“So as Chair Powell indicated himself, both of us probably could have used a better term than transitory. There’s no question that we have huge inflation pressures, that inflation is really our top economic problem at this point, and that it’s critical that we address it,” – Janet Yellen
A book I’m reading said that economists predictions are 50/50 based on verified historical data. This means that so called experts are no better than you or I at predicting the future. Clearly through Yellen’s quote above, they had/have no idea what they are doing. Let’s give some credit though to owning up to a mistake which is way better than what the politicians in office do which is blame the other side for the ongoing troubles. Let me mention that both sides do this equally so nobody gets their panties in a bunch.
Leniency Didn’t Work!
The people of San Francisco recalled their District Attorney, Chesa Boudin, from his position earlier this week. Apparently they decided a DA who believes in decriminalization doesn’t work. Too many needles on the street and homelessness wasn’t what San Fran was looking for. I can’t believe it.
This leads me to the title of this post which are the laws of the universe. The way gravity has laws, so does the way input affects output. Life has a funny way of balancing out over the long run. Let’s look at Homer Simpson and Frank Grimes, a historically great Simpsons episode.
Grimey, as he liked to be called, was a hard worker who couldn’t get ahead. Homer, the overweight dolt, had it all in Grimey’s eyes. A dream house, 2 cars, a beautiful wife. Frank didn’t understand what he was doing wrong to get to his below average life position by working hard every day compared to Homer who somehow lucks his way through life. This ultimately led to his demise. For as many cases where hard working fictional characters underperform their fictional counterparts, there are billions of other which deviate.
Living life on solid principles, leads to success. Honesty, helping others, hard work. There are no short cuts to getting ahead in life and this is what bothers me about the current administration and why I’m happy to see a guy like Boudin ousted. Boudin wants to believe that people who commit crimes shouldn’t be prosecuted. Committing crimes needs to be punished justly so they don’t do them anymore. Crimes ruin society because it breaches trust and it’s impossible to run an efficient society without trust. This is the same for homelessness. If you want to support the homeless, give them money for drugs, and act like what they are doing is acceptable, then you’re supporting a drifting mentality towards life which causes degradation for all. I’m not here to propose solutions, that can be for a separate post, but once we agree that decriminalization and supporting homelessness is bad for society, then we can start moving forward. Now consider when the gov’t offers $1.6 trillion as a bailout and the damage it does to the economy and people wonder why? Free money? It doesn’t exist. You always pay. No matter what. It’s the law of the universe.