The Wall Street Waltz: 90 Visual Perspectives, Illustrated Lessons From Financial Cycles and Trends, Revised and Updated Edition

PART 3

ANALYZING BUSINESS CYCLES, GOVERNMENT FINANCE, AND QUACKERY

It always amazes me how much unfounded financial mythology pervades human minds, both in social interaction and through the media. Folks flap their jaws without first checking to see if the “facts” they're repeating are even close to being true. Charts can provide a quick visual check on whether the herd's blatherings have any basis in fact, or are merely restatements of accepted mythology. The charts in this part illustrate business phenomena, government finances, and some of the perceived quackery that divides what we accept as fact from what we don't. The charts help provide a clear visual perspective of facts that allow you a better grasp on reality.

There may be no subject that generates more myth and mindless hysteria than government finance. Politicians have a vested interest in pushing mistruths to seek election. The media focuses on sensationalism to sell copy. And we mindlessly pass on what we hear to liven our cocktail parties. It's no wonder that the guy on the street believes the myths he is exposed to. He hears it from all quarters. After all, if everyone says it's so, isn't it likely to be? Bah humbug. This part's nine visual perspectives on government finance cover issues ranging from debt to taxes, deficits, government spending, growth of government, the states versus Uncle Sam, and more.

The Debt and the Deficit

For instance, you will see at a glance that the federal debt “crisis” is a problem, ...