Statistics - Part II

On Thursday as some of you may know ... well at least three of my four readers because that is often when I attempt to call you on my forty five minute drive home ... I get to listen to an extended section of talk / news radio.

Now why talk / news radio and not music which would certainly be more relaxing ... I guess I like to either (a) laugh at the callers, (b) be mystified by the idiocy of the people allowed to spill forth their conspiracy theories both right and left and how either the right or the left is so wrong, and finally (c) to learn some useless facts to impress my dinner table companions. At least I have a reason, why do you listen to than nonsense music by people you would not share a beer with in the real world not your fantasy imagination.

Well, tonight I listened to two more wonderful statistics.

First up, how much did the economy grow or shrink last quarter? For those of you not so knowledgeable ... that would be the months January to March 2008. Well, the announcer was sorry to say that it grew at an anemic .6% ... that is six tenths of one percent. Now, since you might not be so all knowing of what context that is in, the U.S. economy grows, in good times, at between 2.5 - 3.5%. China is currently growing at 12 - 15%. Now, here is where the statistics are so much fun. Which number is better and which is worse?

Of course, .6% is bad and 12% is good ... right? Sorry only if that is what you want the answer to be. See if you say that the U.S. is in a recession or almost in a recession or teetering on a recession then the growth rate would be a negative number. So for the non recession boosters, a positive number no matter how small is a good thing. And the other number? Well, China is trying to slow its growth because 12 - 15% is dangerously too fast. So, its a number and its what you what it to be. But alas, the reporter only gave us "anemic" and "robust".

Gas prices are souring ... by summer time the average price should be over $4.00 per gallon. Republicans and Democrats alike are clamoring for political points advocating a tax holiday from the onerous Federal and state taxes on gasoline. At the same time a major oil company reported a 17% increase in profits over last year. These two numbers were not something the reporter tried to bring together and ask the big question. Oil is a cost of goods sold for the Oil Companies, that is purchasing oil is what it costs the Oil Companies to sell to the thirsty public. Well, last year oil cost around $80 per barrel and now a year later its $115 per barrel. So, the cost to sell went up $35 dollars. Now normally when a companies cost of goods sold go up almost 50% you would think that logically a company's profit would go down but no that is not what happened. Profit went up 17%. Anyone curious how that works and no one asks why?

Numbers, so many numbers and no real questions.