False Specificity in Government Projections
Every point value prediction you hear, ignore immediately
A very quick note from the London Blockchain Conference, where people are obsessed with accurate, verifiable, immutable data.
Whenever you see any article like this from politicians or acronym-heavy DC agencies, be very careful about believing anything.
Now, many smart, attentive people might be surprised to learn there is such a thing as The White House Council of Eononomic Advisors. It exists. More on that later.
What does not exist in a real, objective sense is this insanely accurate prediction of the stock market “plunging” 45 percentage points, should the US government be forced to manage its credit card bills the way parents force their teenager to manage spending versus available cash.
Why not 41.75% Or 51.25%
A “0.6% fall in annualized GDP,” huh? Why not 0.7%?
It’s ridiculous.