Wednesday, December 03, 2008
Layers of fact-checkers...
The layers of fact-checkers and editors at Newsweek apparently do not include people who can do math.
3 Comments:
By 
, at
Thu Dec 04, 12:27:00 AM:
Not so fast my friend.
True, the lower growth rates mean it will take china longer to catch us. But it will double in 1/5 the time it takes us to double.
Now it is on a pace to double in 1/3 the time it takes us to double.
yep, 5 and 3 happen to be relevant to this party, but just not quite in the way Zakaria thought.
If China grew at 9% and we grew at 9%/5, it would take them 5 times less to double the size of their economy.
Unfortunately, the dunderhead, whom I great admire usually, got it about half right. (Rule of 72 and all that, which in fact is really the rule of 69 for all you aspiring CFOs out there.)
By , at
Thu Dec 04, 12:38:00 AM:
By the way, this is why the SEC and most of Wall Street is pretty much incompetent at what they do. If it doesn't fit in a nice little box worked out for them in advance, they can't think on the fly....and bad things happen.
I think every company trading in derivatives for example needs a high sophisticated quant guy, which aren't easy to come by (they go into other ventures - teaching often)
By 
Assistant Village Idiot, at
Thu Dec 04, 09:37:00 PM:
Billy Bob is right. I'm not sure about Ramesh. What he wrote is a little ambiguous.
