Political Distortions

Politics and politicians are full of lies. During an election year, nothing is out of bounds.

While character attacks are difficult to disprove, economic claims are not. Data are available (and often manipulated) to the politician’s advantage. James Pethokuokispresents what he terms the seven most illuminating economic charts of 2011. There is little resemblance between what these charts show and what the current Administration claims.

Here is just one that shows the wealth share of the top 1% over time:

Contrary to the oft-repeated claim that the rich are getting richer, this chart shows just the opposite. Do not take this to be a defense of the corruption going on. Many people on Wall Street and in government should be in jail.

Take a look at the other six charts and Mr. Pethokuokis’s commentary. You likely will be surprised by some of his findings/claims. Obviously there are different ways to cut and look at data, so don’t make too much of his conclusions other than there is another side to matters that does not get presented by our politicians and their media minions.