Economy – statistics are twisted to tell *their* story

economic-animation On the NBC Nightly News (here in the USA) there was a news story on entrepreneurs starting new business. To make the story interesting they quoted, "more than half of the fortune 500 started during a down turn".

Well DUH !. Unless the planets aligned, there was a 50/50 chance that statistic would be true. The real numbers have some variability in them because not all of the fortune 500 have recorded start dates. Still, the ration may be somewhere around 255 to 245.

Somehow saying, "5% more companies are started in a down turn than in an economic up swing" just doesn’t sound as important.

One Comment

  1. Ed says:

    84% of statistics are made up out of thin air.

    … and half the people are dumber than average …