Facebook Factcheck Fail

image_pdfSave to pdf fileimage_printPrint

There was a big Facebook factcheck fail about a week ago.  It started when I posted this:

Bidinflation Facebook Factcheck Fail

(click for larger image)

Seems straightforward.  Imagine my surprise when Facebook flagged it.

Facebook notice Facebook Facebook Factcheck Fail

(click for larger image)

Missing context?  Luckily it was easy for me to find the relevant table on the BLS website.  Just for my readers, here’s the comparison of the image I posted with the actual figures from the BLS.

Bidinflation items Facebook Factcheck Fail

(click for larger image)

Missing context?  Here are the inflation rates for the CPI and its components over the last 21 months.

(click for larger image)

Sure, the context makes a huge difference. Most of the components are currently around 5 percent. That line way up at the top of the graph is transportation, coming in hot at 20 percent at its peak.  FWIW, these are year over year rates.

Update: here’s the Politi”fact” “reasoning.”

Facebook reply Facebook factcheck fail

(click for larger image)

Share if you feel like it

About Tony Lima

Retired after teaching economics at California State Univ., East Bay (Hayward, CA). Ph.D., economics, Stanford. Also taught MBA finance at the California University of Management and Technology. Occasionally take on a consulting project if it's interesting. Other interests include wine and technology.

5 Replies to “Facebook Factcheck Fail”

  1. Pingback: It’s Not Your Turn for Shortages | Top Technical Solutions

  2. Pingback: Inflation, Its Causes, and Money - GonzoEcon