Thursday, November 10, 2011

Idiotic Political Calculations

UPDATE: This clown is now spouting his graphically verbose nonsense all over Seeking Alpha. Somehow I thought they were a serious site...

TLDR: Ironman from Political Calculations posts visually stimulating but utterly meaningless crap. In this example, I show how his "GDP per Capita" graph is really "GDP per Capita per Capita", which is like measuring the MPG per gallon of a car and concluding that filling the tank half full doubles the fuel economy.

I wouldn't normally care that a blog called Political Calculations has published the following visually pleasing but ridiculous graph that overstates the U.S. debt burden in 1831 relative to 2010 by a factor of 23:

COMPLETELY BOGUS DEBT CHART
EXCEPT that this blog has been picked up up by two publications that I respect, namely Reason Magazine and Townhall. In this time of unprecedented fiscal irresponsibility and risk, the last thing that we need to do is to understate the debt problem so severely.