Skip to main content

Statist Statistics Debunked

Bill Maher has recently taken a stab at supporting his favorable view of the Obama administration. He attempted this with an array of select data which might, on the surface, arouse optimism and garner applause, but upon further scrutiny would simply fail to hold. Watch the video here.




I'll take this point by point. First, unemployment is a non-viable metric by which to measure the creation of wealth. Second, those figures which are today in vogue fail to capture the greater collage of employment strife facing today's laborers, including underemployment, discouraged workers, and part-time laborers. Third, the US dollar-denominated price of gas per gallon has declined by 28% while its gold-denominated price declined by a whopping 52%, indicating that the administration of Obama, Bernanke, and Yellen has corroborated a resistance to even further price declines, approximately a 24% margin. Fourth, the percentage of the insured fails to capture those costs incurred by persons who have shouldered the burden of the penalty and those who would prefer to withhold their savings and the product of their labor for other means, who possess no justification for this investment, and who possess no reason to anticipate, on their near-term time horizon, any probability of survival or perhaps any circumstances warranting this service and would prefer to reconcile its use at the point of transaction. Fifth, a reduction in oil importation signals not merely energy independence but rather a disintegrating manufacturing industry supplanted by the burgeoning service sector marketplace. Sixth, teen pregnancy is more intimately attributable to a culture of individuals who have become more widely familiar with the trials and challenges of this burden than anything even remotely proximate to the Obama administration. Seventh, the perceived hostility stemming from Iran might be quickly reconciled or understood by a cursory understanding of the 1953 CIA coup d'├ętat. Eighth, real GDP has declined consistently year-over-year, all while the share of consumption and government expenditures has ballooned alongside the now-$18 trillion national debt, excluding off-budget and future liabilities, and a zero-interest rate policy, while Chinese GDP (PPP) has by now surpassed that of the United States. Ninth, the Dow Jones Industrial Average, which currently rests 11% below its gold-price of 2008, is not a benchmark for overall wealth, but rather that for those who possess the capital to speculate, thereby generating the exacerbated margin of that despised inequality of income. Furthermore, the Dow Jones Industrial Average, the S&P, and the NASDAQ have far ridden the stimulus of QE1, QE2, and QE3, along with ZIRP. Since October 29, 2014, when the Federal Reserve halted QE3, the DJIA has declined nearly 8%. The devil is in the details.

Comments

  1. Couldn't load the video but I'll try another source as I'd hate to miss a moment of pontification by my favorite windbag athiest Mr. Bill!
    And you're right, the devil is in the details but I'm not sure Maher believes in him either.

    ReplyDelete

Post a Comment

Popular posts from this blog

America's Civil War: Not "Civil" and Not About Slavery

Virtually the entirety of South and Central America, as well as European powers Britain, Spain and France, peacefully abolished slavery — without war — in the first sixty years of the nineteenth century.  Why, then, did the United States enter into a bloody war that cost over half of the nation’s wealth, at least 800,000 lives and many hundreds of thousands more in casualties?  The answer: the War Between the States was not about slavery.  It was a war of invasion to further empower the central government and to reject state sovereignty, nullification of unconstitutional laws, and the states’ rights to secession.  It was a war that would cripple the South and witness the federal debt skyrocket from $65 million in 1860 to $2.7 billion in 1865, whose annual interest alone would prove twice as expensive as the entire federal budget from 1860. Likewise, it was a war that would witness a five-fold increase in the number of civilians employed by the federal government, as federal gove

Into the Wild: An Economics Lesson

There is a great deal of substance behind the Keynesian motif, “In the long run, we’re all dead.” If this is your prerogative, your axiom, we are destined to differ on matters of principle and timeline. Surely, any quantity or decided cash figure is relevant exclusively to the available produce yielded by its trade. The current valuation thereof, whilst unadulterated, corroborates a rather stable, predictable trend of expectations, whereas its significance wanes once reconfigured by a process of economic, fiscal or monetary manipulation.  Individuals, vast in their interests and their time preferences and overall appetites, are to be made homogeneous by an overarching system which predetermines the price floors, ceilings and general priorities of life. Of course, all of this exists merely in abstract form. However, the supposition proposed by those who champion the agenda of “basic needs” fails to complement the progress achieved by the abolition of presumed guilt by the sole mis

Cullen Roche's Not So "Pragmatic Capitalism"

In his riveting new work Pragmatic Capitalism , Cullen Roche, founder of Orcam Financial Group, a San Diego-based financial firm, sets out to correct the mainstream schools of economic thought, focusing on  Keynesians, Monetarists, and Austrians alike. This new macroeconomic perspective claims to reveal What Every Investor Needs to Know About Money and Finance . Indeed, Roche introduces the layman to various elementary principles of economics and financial markets, revealing in early chapters the failed state of the average hedge fund and mutual fund operators -- who are better car salesmen than financial pundits, Roche writes --  who have fallen victim to the group think phenomenon, spawning the nearly perfect positive correlation to the major indexes, and thus, accounting for tax, inflation, and service adjustments, holistically wiping out any value added by their supposed market insight.  Roche also references popular studies, such as the MckInsey Global Institute's report whi