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To: Will88
Here's an illustration, before I lose it--Taxes, Depression, and Our Current Troubles. There is a poster on that thread who challenges Laffer's historical observations about Smoot-Hawley by commenting that Laffer failed to predict the housing crisis.

All I'm saying is that, if you want to prove that Smoot-Hawley didn't contribute to the Great Depression, you have to show some numbers supporting the same . . . none of this, "yeah, but we all know the Earth is flat" (or "he was wrong about Mars") stuff.

46 posted on 10/05/2009 7:26:50 AM PDT by 1rudeboy
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To: 1rudeboy

You are far out in left field in all your responses. It is undeniable that when the elements which make up the denominator from which stats are generated are changing significantly, then the stats generated are of very questionable validity.

That is very much the case when any one element of years or decades because the various sectors of our economy which make up total GDP have changed so much since 1947.

And, you are trying to twist things around. I have stated, correctly, that these stats of one element of GDP compared to the total do not prove any valid relationship or causative factor. It does not follow, as you claim, that having proved a statistical method invalid, that I must also prove the claimed relationship to be invalid.

You must prove your claims to be valid by some valid method.


48 posted on 10/05/2009 7:35:18 AM PDT by Will88
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To: 1rudeboy

On the subject of the Great Depression, I just came across some graphs illustrating the change in GDP and the change in money supply. I believe that some external factors, such as government taxation and money supply can generate valid stats as a percentage of GDP. These aren’t stats, but are very interesting charts:

http://www.usstuckonstupid.com/sos_charts.php

The Fed caused the Great Depression, and prolonged it.


51 posted on 10/05/2009 8:31:33 AM PDT by Will88
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