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Economic Doom and Gloom
James Pethokoukis: 12 Reason Why Unemployment Is Going to 12%. Actually, the reasons come from Gluskin Sheff economist David Rosenberg, but Pethokoukis blogged 'em. I sure hope he's wrong.
Just curious, why do we put
Just curious, why do we put up with the bogus government measures of unemployment? Is it because it's Obama? If Bush's Depression had occurred during the period of Bush's Coup, would we feel 10.2 or 12 is accurate?
We put up with inaccurate
We put up with inaccurate measures of employment because the direction of those indicators tell us a lot even if the absolute figures don't mean that much.
We know for certain that the employment picture in this country has gotten very bad, very quickly, regardless of the quality of the statistics.
But isn't it the case that
But isn't it the case that the changes in how these measures are computed mask the actual directions or the actual magnitudes of unemployment?
Not saying the stats
Not saying the stats can't be improved, but I don't think anyone right now feels that something is being missed out there. It's pretty clear what's going on.
But I agree that the U.S. govt is too cheap when it comes to collecting data.
It's interesting to see how
It's interesting to see how opinion morphs over the years -- I think it was just a year or two ago that Atrios and Paul Krugman were talking about the bogus U1 - U? unemployment figures. But now, it's left to nuts like Alex Jones to bring this up.
Try this book
Published in 1978, "Political Control of the Economy" By Edward R. Tufte (yes THAT Tufte; "...Professor Emeritus at Yale University, where he taught courses in statistical evidence, information design, and interface design..."), points out the dirty details of how it all fits together. Unemployment statistics are only a small part of the systemic corruption.
"Economics, a dogma whose time has passed” - George Soros
Pretty Safe Bet
James Pethoukis is wrong almost precisely as often as he publishes. I had to ask him to stop emailing me stories to blog because so few of them included any original or credible writing.
Tim, can you provide a
Tim, can you provide a point-by-point refute of his post? Show your work.
Anyone want some watches?
Anyone want some watches?
maybe
But only if they are better than the UGG boots being offered on other threads.
No sir! I don't want a watch.
Join the No-Watch Society. Stop wearing a watch today.
A small change in behavior can really effect your life for the better.