Re: Economics 101

Minä suojelen sinua kaikelta, mitä ikinä keksitkin sanoa, rjones@xxxxxxxxx:

rich hammett wrote:
Minä suojelen sinua kaikelta, mitä ikinä keksitkin sanoa, rjones@xxxxxxxxx:

stephenj wrote:
Randolph M. Jones wrote:
Tony Lima wrote:



Hey, watching you and Jaros try to discuss an economic issue
is worth the price of admission alone. I haven't laughed
this hard in a long time. - Tony


You have kind of a hang-up about being an economist, don't you?

Lima has some good insights on economic issues, but he has a tendency to
not read posts closely. that causes him to reply with objections to
points the other guy didn't actually make.

He also has special access to economic wisdom, which mere mortals
should revere and not question.

Well, if you're talking about the foolishness of comparing
deficits without adjusting for inflation, a 6-year-old should
have access to that wisdom.

I took Jeff's point with the original graph to be comparing the shapes
of the curves within each presidency, not to be comparing individual
data levels across presidencies. There are all sorts of ways you could
normalize those curves. Adjust for inflation over each sub-curve would
not change the shape of that curve much, and at best would magnify the
point Jeff was making.

Ergo, you and Tony are being pedantic and silly for the sake of being
pedantic and silly.

It would tend to reduce the trend overall. which would tend
to oppose the point Jeff was making. The only thing that would
help the point Jeff was making is that the correction would
be much higher for Carter, thanks to the higher inflation, than
for any of the later presidents. Virtually no inflation under
Clinton.

The worst part, of course, is that I'm 99.4% sure that the legal
definition of the federal debt has changed, as well. That HAS
changed in ways to de-emphasize more recent debts, so that
correction would make all the recent prezzes look worse.

Charts like this are, to me, like Bush's arguments for going
to war. There are plenty of good ones in the real world, don't
make them up or twist them dishonestly. Or incompetently.

Just for perspective, the CPI increased over 14X during
the period of that graph.

rich
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