Joe Public's basic understanding of economics

[Doucas]

Re: Joe Public's basic understanding of economics

Thank goodness the Dorcus & Doucas organisation are here to correct everyone.

Given you are berating people for being stupid and then making wild political judgements about it, perhaps you can guess the following, without checking:

1 - Current UK unemployment rate
2 - % increase in NHS budget since 2016
3 - difference between annual immigration and house building in 2022
4 - FTSE change since 2016
5 - wage increases in UK in 2022 vs those in the EU
6 - the number of votes for far-right parties in the UK in the 2019 general election (based on Wikipedia definition)
7 - % increase in minimum wage since 2013

That'll do for now...no checking!!

Yeah you've got me there. Working out a 5% increase on £1 is exactly the same as knowing the ftse change from a very specific year you've picked.

[az city]

Re: Joe Public's basic understanding of economics

Thank goodness the Dorcus & Doucas organisation are here to correct everyone.

Given you are berating people for being stupid and then making wild political judgements about it, perhaps you can guess the following, without checking:

1 - Current UK unemployment rate
2 - % increase in NHS budget since 2016
3 - difference between annual immigration and house building in 2022
4 - FTSE change since 2016
5 - wage increases in UK in 2022 vs those in the EU
6 - the number of votes for far-right parties in the UK in the 2019 general election (based on Wikipedia definition)
7 - % increase in minimum wage since 2013

That'll do for now...no checking!!

Do **** off you condescending clown. Most of those are incorrectly framed - for instance, are we talking real or nominal, what currency are we using for the international comparisons, etc.

[JamesWales]

Re: Joe Public's basic understanding of economics

Do **** off you condescending clown. Most of those are incorrectly framed - for instance, are we talking real or nominal, what currency are we using for the international comparisons, etc.

Oh great, he's back and as pleasant as ever!

If you read the thread, you will note a couple of people cherry picking statistics (including one about transgender people in the US, as far from inflation in the UK as it's possible to get) and then mocking people who get stats wrong and making wild summaries about referendum results from it.

My questions were in jest, which clearly went over your angry head, but it would have been interesting to see their answers as they were suggesting other people got things wrong..but maybe they do too?

To answer your question, 1, 3, 6 and 7 need no more information.

On the others; 2 - real. 4 in pts. 5 - real.

My point is that everyone would get these things wrong. The question is by how much, and to point out that getting these things wrong does not explain any recent referenda or election results.

[JamesWales]

Re: Joe Public's basic understanding of economics

Yeah you've got me there. Working out a 5% increase on £1 is exactly the same as knowing the ftse change from a very specific year you've picked.

Depends. You seem to think that everything is going to hell. Maybe you are wrong on that and maybe that is more important than understanding that inflation is rising but not understanding the exact methodology.

I note you didn't provide any answers, so we can't assess how incorrect you are (and we would all be incorrect on those questions, it just depends by how much)

[Doucas]

Re: Joe Public's basic understanding of economics

Depends. You seem to think that everything is going to hell. Maybe you are wrong on that and maybe that is more important than understanding that inflation is rising but not understanding the exact methodology.

I note you didn't provide any answers, so we can't assess how incorrect you are (and we would all be incorrect on those questions, it just depends by how much)

Electric and gas bills are up by over 100%, mortgage costs are basically doubling currently, inflation is running rampant, rent is sky rocketing, NHS is on its knees, most corrupt government in living memory.

Yeah everything is going fine.

[JamesWales]

Re: Joe Public's basic understanding of economics

Electric and gas bills are up by over 100%, mortgage costs are basically doubling currently, inflation is running rampant, rent is sky rocketing, NHS is on its knees, most corrupt government in living memory.

Yeah everything is going fine.

No one is saying it's going fine. This isnt a thread about that. This is about how accurate people's guesses on economic or social statistics are. And I suspect that the people bearating others for getting things wrong are equally guilty of getting things wrong.

[SLUDGE FACTORY]

Re: Joe Public's basic understanding of economics

Same with transgender people and immigration. One poll in the USA thought that 20% of people were transgender. I think it's more like 0.2%?

Same with immigration levels.

I saw an article before that showed various examples that the average Britain is basically wrong on everything.

That's why we end up with our current government and brexit.

The average Briton is thick as feck

[Doucas]

Re: Joe Public's basic understanding of economics

No one is saying it's going fine. This isnt a thread about that. This is about how accurate people's guesses on economic or social statistics are. And I suspect that the people bearating others for getting things wrong are equally guilty of getting things wrong.

If someone can't work out a 5% increase of £1 it's fair to say they're thick, same as if someone thinks 20% of the population is transgender. If you don't know how much the FTSE has increased since 2016 (cherry picked this year by any chance?) then you wouldn't class them as thick.

This is an a false equivalence and you know this.

None of these questions on the link below link are the equivalent to most of the questions you've asked, maybe only the minimum wage one. People thinking crap like the below are the reason we had brexit and 13 years of tory.

https://www.independent.co.uk/news/uk/home-news/british-public-wrong-about-nearly-everything-survey-shows-8697821.html

[SLUDGE FACTORY]

Re: Joe Public's basic understanding of economics

If someone can't work out a 5% increase of £1 it's fair to say they're thick, same as if someone thinks 20% of the population is transgender. If you don't know how much the FTSE has increased since 2016 (cherry picked this year by any chance?) then you wouldn't class them as thick.

This is an a false equivalence and you know this.

None of these questions on the link below link are the equivalent to most of the questions you've asked, maybe only the minimum wage one. People thinking crap like the below are the reason we had brexit and 13 years of tory.

https://www.independent.co.uk/news/u...s-8697821.html

That definitely shows a lot of our fellow citizens are complete air heads

[JamesWales]

Re: Joe Public's basic understanding of economics

If someone can't work out a 5% increase of £1 it's fair to say they're thick, same as if someone thinks 20% of the population is transgender. If you don't know how much the FTSE has increased since 2016 (cherry picked this year by any chance?) then you wouldn't class them as thick.

This is an a false equivalence and you know this.

None of these questions on the link below link are the equivalent to most of the questions you've asked, maybe only the minimum wage one. People thinking crap like the below are the reason we had brexit and 13 years of tory.

https://www.independent.co.uk/news/u...s-8697821.html

Who made you the judge and jury of who is or isn't 'thick'?

I suspext that you would very very likely think nearly every UK economic metric is worse than it actually is - certainly that would explain your rhetoric. Why is that not 'thick' but not knowing the methodology behind inflation calculations is 'thick'?

And do you have any evidence on how the people who answered the question on inflation voted in the various elections in 2010 to 2019 in order to back up your second claim? If not, does making rash generations on no evidence not make you 'thick'?

Presumably you have data that Welsh people's answers were more likely to be correct than the UK average, given we elected Labour in the senedd and are thus less 'thick', too?

In reality this whole thread seems to come down to the idea that anyone who thinks differently to you is 'thick'. It's a shame, as the original premise of public perception v reality is an interesting one, and it doesn't need partisan commentary or wild assumptions about unrelated topics.

[Wales-Bales]

Re: Joe Public's basic understanding of economics

Electric and gas bills are up by over 100%, mortgage costs are basically doubling currently, inflation is running rampant, rent is sky rocketing, NHS is on its knees, most corrupt government in living memory.

Yeah everything is going fine.

I've been warning about this for ages and I got called a conspiracy theorist. You need to know it's not the government who are behind this, they are just following Agenda 30/50 as set out by the WEF and other globalist organisations. If you think Starman is going to make any difference then you are in for a nasty surprise as he is riding on the same train. The good news is we are still living in the good times. Things are going to get a lot worse with life changes that are beyond comprehension.

[The Bloop]

Re: Joe Public's basic understanding of economics

Last year I read a comment on WOL about inflation and a teachers (I think) asking for a 10% payrise to match inflation.
The comment asked if next year, inflation is down to 3%, would they be happy to take a 7% paycut?

[Doucas]

Re: Joe Public's basic understanding of economics

Last year I read a comment on WOL about inflation and a teachers (I think) asking for a 10% payrise to match inflation.
The comment asked if next year, inflation is down to 3%, would they be happy to take a 7% paycut?

Boomer economics.

[jon1959]

Re: Joe Public's basic understanding of economics

Last year I read a comment on WOL about inflation and a teachers (I think) asking for a 10% payrise to match inflation.
The comment asked if next year, inflation is down to 3%, would they be happy to take a 7% paycut?

The best example of the OP point yet. :hehe:

Terrifying!

[fugsyphil]

Re: Joe Public's basic understanding of economics

Same with transgender people and immigration. One poll in the USA thought that 20% of people were transgender. I think it's more like 0.2%?

Same with immigration levels.

I saw an article before that showed various examples that the average Britain is basically wrong on everything.

That's why we end up with our current government and brexit.

Spot on