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  • Posted to reduce JohnT's frustrations. Graph source:
    https://finance.townhall.com/columni...ncome-n2514803

    The link should show what Kid thinks (or rather, has been told) the graph means.
    Apolyton's Grim Reaper 2008, 2010 & 2011
    RIP lest we forget... SG (2) and LaFayette -- Civ2 Succession Games Brothers-in-Arms

    Comment


    • Standard Right-wing Site.
      https://mediabiasfactcheck.com/townhall/
      i prefer these sites
      https://mediabiasfactcheck.com/satire/
      I am not delusional! Now if you'll excuse me, i'm gonna go dance with the purple wombat who's playing show-tunes in my coffee cup!
      Rules are like Egg's. They're fun when thrown out the window!
      Difference is irrelevant when dosage is higher than recommended!

      Comment


      • Naw, the source of my "frustration" is Kid not making his point.

        Nobody computes wage growth on a long-term (defined as being over 1 year) scale using nominal figures, otherwise we would be looking back fondly at the wage growth of the Carter era, which has the single largest month-to-month growth rate of 13.5% in January, 1979.

        https://tradingeconomics.com/united-states/wage-growth

        For anyone who actually lived in that era, you can see why nominal rates are unusable.

        Comment


        • For some reason, my response was sent to be approved.

          Comment


          • I have had 2 posts (maybe 3, including this one... won't know until I hit "post reply") go to the unapproved bin, so it may be a while before I "respond".

            Comment


            • That's the spam filter that randomly blocks anything but spam.

              Meanwhile some people wonder why wonders why no-one takes Gary Johnson seriously..
              I am not delusional! Now if you'll excuse me, i'm gonna go dance with the purple wombat who's playing show-tunes in my coffee cup!
              Rules are like Egg's. They're fun when thrown out the window!
              Difference is irrelevant when dosage is higher than recommended!

              Comment


              • Originally posted by -Jrabbit View Post
                Posted to reduce JohnT's frustrations. Graph source:
                https://finance.townhall.com/columni...ncome-n2514803

                The link should show what Kid thinks (or rather, has been told) the graph means.
                Gotta say, that article makes some very basic mistakes:

                1. "The nominal rate of year over year growth for median household income has reached 5.6% in July 2018, which ranks fifth for the monthly data we have going back to January 2001. The inflation-adjusted year-over-year growth rate of median household income was also up for July 2018."

                A. I mean... the adjusted rate growth and the nominal rate growth will vary little when you're measuring the baseline month. A y-to-y rate will have a bit of a change, of course, but not much.

                B. Note that the writer made the distinction that the y2y nominal growth rate was 5th since 2001, but somehow "forgot" to provide a similar analysis for the adjusted rate in the very next sentence.

                2. "U.S. median household income is setting new monthly records in both nominal and real terms."

                A. This sentence is designed specifically for moron consumption (Hi, Kid!). Given that July 2018 is the baseline month, if July 2018 sets a record in nominal dollars, it will also set a record in real dollars as well. Brilliant analysis, that!

                3. "In July 2018, it is also now seeing some of its fastest-on-record nominal year-over-year growth rates. Our second chart shows that data from January 2001 through July 2018."

                Well, yes, possibly.

                A. Would need to see the numbers before you can actually make that claim, but I will assume the author isn't a liar, just biased.

                B. Why "biased"? Because he (assuming) cherry-picked the date range. Had he gone back to, as shown above, the 1970s, July 2018 would be quite middlin'. But he chose one of the least inflationary periods in American economic history and shouted "success!"... and still had to rely on nominal numbers to make his point.

                Also, this, from Kid:

                4. " So you don't care to tell us why you don't seem to understand why Median HH income decreased in 2001?"

                Because it didn't. Look again:
                Click image for larger version  Name:	SmartSelect_20180906-190726_Gallery.jpg Views:	1 Size:	46.5 KB ID:	9359354


                Looks like wages grew in 2001, dropped a bit in 2002 (look at that inflation spike in Q1, 2002!), remained flat for the rest of the year, then started growing again (nominally, but not adjusted) in 2003.

                So, are you sure you know how to read a chart?

                Comment


                • Good night! It's a graph! This isn't hard. It's just a representation of facts!
                  I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                  - Justice Brett Kavanaugh

                  Comment


                  • Originally posted by JohnT View Post

                    Gotta say, that article makes some very basic mistakes:

                    1. "The nominal rate of year over year growth for median household income has reached 5.6% in July 2018, which ranks fifth for the monthly data we have going back to January 2001. The inflation-adjusted year-over-year growth rate of median household income was also up for July 2018."

                    A. I mean... the adjusted rate growth and the nominal rate growth will vary little when you're measuring the baseline month. A y-to-y rate will have a bit of a change, of course, but not much.

                    B. Note that the writer made the distinction that the y2y nominal growth rate was 5th since 2001, but somehow "forgot" to provide a similar analysis for the adjusted rate in the very next sentence.

                    2. "U.S. median household income is setting new monthly records in both nominal and real terms."

                    A. This sentence is designed specifically for moron consumption (Hi, Kid!). Given that July 2018 is the baseline month, if July 2018 sets a record in nominal dollars, it will also set a record in real dollars as well. Brilliant analysis, that!

                    3. "In July 2018, it is also now seeing some of its fastest-on-record nominal year-over-year growth rates. Our second chart shows that data from January 2001 through July 2018."

                    Well, yes, possibly.

                    A. Would need to see the numbers before you can actually make that claim, but I will assume the author isn't a liar, just biased.

                    B. Why "biased"? Because he (assuming) cherry-picked the date range. Had he gone back to, as shown above, the 1970s, July 2018 would be quite middlin'. But he chose one of the least inflationary periods in American economic history and shouted "success!"... and still had to rely on nominal numbers to make his point.

                    Also, this, from Kid:

                    4. " So you don't care to tell us why you don't seem to understand why Median HH income decreased in 2001?"

                    Because it didn't. Look again:
                    Click image for larger version Name:	SmartSelect_20180906-190726_Gallery.jpg Views:	1 Size:	46.5 KB ID:	9359354


                    Looks like wages grew in 2001, dropped a bit in 2002 (look at that inflation spike in Q1, 2002!), remained flat for the rest of the year, then started growing again (nominally, but not adjusted) in 2003.

                    So, are you sure you know how to read a chart?
                    For some reason you think I posted that article. Are you delusional?
                    I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                    - Justice Brett Kavanaugh

                    Comment


                    • Originally posted by Kidicious View Post
                      Good night! It's a graph! This isn't hard. It's just a representation of facts!
                      Which, in the one comment you made about it, you got wrong, and then repeatedly declined to state as to why you posted the chart.

                      Your mental disorders are really in control right now, aren't they? Take your pills, gramps.

                      Comment


                      • Insulin's High Cost Leads To Lethal Rationing

                        Diabetic ketoacidosis is a terrible way to die. It's what happens when you don't have enough insulin. Your blood sugar gets so high that your blood becomes highly acidic, your cells dehydrate, and your body stops functioning.

                        Diabetic ketoacidosis is how Nicole Smith-Holt lost her son. Three days before his payday. Because he couldn't afford his insulin.

                        "It shouldn't have happened," Smith-Holt says looking at her son's death certificate on her dining room table in Richfield, Minn. "That cause of death of diabetic ketoacidosis should have never happened."
                        https://www.npr.org/sections/health-...thal-rationing

                        I am not delusional! Now if you'll excuse me, i'm gonna go dance with the purple wombat who's playing show-tunes in my coffee cup!
                        Rules are like Egg's. They're fun when thrown out the window!
                        Difference is irrelevant when dosage is higher than recommended!

                        Comment


                        • Do you know that fixing the price lower creates more of a shortage?
                          I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                          - Justice Brett Kavanaugh

                          Comment


                          • Broken_Erika
                            Broken_Erika commented
                            Editing a comment
                            Only in America. One of the only developed nations in the world that can't figure out how to run a public health care system.

                        • Rand Paul says that lie detector tests should be used to find the deep state operative that wrote the NYT op-ed.
                          I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                          - Justice Brett Kavanaugh

                          Comment


                          • Originally posted by Kidicious View Post
                            Rand Paul says that lie detector tests should be used to find the deep state operative that wrote the NYT op-ed.


                            Mike Pence is VP.

                            Deep state operative lmao. What a moron like you.
                            For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

                            Comment


                            • Originally posted by Kidicious View Post

                              Do you know that fixing the price lower creates more of a shortage?
                              Do you know price gouging kills? Your man Martin Shkrieli would know.
                              For there is [another] kind of violence, slower but just as deadly, destructive as the shot or the bomb in the night. This is the violence of institutions -- indifference, inaction, and decay. This is the violence that afflicts the poor, that poisons relations between men because their skin has different colors. - Bobby Kennedy (Mindless Menance of Violence)

                              Comment

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