--- title: Blind Faith description: We share Steve’s fear and recognize that continued monetary easing seems to be less fruitful each time both in its effects on the economy... --- [![3_Global-View-SMALL_long_black](https://globalviewinv.com/wp-content/uploads/2025/10/3_Global-View-SMALL_long_black-scaled.png#130)](https://globalviewinv.com) ✕ - [About Us](https://globalviewinv.com/about-us/) - [Our Story](https://globalviewinv.com/about-us/) - [Our Founder](https://globalviewinv.com/about-us/) - [Meet Our Team](https://globalviewinv.com/about-us/) - [Your Fee-Only Fiduciary Partner](https://globalviewinv.com/about-us/) - [Referral Partners](https://globalviewinv.com/about-us/) - [Why Global View](https://globalviewinv.com/why-global-view/) - [Your Independent Advocate](https://globalviewinv.com/why-global-view/your-independent-advocate/) - [Real Risk Management](https://globalviewinv.com/why-global-view/real-risk-management/) - [Family-Office-Style Services](https://globalviewinv.com/why-global-view/family-office-style-services/) - 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[Quick Guides](https://globalviewinv.com/quick-guides/) - [Videos](https://www.youtube.com/@Globalviewinv) - [Client Login](https://globalviewinv.com/client-login/) [![6_Global-View-Icon-black](https://globalviewinv.com/wp-content/uploads/2025/10/6_Global-View-Icon-black-scaled.png#68)](https://globalviewinv.com) # Blind Faith ![](https://globalviewinv.com/wp-content/uploads/2025/11/gold-line.jpg) # Global View Investment Blog # Blind Faith [Global View News & Commentary](https://blog.globalviewinv.com/tag/global-view-news-commentary) Nov 5th, 2012 By: [Ken Moore](https://blog.globalviewinv.com/author/ken-moore) “*Incompetence is the disease of idiots.  Overconfidence is the mistake of experts … Incompetence irritates me.  Overconfidence terrifies me.”*  Malcolm Gladwell Steve Romick’s latest message suggests that continued easy monetary policy will not end well.  “Despite Mr. Bernanke’s poor batting average (at predicting the future), his confidence appears unshaken.”  We share Steve’s fear and recognize that continued monetary easing seems to be less fruitful each time both in its effects on the economy and asset prices.  We continue to fear the government’s continued shift to government-managed capitalism in an environment where “almost 90% of our nation’s tax receipts are now paid directly to individuals versus around 30% in the 1960s.” We are diligently observant of changes in the economic climate that may occur and the possible impact of changes in government policy after this election.  At the same time we are unfortunately aware that as government “kicks the can” down the road that the “can” might turn out in fact to be a building snowball that can continue to build for some time depending on when fundamental problems are recognized and addressed. [View Full Commentary from Steve Romick](http://www.fpafunds.com/docs/special-commentaries/blind-faith---final-10-31-12.pdf?sfvrsn=2) ![Ken Moore](https://blog.globalviewinv.com/hubfs/Ken%20Moore%20Global%20View.jpg) ### Written by [Ken Moore](https://blog.globalviewinv.com/author/ken-moore) Ken’s focus is on investment strategy, research and analysis as well as financial planning strategy. Ken plays the lead role of our team identifying investments that fit the philosophy of the Global View approach. He is a strict adherent to Margin of Safety investment principles and has a strong belief in the power of business cycles. On a personal note, Ken was born in 1964 in Lexington Virginia, has been married since 1991. Immediately before locating to Greenville in 1997, Ken lived in New York City. 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