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fuzzy numbers vid 15 mins - 10/11/2008 7:19:29 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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http://www.chrismartenson.com/crash-course/chapter-16-fuzzy-numbers

I know I posted a general link to the course, but I want to point attention to how the numbers are so wrong. the imputed value of your house is part of the GDP. if real inflation was used social sec checks would be 70% higher.
I knew the numbers were wrong... here is why.

http://www.chrismartenson.com/crash-course/chapter-15-bubbles on this one pick it up 1/2 way in. it says the housing buble will go to 2015. It gives reasons. It is the clearest explanation I have seen yet.

So lets open these up to discussion:

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RE: fuzzy numbers vid 15 mins - 10/11/2008 7:25:14 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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hedonics:

quote:

If you bought a $2000 computer 3 years ago, and then replaced it with another $2000 computer today that is twice as fast, it can (but isn't always - this is a general example only) be counted as roughly a $4000 computer in the GDP since its twice as fast. This completely ignores that a computer that is twice is fast does not double the amount of work done by or with that computer, or even close.

http://www.nowandfutures.com/glossary.html

(in reply to pahunkboy)

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