Our trust in authority is badly misplaced

Once we realize this, we'll be a lot better off. I use inflation as an example. Is raising interest rates really the right solution? I don't think so. Here's what I would do about inflation.

Executive summary

Our trust in authorities to implement the best solutions is badly misplaced.

For any major issue, we should have a written plan outlining the causes and the solutions. That plan should be discussed between experts on all sides of the issue in a public forum.

It is always a huge mistake when dissenting voices are silenced or not responded to.

Introduction

It would be a huge mistake to think that our trust in authority (doctors, mainstream media, members of Congress, the CDC, FDA, etc) is misplaced only for vaccines and COVID-19 mitigation measures.

Once you are open to questioning trust in authority figures you formerly trusted, many things open up for you.

For example, inflation.

We are told by the Fed that the solution to inflation is to raise interest rates.

Really?

That doesn’t make sense to me, but if I read the papers, it doesn’t feel like anyone is saying that this is wrong.

Prices are being driven up not because interest rates are too low.

Prices are being driven up due to a combination of issues including (but not limited to):

1. We are printing money

2. Supply chain shortage issues increase costs which are reflected in higher prices

3. Out of control government spending (related to #1)

4. The pandemic

If you want to fix a problem, you should be focused on fixing the root CAUSES of the problem.

For example, we can end the pandemic anytime we want, but the decision makers in power seem to enjoy it, so they are not taking steps to end it (which starts when they stop censoring the people who know how to fix the problem).

Instead, we are focused on turning the wrong knob: interest rates.

Most people agree with me

and

You can click the links to vote/see the current numbers, see the comments, or add your own comments.

How I would solve the inflation problem

If I were the Fed, I’d be spending all my time refusing to raise interest rates to cool demand and I’d instead point out to the politicians that the recent inflation wasn’t caused because we suddenly lowered interest rates.

If Biden wants to fix inflation, the first thing he should do would be to appoint a team of experts that would create a document that outlines:

1. The root causes of the current inflation mess (there are several)

2. The plan to address each cause

The next step is two-fold:

1. The document should be made public

2. We should invite oral discussion on the problems and solutions BETWEEN experts on all sides of the issue.

That last part is extremely important: Oral discussion between experts with opposing views. If we had had that for COVID mitigation policies, I’d like to think we’d have been a lot better off.

Where is the document for inflation? The open public discussion between experts?

Can someone tell me where that document is? And I missed the open discussions of the experts on it too. When did that happen?

Is there a single member of Congress calling for such a common sense approach?

Wouldn’t it be great if we had an open process like this for all issues (like the COVID pandemic) where we got to hear from experts with divergent views.

But for some reason, this never happens.

Summary

Major problems should all have a written plan outlining the cause and the solution(s).

That plan then should be debated publicly by discussion between experts on all sides of the issue before it is finalized and implemented.

Sadly, the government doesn’t do this.

They never allow the authorities to be directly challenged in a public forum. While they do allow public comments, the “authorities” never have to answer any questions that are raised by the public. This rarely happens at the local level, it never happens at the state or federal level.

The authorities simply ignore the public comments and refuse to respond to any of them. This is a HUGE mistake.

If we want good decisions, we should not silence those with opposing views. We should not duck healthy debate.

Sadly, that’s what we do. We silence experts who dissent and we avoid answering any of their questions or addressing any of their primary concerns.

If we fixed just this one thing, it could make a huge difference.

Yet today, nobody will debate any of the vaccine “misinformation spreaders” despite the call for open discussion made over 2 years ago by UCSF Professor Vinay Prasad (“Scientists who express different views on Covid-19 should be heard, not demonized”).

So we have a long way to go. The day public authorities allow themselves to be publicly challenged by experts with opposing views will be a giant step forward.