The public always has the false assumption that Government bureaucrats, and that includes the Secretary of the Treasury and the head of the Federal Reserve, are really completely “in the know.”
Let’s say they know more than 99.9% of the public, but that does not mean they know what it takes to perform their job.
They are, after all, merely human beings. They may have little more information than we all do. But they may have no more expertise, and far less practical experience than many of us do. Many bureaucrats have never had top-level corporate experience. Or even operated a pushcart.
I know, because I attended graduate school evenings, 3 1/2 years studying money markets and the Treasury and the Federal Reserve, while I was a Senior Analyst. And I was a very-top corporate executive, and know the failings of often inexperienced, yet highest-level bureaucrats and academics.
They often make mistakes everyday. Unfortunately, they cannot admit flagrant mishaps, for the sake of their jobs, or their political party. So, they blame everyone but themselves. Past administrations, the media, and their critics.
They haven’t really a clue and will never fess up to that. The damage they do to us all is immeasurable.
No comments:
Post a Comment