The Crash Course - Chapter 18 - Fuzzy Numbers

How we're deluding ourselves with bad data

What if it turned out that our individual, corporate and government decision-making was based on misleading, if not provably false, data?

As we detail in this latest chapter of the Crash Course series, that's exactly the case today with the key indicators (inflation, GDP, employment, deficits, etc) our central planners are using to guide the future of the global economy.

The cumulative effect of all this statistical sleight of hand serves only to make things seem rosier than they actually are. If this is not lying to ourselves, then “deluding ourselves” is the next best term.

Keep this self-deception in mind when you next read about how “our robust economy is still expanding”.

We are now in the midst of a worldwide debt orgy, dangerous asset bubbles, the beginning waves of boomer retirements - and solid, credible information is what we need as a beacon to find our way out.

• Category

  • People & Blogs

• License

  • Standard YouTube License