My post earlier today by Mises, explains the financial meltdown of 2008 quite well. The well placed people in government, academia, financial media, and the CEO’s, have no skin in the game.
There are no consequences for them being wrong. Nobody is fired, nobody is financially ruined. All the risks to the downsides of their actions, inactions, and prognostications fall on the unwashed masses and taxpayers.
These people live in bubbles of like minded group thinkers, at home and at work. They have no concept of struggling from day to day to put bread on the table or paying the bills.
Same thing with the school shootings. The latest one in Florida has students and other useful idiots blaming the rights of lawful gun owners instead of the long list of government failures leading up to the shootings. The FBI failed by ignoring a tip. Local police failed by not waving a red flag about this perp’s many arrests. The school resource officer and three other Deputies hid behind their cars while the carnage was happening. Dead students,and no accountability by those who were sworn to protect them. Instead we get demands for more regulations the government can poorly enforce.