I keep pushing back on two types of NPCs:
1) The right-leaning type of NPC that thinks all the inflation occurred because of the Biden Administration. Price inflation comes with a lag from money-printing, which began under Trump and continued under Biden, but materialized under Biden. That's why I was writing about upcoming inflation in 2020 and continued doing so in 2021 and thereafter.
2) The left-leaning type of NPC that thinks "price gouging corporations" are causing the inflation and that price controls are an answer. A casual reading of history would refute this, any easy check on public SEC filings would demonstrate this, etc. So it's like, "no, the grocery store with 1.4% net profit margins is not the cause of your food price woes, madam."
It's not so much that I get annoyed by people not knowing things. There's a million things I don't know. What I do find mildly frustrating is when people are so confidentially sure of a position that they have almost zero knowledge in.
No clearer sign of an NPC than that 😂
>> What I do find mildly frustrating is when people are so confidentially sure of a position that they have almost zero knowledge in.
Dunning-Kruger at its finest
The curious mind is conscious of what it does not know, admits its shortcomings, and seeks the truth.
The NPC mind just Dunning-Krugers its way through life convinced of its own correctness.
NPC: would rather be "right" than find the truth
Type 1 at least has a grasp of the concept of “money printing”.
IMO Type 2 is more challenging to educate as politicians and financial illiterates happily feed their incorrect cause of general inflation.
I’ve seen both but the ratio seems to be 1 to 5
Also, Trump’s import tariffs are highly inflationary as well as retarded.
I don't always pretend to know something about something that I know nothing at all. but when I do, I know it all.
“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.”
-Rothbard
welcome to the human race
they've been printing 7% more money for decades
productivity growth typically is 5%
7% - 5% is 2%, the targeted rate of inflation but really it should be negative 5%, which works just fine in the software or computer industry
Unfortunately I find this to be true with most people I know. They take a stance on a subject and stick to it even though you can tell they know nothing about what they are talking about and keep repeating the same sensational lies MSM keeps feeding them. People refuse to take even a little bit of time to research the things they think they know.
Read a book a long time ago called “People of the Lie” wherein the author M. Scott Peck defines evil as “ militant ignorance.”
Then there is Yeats ... "The best lack all conviction, while the worst are full of passionate intensity" (The Second Coming - 1920) ... or
Bertrand Russell "The fundamental cause of the trouble is that in the modern world the stupid are cocksure, while the intelligent are full of doubt" (Stupidity Rules - 1933) ....
It’s like they’d bet their lives on it. Do I laugh or cry?!
“It's not so much that I get annoyed by people not knowing things. There's a million things I don't know. What I do find mildly frustrating is when people are so confidentially sure of a position that they have almost zero knowledge in.”
Aptly said. I sometimes struggle with my own internally held positions and wonder how anyone can be so god damned sure of themselves when it’s clear they haven’t really put in the work to understand the nuances of a concept
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