Brilliant economic analysis – NOT

A good opportunity to poke holes in specious spinning just popped up. It also shows what a poor journalistic practice it is to write news stories off of press releases.

The Portland Business Journal reports, uncritically, the comments of a spokesman for the allegedly nonpartisan group, the Oregon Center for Public Policy,  “A Silverton research group reported Friday that Oregon’s per-capita income continues to rise.”

Bully for them.

Thirty seconds on the Internet’s Inflation Calculator revealed that: “What cost $22,070 in 1970 would cost $120,588.66 in 2009.” IOW, “… if you were to buy exactly the same products in 2009 and 1970, they would cost you $22,070 and $3,798.93 respectively.”

The Center went on to cite: The “…U.S. Bureau of Economic Analysis, [which] found that per-capita numbers rose in 2010 by an inflation-adjusted 2 percent. Oregon’s per capita personal income was $37,095 in 2010, that’s up 68 percent from the $22,070 reported in 1970.”

Whoopdee doo.

Last, but not least, Chuck Sheketoff, OCPP’s executive director, said in a statement that “Census Bureau now considers its previously published per capita personal income figures for 2001 through 2009 unreliable.”

Like that’s relevant.

Here is the PBJ’s complete description of the OCPP: “The Oregon Center for Public Policy is a non-partisan research institute that analyzes budget, tax and economic issues.”

But according to an 2009 article in The Oregonian, which calls the Center a “liberal think tank,” Sheketoff says that “30 percent of his funding comes from individual donations and from such unions as the Oregon Education Association and Service Employees International Union.”

Riiiiggght. Non-partisan.

Did we say Portland Business Journal????


About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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