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Numbers are very easy to manipulate, and are almost never predictive when removed from the original context. Low unemployment means nothing without also refere
by _heimdall 3y ago
Numbers are very easy to manipulate, and are almost never predictive when removed from the original context.
Low unemployment means nothing without also referencing workforce participation rates. Economic data is also effectively useless if, for example, inflation data excludes common expenses like groceries, housing, used cars, etc.
I don't think this was always the case, but economic data today is so easily gamed that its little more than political theater.