The Imaginary "Boom" in the Small-Business Economy \ stacker news ~econ

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The Imaginary "Boom" in the Small-Business Economy mises.org/mises-wire/imaginary-boom-small-business-economy

471 sats \ 7 comments \ @Undisciplined 7 Oct econ

By Ryan McMaken

Unfortunately for workers, it looks like the “Biden-Harris business boom” isn’t much of a boom at all.

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58 sats \ 2 replies \ @Satosora 7 Oct

If you take it at the right time, amd shift the data the way you want, change up the x and y axis, it looks like its going to the moon. Diamond hand man.

20 sats \ 1 reply \ @Undisciplined OP 7 Oct

Warren Buffet famously mocked technical analysis by pointing out that the charts look the same when flipped upside down (rotated 180 degrees).

0 sats \ 0 replies \ @Satosora 7 Oct

Did he ever look at data?

35 sats \ 3 replies \ @Rothbardian_fanatic 7 Oct

Yes, but anyone with discernment knew all this before McMaken wrote the article. The best pointer would have been that THEY derive all of what THEY are saying from government statistics and politicians’ statements. The best rule of thumb on anything coming from the government is to understand that it is the opposite of reality and only self-serving propaganda. It is easy to grasp reality that way. Some excellent examples of this situation would be the FEDs data, BLS data and GDP data.

22 sats \ 2 replies \ @Undisciplined OP 7 Oct

The best rule of thumb on anything coming from the government is to understand that it is the opposite of reality and only self-serving propaganda.

The later part for sure. I'd drop any assumption about whether it's true or false, though. They can't manipulate you if you attach zero weight to their pronouncements. Attaching a negative weight still grants them power over your beliefs.

25 sats \ 1 reply \ @Rothbardian_fanatic 8 Oct

I get that, but then I would have to research what they really mean instead of just making a quick judgment for the opposite case, which so very often turns out to be the true case. It even looks like that may be the case with politicians and projection, when THEY shout “conspiracy theory” and the whole raft of statistics. It just makes life a little bit easier by applying automaticity.

0 sats \ 0 replies \ @Undisciplined OP 8 Oct

If you're going to lean one way or the other based on government pronouncements, then you're right to treat them as the opposite of the truth.

I have a half-baked reason for this being correct: since statism is out of alignment with reality, true statements will tend to undermine the state.