OBTW ... To me the part I find fascinating about Macroeconomics is the conceptualization of data to make sense of the raw statistics presented to understand the past, present and the possible futures, including the plausible. The big picture. Yes, I realize that is what you do as well. However, you are restricted by your over training. I do not limit myself to absolutes or absolute outcomes precited by absolute data.
.
Later.
I'm "browbeating" you, but then you pass judgement on me about how my "training" limits me? Can you walk me through exactly how these two thoughts can be held in your head at the same time?
Edit: how do you think you even know what my thoughts are well enough to be able to say I'm "limited" by them? Include that response in your answer please.
Edit 2: I apologize for all the edits, but can you please include an explanation of how exactly "over training" "restricts" the over-trained?
I assure I do not live in a black and white world. I was specifically trying to contextualize data you offered in my response to your original post. And, I even included a figurative analogy in my response. Go if you must, but if you refuse to engage with anyone who disagrees with you a little in a reasoned debate, you will never be intellectually challenged enough to learn to defend your opinions in a convincing manner.
This you: ?
Th1nk1ngTh1ng wrote:
May be this isn't the proper place for what I believe. Which, if true, isn't a judgement. I'll just quietly leave.
This also you?
Th1nk1ngTh1ng wrote:
Please do not ever respond to another one of my posts.
I'm not interested in anything you have to say about anything.
If you do respond to anything I have to say going forward on this site, I will consider it harassment and bullying.
Your thoughts are not welcome when it comes to my posts.
Go if you must, but if you refuse to engage with anyone who disagrees with you a little in a reasoned debate, you will never be intellectually challenged enough to learn to defend your opinions in a convincing manner.
You really are new around here.
Your browbeating is unbecoming.
OBTW ... To me the part I find fascinating about Macroeconomics is the conceptualization of data to make sense of the raw statistics presented to understand the past, present and the possible futures, including the plausible. The big picture. Yes, I realize that is what you do as well. However, you are restricted by your over training. I do not limit myself to absolutes or absolute outcomes precited by absolute data.
1) It is a widely accepted quote attributed to Mark Twain and perhaps others that pertains to discussions such as these.
2) I do not have a degree in your field. Mine is only a recent (2007) BBA in Organizational Management coupled with only 50 plus years of retail work in some form or another so I guess that I do not have the qualifications to discuss these kinds of things. I also have a 1994 AAS in Ophthalmic Dispensing but all of this is irrelevant I would guess.
3) I did not give them a pass, just mentioned that they were statistics and one of them represents a trend.
I guess we are done. You live in too much of a black and white world where figurative and analogous conversations do not work. Which is ironic because I get accused of the same thing here by many others.
I tried. Oh well, c'est la vie. I shall not bother you again.
I assure I do not live in a black and white world. I was specifically trying to contextualize data you offered in my response to your original post. And, I even included a figurative analogy in my response. Go if you must, but if you refuse to engage with anyone who disagrees with you a little in a reasoned debate, you will never be intellectually challenged enough to learn to defend your opinions in a convincing manner.
As a footnote I will add that you mentioned you love macroeconomics. Macroeconomics is a science firmly grounded in statistics.
If statistics are the lies and damn lies that you say they are, why do the statistics you chose in your original post get a pass?
Far too logical for Kurt.
Closing the loop on his blind posting generates the standard "I'm out"... you believe what you want... I do my own research with my own facts... but you're the smart one...
1) You don't know what an "axiom" is, according to your argument.
2) (I have an MS in Probability and Statistics) Statistics is a science of how reliable the available data is, not a positive answer about what the data says.
3) If statistics are the lies and damn lies that you say they are, why do the statistics you chose in your original post get a pass?
1) It is a widely accepted quote attributed to Mark Twain and perhaps others that pertains to discussions such as these.
2) I do not have a degree in your field. Mine is only a recent (2007) BBA in Organizational Management coupled with only 50 plus years of retail work in some form or another so I guess that I do not have the qualifications to discuss these kinds of things. I also have a 1994 AAS in Ophthalmic Dispensing but all of this is irrelevant I would guess.
3) I did not give them a pass, just mentioned that they were statistics and one of them represents a trend.
I guess we are done. You live in too much of a black and white world where figurative and analogous conversations do not work. Which is ironic because I get accused of the same thing here by many others.
I tried. Oh well, c'est la vie. I shall not bother you again.
IMHO one the worst - of many things - that has made the presidential election process in this country so very toxic is how the economy has been tied so closely to the office.
The bottom line for anyone who studies economics or public finance is that the POTUS doesn't really have that much control over the economy.
POTUS has only two levers. Discretionary fiscal policy and monetary policy. Fiscal policy requires Congress to pass legislation. The only lever the POTUS can pull on monetary policy is by appointing members to the Federal Reserve board.
Indeed. You as an actuary would certainly know this famous axiom.
There are three kinds of lies.
Lies, damn lies and statistics.
I find that the analysis of trends to be very meaningful.
A) above are statistics. B) above represents a trend.
Statistics would be the trees. Trends would be the forest. I ⥠macroeconomics.
I do my own homework. The most important part of research and finding a "truth" is knowing the correct questions to ask.
Is Truth supported by a particular set of statistics a Truth or The Truth ?
Back to you.
1) You don't know what an "axiom" is, according to your argument.
2) (I have an MS in Probability and Statistics) Statistics is a science of how reliable the available data is, not a positive answer about what the data says.
3) If statistics are the lies and damn lies that you say they are, why do the statistics you chose in your original post get a pass?
A) October jobs report. 12,000 jobs added. Worst since 2020.B) Last 3 months nearly 80,000 manufacturing jobs lost.
The economy is more than one data point. A person can always find a negative data point in a strong economy or a positive data point in a bad economy. Macroeconomics is more about the forest than the trees. GDP is still strong this month. And, while you may not care for this jobs number, the unemployment rate is unchanged at 4.1%. It seems to me that this particular jobs added data may be an outlier given some of the strikes and acts of god. However, if the jobs market is going through a downturn, that would be a sign that inflation is easing. My above analysis is why I always kind of hate it when politicians cite economic data. Trump, in particular, always annoyed me with the language he used to describe the economy during his presidency. Mostly because he usually claimed as wins for things he couldn’t have any control over, if one understands a little about the study of the field.
Indeed. You as an actuary would certainly know this famous axiom.
There are three kinds of lies.
Lies, damn lies and statistics.
I find that the analysis of trends to be very meaningful.
A) above are statistics. B) above represents a trend.
Statistics would be the trees. Trends would be the forest. I ♥ macroeconomics.
I do my own homework. The most important part of research and finding a "truth" is knowing the correct questions to ask.
Is Truth supported by a particular set of statistics a Truth or The Truth ?
The economy is more than one data point. A person can always find a negative data point in a strong economy or a positive data point in a bad economy. Macroeconomics is more about the forest than the trees.
GDP is still strong this month. And, while you may not care for this jobs number, the unemployment rate is unchanged at 4.1%. It seems to me that this particular jobs added data may be an outlier given some of the strikes and acts of god. However, if the jobs market is going through a downturn, that would be a sign that inflation is easing.
My above analysis is why I always kind of hate it when politicians cite economic data. Trump, in particular, always annoyed me with the language he used to describe the economy during his presidency. Mostly because he usually claimed as wins for things he couldnât have any control over, if one understands a little about the study of the field.
IMHO one the worst - of many things - that has made the presidential election process in this country so very toxic is how the economy has been tied so closely to the office.
October jobs report. 12,000 jobs added. Worst since 2020.
Last 3 months nearly 80,000 manufacturing jobs lost.
The economy is more than one data point. A person can always find a negative data point in a strong economy or a positive data point in a bad economy. Macroeconomics is more about the forest than the trees.
GDP is still strong this month. And, while you may not care for this jobs number, the unemployment rate is unchanged at 4.1%. It seems to me that this particular jobs added data may be an outlier given some of the strikes and acts of god. However, if the jobs market is going through a downturn, that would be a sign that inflation is easing.
My above analysis is why I always kind of hate it when politicians cite economic data. Trump, in particular, always annoyed me with the language he used to describe the economy during his presidency. Mostly because he usually claimed as wins for things he couldnât have any control over, if one understands a little about the study of the field.
Not that anyone cares, ha...but I'm sure if we were chatting over a beer on the beach we would find we arent too far off in view...posting isnt the best medium for discussing complex issues.
I don't think we are too far off here (apologies if I seem that way). I am on the beach and have beer, come on over - we'll solve the world's problems.
I'll take up the other tangent discussion in another thread later. But let me state that I used to have a very similar attitude to you. I still generally agree on principle, but I've come to a different understanding of the broader system and it's inequities. I've also allowed for a larger range of "I'm not in anyone else's head so careful judging their choices". And I've also spent a lot of time the last few years studying incentive structures and trying to find ways to align incentives and outcomes (TL/DR - It's really hard and often the incentive at hand will lead to an outcome you don't want).
I still think if wages had kept up as they should have, a lot of people would have some savings, or at least have a better plan.
Not that anyone cares, ha...but I'm sure if we were chatting over a beer on the beach we would find we arent too far off in view...posting isnt the best medium for discussing complex issues.
Is it the fault of an American individual who suffers a serious injury/illness but who can't obtain health insurance, or sufficient health insurance?
Even the most diligent saver, using a health insurance policy and putting money into a health savings account, will have that savings wiped out within a week if s/he needs emergency care and/or specialist intervention.
Here are some macro stats:
Paying for It: How Health Care Costs and Medical Debt Are Making Americans Sicker and Poorer
Findings from the Commonwealth Fund 2023 Health Care Affordability Survey
OCTOBER 26, 2023
The Commonwealth Fund Health Care Affordability Survey, fielded for the first time in 2023, asked U.S. adults with health insurance, and those without, about their ability to afford their health care â whether costs prevented them from getting care, whether provider bills left them with medical debt, and how these problems affected their lives.
Survey Highlights
Large shares of insured working-age adults surveyed said it was very or somewhat difficult to afford their health care: 43 percent of those with employer coverage, 57 percent with marketplace or individual-market plans, 45 percent with Medicaid, and 51 and percent with Medicare.
Many insured adults said they or a family member had delayed or skipped needed health care or prescription drugs because they couldnât afford it in the past 12 months: 29 percent of those with employer coverage, 37 percent covered by marketplace or individual-market plans, 39 percent enrolled in Medicaid, and 42 percent with Medicare.
Cost-driven delays in getting care or in missed care made people sicker. Fifty-four percent of people with employer coverage who reported delaying or forgoing care because of costs said a health problem of theirs or a family member got worse because of it, as did 61 percent in marketplace or individual-market plans, 60 percent with Medicaid, and 63 percent with Medicare.
Insurance coverage didnât prevent people from incurring medical debt. Thirty percent of adults with employer coverage were paying off debt from medical or dental care, as were 33 percent of those in marketplace or individual-market plans, 21 percent with Medicaid, and 33 percent with Medicare.
Medical debt is leading many people to delay or avoid getting care or filling prescriptions: more than one-third (34%) of people with medical debt in employer plans, 39 percent in marketplace or individual-market plans, 31 percent in Medicaid, and 32 percent in Medicare.
yes people shouldnt go broke because they get sick, physically or mentally. that's why i said to anyone NOT dealing with medical...
bullshit
let me qualify that...bullshit to anyone not dealing with a medical emergency due to a lack of universal healthcare.
this country has a spending problem, not a revenue problem, from the gov down to the high school grad.
Is it the fault of an American individual who suffers a serious injury/illness but who can't obtain health insurance, or sufficient health insurance?
Even the most diligent saver, using a health insurance policy and putting money into a health savings account, will have that savings wiped out within a week if s/he needs emergency care and/or specialist intervention.
Here are some macro stats:
Paying for It: How Health Care Costs and Medical Debt Are Making Americans Sicker and Poorer
Findings from the Commonwealth Fund 2023 Health Care Affordability Survey
OCTOBER 26, 2023
The Commonwealth Fund Health Care Affordability Survey, fielded for the first time in 2023, asked U.S. adults with health insurance, and those without, about their ability to afford their health care â whether costs prevented them from getting care, whether provider bills left them with medical debt, and how these problems affected their lives.
Survey Highlights
Large shares of insured working-age adults surveyed said it was very or somewhat difficult to afford their health care: 43 percent of those with employer coverage, 57 percent with marketplace or individual-market plans, 45 percent with Medicaid, and 51 and percent with Medicare.
Many insured adults said they or a family member had delayed or skipped needed health care or prescription drugs because they couldnât afford it in the past 12 months: 29 percent of those with employer coverage, 37 percent covered by marketplace or individual-market plans, 39 percent enrolled in Medicaid, and 42 percent with Medicare.
Cost-driven delays in getting care or in missed care made people sicker. Fifty-four percent of people with employer coverage who reported delaying or forgoing care because of costs said a health problem of theirs or a family member got worse because of it, as did 61 percent in marketplace or individual-market plans, 60 percent with Medicaid, and 63 percent with Medicare.
Insurance coverage didnât prevent people from incurring medical debt. Thirty percent of adults with employer coverage were paying off debt from medical or dental care, as were 33 percent of those in marketplace or individual-market plans, 21 percent with Medicaid, and 33 percent with Medicare.
Medical debt is leading many people to delay or avoid getting care or filling prescriptions: more than one-third (34%) of people with medical debt in employer plans, 39 percent in marketplace or individual-market plans, 31 percent in Medicaid, and 32 percent in Medicare.
There are a lot of unimaginable situations for those lucky enough to avoid them. Hard working, fiscally responsible people often encounter hurdles they can't cross through no fault of their own. A functional society offers support, not condemnation. Every day, I see evidence that luck, not effort or intelligence, are the differentiator.
Far easier to blame a victim than to help them. Add a little optimism bias...
There are a lot of unimaginable situations for those lucky enough to avoid them. Hard working, fiscally responsible people often encounter hurdles they can't cross through no fault of their own. A functional society offers support, not condemnation. Every day, I see evidence that luck, not effort or intelligence, are the differentiator.
Hard work and persistence gives you the opportunity to be present when luck comes around.