~Dunning and Kruger state that the cause of the effect is that incompetence at a certain skill also robs one of the ability to make an accurate judgement concerning that skill. ~
This stimulus is going to be a boom to the world,,,or something like that....
I am just guessing here, but I would say that the only thing that you know about the subject matter in the op is what you learned in the op.
Please, the contextual validity of that statement should be made. I *HATE* TARP, I hated it from the beginning. Not because its goal, but because of its need. It should never have happened and I've said that for more than 7 years. In 2003 I was railing against the housing bubble and I continued to do so.
However, I will still say that the bailout will be a boon to the world, only because it aided in the stability of the capital markets and kept them open to clients. I saw, on the inside, how bad it got. I also saw how stable the markets started to get once the government intervened. I can tell you that companies, and the economy, would absolutely be in a far worse position now. We would have at least double the unemployment and would still have massively negative GDP.
Why? Because when the worst was happening, all banks would have gone out of business. This isn't some "hey, cool" thing. It's serious shit. Companies depend on the capital markets every fucking day to finance stuff, not because they need the financing, but because it's the most efficient. Had those credit lines been pulled, those bonds not been sold, that equity not been raised, there would have been a massive pullback. Not because there needed to be, but because they would not have had an option, because NOBODY was buying, not because they were bad credits, but because people would have lost faith.
For everything the capital markets are, it's really just faith that things tomorrow won't collapse. Remove that belief and you remove the entire system.
Ignoring that is actually the dunning kruger effect. This is why people like you fall victim to it, because you really don't know what you don't know. You lack the intelligence or skill of logic to look beyond the first or second order of effect.
What's laughable is that you and your ilk, think that you can invoke the Effect on me, thinking your smart for it. However, at every point in this thread I've shown you how stupid you are. Yet you throw it back on me, saying how my own lack of logic evidences the effect, my hubris does.
But when it comes down to it, your posts are self-evident. They are half-baked and moronic, they lack the needed analysis to know that you are wrong.
I've been wrong many times and have admitted it on here. However, with this, I am not. Instead of listening to somebody obviously your superior in this, you ignore me. This is the Dunning Kruger Effect.