2015 Q4 GDP (first estimate): +0.7%

boards of FL wrote:

PkrBum wrote:Lol... I hadn't even read this. Omy... I guess I have to concede that the economy grew at .7. Congratulations comrade.

Until the revision... amiright?

You still have somehow managed to not respond, and I'm running out of ways to dumb this down any further.  Do you understand what I have asked you?  

You said this:

PkrBum wrote:.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

Can you explain what your point was or whatever it was that you were trying to suggest there?  I swear this isn't a trick question.  

The answer isn't a trick answer either.

If a Republican President had such a disastrous record Democrats would be livid. Instead, the Democrats have shifted the spin into overdrive.

I have enjoyed this discussion but the most conspicuous element omitted regarding the .7% growth in GDP should be transposed against the global economy . . . . . . the world economy is in a state of malaise and the US is one of the few remaining growing economies. It is not a condemnation of the US economy per se but a reflection of a slowing world economy.

PkrBum wrote:My point was that this is a very poor indicator... and that you will not honestly report that. Are you buying?

You are seriously dense.  If we look back through this thread, we see that I first posted a link directly to the actual GDP report.   I can't possibly be any more objective than that.  Your response to that was to tell me that I'm being unobjective and dishonest, and your basis for that assertion was some unintelligable rambling about inflation that you were never able to actually explain.  You basically said that I was being unobjective and dishonest because I didn't come out and say "The end is nigh!!"  That in itself suggests that you don't know what it means to be 'objective'.   I mean, we irrefutably know at this point that you don't know what 'objective' means.  

But what really gets me is the ego required to enter a thread based on subject matter that you clearly know absolutely nothing about, and then proclaim others - people who have masters degrees in that subject - as being dishonest and unobjective.  And your reasoning for that lies in your own ignorance of the subject matter!  You know so little about GDP - the most fundamental measure of the economy that has been released every quarter of your life - that you didn't even know that the headline number is adjusted for inflation.  

And you regularly use the term 'useful idiots'.  

Your diagnosis is in, PkrDumb.  You still don't pass the Turing test, though I think we can safely assume that you are not a robot at this point.  You're just really really incompetent and delusional.

https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

The Dunning–Kruger effect is a cognitive bias in which relatively unskilled persons suffer illusory superiority, mistakenly assessing their ability to be much higher than it really is. Dunning and Kruger attributed this bias to a metacognitive inability of the unskilled to recognize their own ineptitude and evaluate their own ability accurately. Their research also suggests corollaries: highly skilled individuals may underestimate their relative competence and may erroneously assume that tasks which are easy for them are also easy for others.[1]

The bias was first experimentally observed by David Dunning and Justin Kruger of Cornell University in 1999. They postulated that the effect is the result of internal illusion in the unskilled, and external misperception in the skilled: "The miscalibration of the incompetent stems from an error about the self, whereas the miscalibration of the highly competent stems from an error about others."[1]

Bottom line is that our economy is in the toilet.

We have yet to have a good year since our Lame Duck President took office.