3 ms·
> This is intrinsically misleading Exactly. Reporting the same number over time sounds very serious and correct, unless the nature of the market itself is what
by niels_olson 12y ago
> This is intrinsically misleading
Exactly. Reporting the same number over time sounds very serious and correct, unless the nature of the market itself is what changed. In which case the reporting may totally miss the real event worth reporting. That said, the conversation here is rich in part because at least people are aware that the underlying market may have changed.
- Terr_ 12y ago> Exactly. Wait... exactly what? I'm confused because the "quote" you're using from my post is (ironically?) deeply misleading.
- niels_olson 12y agoReporting U3, or any other number, as "the unemployment rate" is intrinsically misleading if the underlying reality has changed. The system under discussion is not a physical system that we are discovering, it's an economic system that we are constantly manipulating. Frequently, the system is manipulated specifically to push one number or another in a politically desirable direction. This makes the reporting of any given number potentially "intrinsically misleading". By contrast "People who want to mislead you" may try to use this number, but even their attempts are undermined by changes in the underlying dynamics.
- SixSigma 12y agoIsn't one of the points in the OP that the market itself has changed?