I've recently written a couple of pieces criticising economics commentators from reading too much into GDP figures. Jeff Hummel has an excellent article on recent adjustments to historical data:
Admittedly, imprecise numbers are better than no numbers at all, so
long as one remains aware of their limitations. But these frequent
changes are not only confusing but an incredible nuisance for both
historians and economists. With three sets of series (or as we will
see, actually more) that researchers might choose from, the BEA's
futile quest for a false precision can wreak havoc with the efforts of
those wishing to compare the work of different scholars.
I've also noticed Jeff warning about a US sovereign debt default:
I believe, in contrast, that it is far more likely that the United
States will be driven to an outright default on Treasury securities,
openly reneging on the interest due on its formal debt and probably
repudiating part of the principal.
As ever thought-provoking analysis from a brilliant thinker.
don't worry all be okay!!thx for this post very interesting to read something like that!
Posted by: freelance writing jobs online | August 11, 2011 at 02:29 PM