The Blind-Folded Bus Drivers Are Back!!!

Do you ever feel like you’re working tirelessly every day, but it’s all for naught? That’s the feeling I had today, reminiscent of that Seinfeld episode when Newman, Jerry’s nemesis, rants about his endless mail delivery job. “The mail keeps coming, Jerry. It keeps coming.” That’s how I feel today.

Two days ago on the program, we discussed Nicholas Taleb’s concept of “blindfolded bus drivers.” If you missed it, here’s a quick recap. Imagine a bus driver deciding to put on a blindfold and drive. Inevitably, there would be a crash, with serious repercussions. However, in the world of pundits, experts, and economists, it seems like they’re driving blindfolded all the time. They make predictions without any skin in the game, and even when they’re wrong, nothing happens to them.

Recently, I talked about the economists who endorsed Joe Biden’s economic policies, assuring us they wouldn’t fuel inflation. Well, we all know how that turned out. And now, 16 Nobel Prize-winning economists are warning that Trump’s second term would reignite inflation. The same people who were wrong about Biden’s policies have the audacity to make new predictions without being held accountable for their past mistakes.

Does anyone in the media call them out on this? Have you seen a single news outlet—CNBC, Fox News—anyone, hold them accountable for being perpetually wrong? They keep getting it wrong, yet they keep their Nobel Prizes, TV appearances, and newspaper columns. I don’t have a PhD in economics, but at least when I’m wrong, I admit it.

These so-called experts have no skin in the game. Imagine having a job where you’re wrong all the time, and it doesn’t matter. You still get accolades; you still get media appearances. It’s like being a government worker; no matter how many mistakes you make, you keep your job and your perks.

What does that say about us, as a society, that we continue to listen to them?

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