In Surprise Analysis, Bloomberg Chronicles the Failure of Expert Propaganda
By Daily Bell Staff - June 24, 2016

Do the Experts Know Anything? … This has been a terrible day for experts. Economic professionals were overwhelmingly of the opinion that leaving the European Union would hurt the United Kingdom. And until a few hours ago, the consensus of public opinion experts — at least if one uses prediction markets as a proxy — was that voters would in the end decide to stay in the EU. Didn’t work out that way, did it? Brexit won. Take that, experts! – Bloomberg

Now here’s an interesting reversal. A Bloomberg editorial that blows up a powerful dominant social theme – the competence of experts.

Experts are central to the evolution of the modern, globalist state. The technocrat is the white knight of the modern age, going wherever the need for his services is the most acute.

Such technocrats rarely fail, according to the mainstream media. Or when they do, it’s not reported.

The emergent international state is to build on corporatism and be populated by technocratic experts.

To say bad things about experts in Bloomberg, one of the  core news facilities of mainstream media is bold. It is an unusual occurrence.

And yet this article, as we can see from the excerpt beginning it, is calling expertise into question.


Donald Trump’s presidential candidacy, for example, can fairly be seen as a rejection of expertise in all its forms. And long before the Trump phenomenon, critics in the U.S. were gleefully attacking the expert consensus on everything from climate change to vaccinations.

Why are experts having such a tough time?  From my current perspective (that of a generalist business-and-economics journalist sitting at a desk in the Bloomberg News bureau in Beijing, which I am visiting this week), three main reasons stand out …

The article then lists the three reasons:

  1. Experts are wrong a lot.
  2. 2. Experts are elitist.
  3. 3. Nonexperts can be pretty susceptible to nonsense.

To this list we’d add a fourth – one that has to do with the reality of expertise, which is almost always forward-looking.

Common-sense economics informs us that forecasting the future is almost impossible. When one is correct, one is merely lucky.

The reason for the cult of expertise, as we have pointed out in the past, has to do with the necessity of central bank forecasting.

To exist, central bankers must be able to foretell the future. And thus the expert meme has been constructed, piece by painful piece.

And today experts are everywhere, making predictions that rarely come true and passing judgment that often ill-advised.

In our view, public patience is certainly starting to wear thin. We’d like to think the Internet itself has undermined “expertise.”

It’s not easy to be an expert when the public is no longer subject to amnesia. People can go online and see the malfunctioning of expertise whenever they want.

There is one more reason for the growing distrust of expertise. That has to do with expanding skepticism of elite dominant social themes generally.

This Bloomberg article itself mentions some memes that are increasingly questioned – including the efficacy of vaccines and the dangers posed by “global warming.”

We see this as the inevitable result of this Internet era, when people can use the information at their fingertips to make up their own minds about elite themes.

As this process evolves, we fully expect it to have an increasing impact on the validity of modern technology.

It is for this reason that we have begun to take a more skeptical look at areas of technology such as space travel and nuclear weapons.

After all, the Internet is a process not an episode and the Western military industrial complex will not remain impervious to the trends affecting other elements of “common wisdom.”

Conclusion: It is almost inevitable that Western society is facing ongoing turmoil as questions are raised on a variety of fronts hitherto considered untouchable. The failure of confidence in experts and “expertise” marks the beginning of this occurrence, not the end.

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  • alaska3636

    A faulty view of the future flows from a faulty view of the past.

    The media does not connect material progress and elevated standards of living with the individual human action which created them. The past is viewed in the historicist fashion, resurrected as a sort of post-modern interpretation of historical events.

    For instance, the FED as a contributing factor in boom-bust cycles isn’t construed as causal, just one of several distinct historical factors that produced a distinct historical outcome. If you don’t see human action as bound by natural laws then you can learn nothing from the past and can not forecast the future. Or even realize the limitations of trying to forecast the future…

    Bloomberg, thus, can not really wrap their heads around the average view of the great unwashed masses that the past turns into present turns into future. The higher up in education you go, the more this folksy bit of wisdom is ridiculed as being unscientific. Statistical history and behavioral sciences are marketing trends presented as universal truth. Brexit is the elastic whiplash of commonsense over high IQ idiocy.

  • Praetor

    The thing experts forget. When these experts where in class learning the skills of their trade. A lot of us where sitting next to them in those classes.

    Its said of many, they can remember every word in the book, pass all the tests with flying colors, but can’t apply one word of the book to real life or out in the real world. Their the learners not the doers.

    The internet is a good why for the doers to school the learners:)!!!

  • my name is irrelevant

    Excellence again!

    This is not the first time Bloomberg has splashed cold water on its own kin. A broad view of the meme in play is a discrediting of all “human” experts, focusing on the West for now. This will be a long and widening meme to prepare the populace’ minds for their grande finale, a few years out yet, I hope.

    Its fitting at this point that I share with you a mans work who is working harder (and is probably smarter than I, and certainly a better communicator) on their next 1000 year plan, than I can find time for. This person has a very solid understanding and my research agrees with his almost exactly. He has a tendency to predict minor evils outside their main script, which is where I don’t have time or energy to go… and typically those minor evils never come to pass. Predicting the future is risking credibility, so I disagree with that tack.

    That said, I feel that Ken is a very astute technician and is probably 99% correct. He is a kind and caring man. I believe that he has been accurate enough in his exposures to help cause them small delays. The things you may read on his site if you choose to delve into it, will come across as very bizarre and crazy, as most humans have not been understanding of their “bigger and bizarre is more effective mind control” when studying their directed history.

    Please keep an open mind at all times, explore, but do not fully adopt, because their scripts are very dynamic, multi-tentacled, sometimes delayed (or moved forward), and chock full of trickery. Its a psychological war on us humans and all war is based on deception. They are masters of those crafts.

    Ken’s site:

    Scroll down the page and you’ll find coverage of the Bloomberg exposure of the limited hangout operation going on at Zerohedge. Zerohedge responded to their exposure in such a clumsy, surprised way that a casual observer could sense and see their guilt. Also revealed was the globalists fake alt-medias hidden networking to each other.

    Please consider this new information soberly. Running away laughing and ridiculing a sincere messenger is not constructive. As I suggested, don’t adopt, but explore all new information. Read the globalists press releases in the medias and read all of their dry, boring, papers on their sites. The patterns (and ticking off of events along their timeline) that will emerge as time passes will be your educational reward. Reality is required for your survival. Discount nothing until you fully understand them.

    Thank you,

  • knifemare69

    Experts = Big mouth individuals with no ideas of their own but LOTS of banker money to push the agendas of the inbred aristocrats running things.

  • desertspeaks

    I predict that the experts will continue to issue incorrect prognostications, while conveniently disregarding all their past mistakes.
    Many will blindly believe anything these putrid psychopaths spew for their consumption and regurgitate the propaganda on demand, as though it has some basis in reality!

  • Black Swan

    ” Genocide is the consequence of being ruled by an elite group of psychopath’s, who own the banks that control the governments and the media. They fund both sides of war for profit, and they manufacture consent of the public through the clever application of propaganda through the media.” Anonymous

  • autonomous

    Anyone who expresses self-doubt (remember when humility was an asset?) is considered as defective no matter the accuracy of his opinion. Similarly, anyone who displays supreme self-confidence (remember when pride was a deadly sin) is looked up to–and followed–no matter the inaccuracy of his opinion. Children are taught from birth, when the birth has not been prevented as an inconvenience, their every move, no matter how messy or foul smelling, is proof of genius. Every Alex, especially every Alice, rises to prominence to the loudest, most arrogant parents who bully teachers and coaches to promote their own children as superior, and teach their children to demand prominence. We reap what we have sown in letting these “superiors” tread us down. Some note that cream rises to the top; true, but so does scum.