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0 pointsyummyfajitas9y ago0 comments

Call it what you will - I know the word "hiatus" puts people in a tizzy - the predictions made in the 90's did not correspond to the graph of what actually happened.

I have no idea how you would describe 2007-2008 as the most significant economic event of the previous years. It's a minor blip at most.

Maybe it's just because I'm not in the US right now, but to me this seems far more significant:

https://s3.amazonaws.com/content.washingtonexaminer.biz/web-...

This is also something pretty significant, and predicted quite nicely by economics: https://qph.ec.quoracdn.net/main-qimg-a9c9410604877c7529d1ea...

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dredmorbius9y ago· 1 in thread

Warming happened. It didn't happen where it was initially predicted. What are you claiming happened in terms of net atmospheric + ocean warmth?

Here's US GDP, percent change from previous year, 1930 - 2016: https://www.census.gov/population/www/censusdata/files/table...

Wikipedia states that:

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

Given that Wikipedia is not in fact a primary source, that's backed with a primary source. Oh, I'm sorry, four:

ReferencesEdit

"Two top economists agree 2009 worst financial crisis since great depression; risks increase if right steps are not taken". Reuters. 27 February 2009. Retrieved 10 November 2015.

Eigner, Peter; Umlauft, Thomas S. (2015-07-01). "The Great Depression(s) of 1929–1933 and 2007–2009? Parallels, Differences and Policy Lessons". MTA-ELTE Crisis History Working Paper No. 2: Hungarian Academy of Science. SSRN 2612243Freely accessible.

Eichengreen; O'Rourke. "A tale of two depressions: What do the new data tell us?". VoxEU.org. Retrieved 2016-02-22.

Temin, Peter (2010-01-01). "The Great Recession and the Great Depression". National Bureau of Economic Research.

https://en.m.wikipedia.org/wiki/Financial_crisis_of_2007%E2%...

Your graphs are utter non sequiturs here, and fail to make any coherent argument, let alone support it.

yummyfajitasOP9y ago

Warming happened. It didn't happen where it was initially predicted

I'm glad we agree that the prediction was wrong. I guess ignore climate science since it made one bad prediction? (Note that I don't advocate this, but if we hold climate science to the same standard some good econ to, we should.)

"Worst financial crisis" and "most significant economic effect" are not the same thing. The graphs I've cited illustrate events of far larger significance than the financial crisis, namely bringing billions out of poverty. That was due mainly to trade liberalization, as predicted by economics.

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