Is Joe Biden smarter than Barack "World" Obama? I am serious here.
At that Obama press conference (where Obama was unimpressive), President Obama was asked what Joe Biden meant by his statement that: "You can do the right thing, and 30% of the time it will come out wrong."
Obama, of course, said essentially that he did not know what Biden meant, and seemed to suggest that no one pays attention to Biden anyway ('the "Joe will be Joe"--a blabbing idiot--idea). Of course, this is further proof that the mainstream media now contains the worst snctimonious hypocrites to ever walk the Earth on two legs (including Neanderthal Man--led to extinction by the Al Gorice "leadership, which prevented them from adapting to "global warming"). If Sarah Palin had ever said anything like that, even if she had been elected VP, she would have been crucified by the sanctimonious hypocrites in teh mainstream media who insisted on labeling Palin an idiot, while giving Biden a pass ("Joe will be Joe").
However, the problem here that Joe Biden is right. Oh, I don't think he knows he is right, or meant his statement in the way that represents a deep insight, but it is true. If Biden really understood the significance of what he said, it would make him much smarter than Obama--and almost all of the mainstream media.
What is the problem with central planning (the idea that the Federal Government can "solve" all economic problems by direction from Congress, the Preesident, and Federal bureaucrats)? It is not that central planning always produces the "wrong" decision. Now, no central planner has enough informatioin to produce "right" dccisions by authoritarian directives. But the main problem is that even when central planning decisioins appear to be "right", they willl e wrong a considerable percentage of the time (30%?). In a central planning universe, unlike a free market, you cannot recover from the inevitable wrong decisions. Too much is invested in them As history, and theory, conclusively show, central planning (the old Soviet "Five Year Plans") inevitably lead to disaster, as each--inevitable--wrong decision has consequences that can't be recoverd from (because of lack of a self-correcting mechanism, like is built into free markets and decentralized planning).
"Too big to fail" (meaning that the bad consequences of decisions by a few have consequences we supposedly cannot afford) applies to the Federal Government. But there is no one to "bail out" the Federal Government--except the peoiple themselves, but they will be unable to do so if the Federal Government has grown too big.
Yep. Joe Biden is right, whether he understands it or not (I vote "not"!!!). No matter how "expert" you are, and not matter how good your judgment is, you will be wrong maybe 30% of the time (even if there is a consensus on the right decision). That is, even what appears to be the right decision can turn out totally wrong. In a central planning economy, however, the decisions that turn out wrong are a total disaster. There is no recovery That is the road down which we are heading in the Age of Obama.
P.S. That thing about even the best being wrong 30% of the time does not aplly to me. My audited accuracy rating is 99.2% of the time. Even that is not good enough in a central planning world. Of course, one of the things I am right about is decentralizatioin (federlism--the forgotten concept of a limited central government) and the absolute necessity of relying on free markets and the people themselves, instead of on the Federal Government.