Archive for January 24th, 2012

January 24, 2012

The Daily Scoop: Obama Vow on Exports Is on Track, With Help

WASHINGTON — Two years ago, President Obama popped a surprise into his State of the Union address: His administration would double American exports in five years, helping to create two million jobs.

The bold promise sent the eyebrows of economists and policy experts upward, even as they applauded its intent.

Two years later, the administration is on track — for now — to meet its ambitious goal. Growing exports have been one of the central drivers of the recovery, accounting for about half the nation’s economic growth since the recession ended. Economists say the administration deserves credit for some of the gains.
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January 24, 2012

Graphic Content: Correlation Or Coincidence?

Originally posted on Brucetheeconomist's Blog:

 

A number of people have sent me this, so in case you haven’t seen the latest in the treasure trove of funny correlation does not imply causation graphs, here it is. From Businessweek:

(Click to see the full-size graphic on the original site, of course.) Most of these examples are absurd enough that people wouldn’t be likely to wrongly infer causality from them, but this might not be the case if the comparisons were more reasonable…or if people, as I do, believe that both Facebook and mountains are causing the downfall of Western civilization.

I was originally going to make a point about spurious correlation, but I am told that spurious correlation, rather than being random, occurs when events appear to be linked because they share a common cause. Raging narcissism of bankers aside, I can’t imagine that, for example, the rise of Facebook and the Greek…

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