Trinh Profile picture
30 Oct, 13 tweets, 4 min read
I'm reading about polls (we actually have votes now as it is T-4) so polls increasingly less important.

What do you know about polls? As in how they are done? Let me summarize this article I read on why u should be skeptical

politico.com/news/magazine/…
In 2016, Arie Kapteyn (Dutch Economist for USC) & Robert Cahaly (Republican pollster for Trafalgar Group) saw Trump coming while others didn't as they predicted Trump getting Penn, Michigan, FLorida & NC & he won all.

Let's talk about how they think current polls underestimate.
3 factors they discuss that u should know:
1) Existing polls that use PHONE is outdate b/c who has time to answer 23 mins of phone conversation & tell someone what they really think if they're a Trump supported & so people answer are EXTREME or BORED. Short & anonymous is better.
So they discussed the issue w/ the methodology itself as phone/in person only gets motivated people to answer esp if the survey is pretty long.

2) Beyond the way polls are conducted, which they think should be short & anonymous, polls should address the issue of social stigma.
They already discussed the difference b/n popular vote vs electoral where general polls get right for popular but not electoral but frankly who sits in the White House is electoral so whatevs.

The issue of social stigma goes back to human psychology & that we want acceptance.
As in, we are aware of what the others think & in 2020 the way the mainstream media defines a Trump support is WORSE THAN 2016. In 2016, they were just "deplorables", yes Hillary said that. But in 2020, they get punished for expressing outside mainstream opinions & even beat up!
Say you live in a neighborhood that has 1 person that is very ANTI TRUMP. And you are generally polite & u want that person to like you, then you NEVER WOULD SAY U ARE PRO TRUMP, unless u get a kick out of antagonizing your neighbor b/c anti Trump voters are very vocal & visceral
People know that they're judged badly for being a Trump supporter, esp if they are a nice person & don't fit into the mainstream narrative of a Trump supporter then they'd never say it. Reverse happens for Biden supporter in a super Trump area but the stigma for Biden isn't there
Word that they use is "social desirability bias" in human psychology & how that plays out in polls, especially if polls are conducted over the phone/in person.

Concept is similar to Adam Smith of the Theory of Moral Sentiment where u want to be liked b/c u're a social creature.
Because of this, they do the following to ADDRESS the issues of a "social desirability bias" & also outdated ways in which polls are conducted that puts off busy people & tends to get the extreme:

They do anonymous polls & tailor their questions to gauge sentiment.

Let's look.
Beyond simply asking voters whether they support Biden or Trump, USC asks a “social-circle” question—“Who do u think ur friends and neighbors will vote for?”—makes it easier for people to share their true opinions without fear of being judged for their views.

Surveys short too.
Finally, polls, beyond methodology issues discussed, DON'T take into account LOW-PROPENSITY voters for Trump (people that usually don't vote) & REPUBLICATION VOTER REGISTRATION.

There u go. Take that information however u may but at least u learn something about polling & bias.
Fine, some people asked me to do a poll, let's do it. Imma do their style & ask this:

WHO DO YOU THINK YOUR "FRIEND" & "NEIGHBOR" WILL VOTE FOR? 😉

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More from @Trinhnomics

30 Oct
Good morning! It's Friday, last night the US reported +33.1% QoQ SaaR growth from -31.4%. As we know this number is useless in the fact that Q2 & Q3 were unique in their seasonal sense & can't be extrapolated/annualized to think that Q3 will persist.

So? %YoY GDP rose -2.9%YoY
Taking into account the -9%YoY of Q2 & +0.3% of Q1 then we have an average three quarters growth of -3.9%YoY.

In other words, Q4 will determine whether the US will contract by only a small single digit or as consensus forecast of -4%.
Jobless claims are falling a bit (talking about stock of continuing claims & existing home sales pretty strong on a %YoY). That said, the question is how needy the economy of more stimulus (2nd fiscal package not passed) & whether states will suppress activities & dampen growth.
Read 6 tweets
29 Oct
Are polls biased? Here is the map from Fivethirtyeight that thought Hillary chance of winning was 66.9% in 2016 & I circled the states where the polls were wrong & that's 46 electoral votes that decided the 2016 election.
Today, @NateSilver538 gives Trump only 11% chance to win & Biden 88% chance to win according to his many simulations.
These are the states that Trump flipped in 2016 (Democrats in 2012 election) & that's six states & the Democrats DID NOT FLIP ANY.

What about 2020? They put Trump only 11% chance to win. Is it true?
Read 6 tweets
29 Oct
According to polls, here is what the electoral map looks like:

*Biden solid 259 so he needs to flip 11 to win so polls showing his hurdle to win much lower than Trump
*Obvs polls don't vote, people do so we'll find out if pollsters are doing a good job
*Trump has only solid 125
So for Trump, it's clear he needs to take ALL THE TOSS-UP esp Texas, Florida, Georgia & North Carolina.

He still needs to paint that map pretty red w/ Ohio & Pennsylvania being key (polls moving towards his direction).

Still, he needs to take either Arizona or the lake ones.
Here I assume he takes Arizona but it could be Michigan although polls aren't in his favor for Michigan.

Either way, I am very very excited in the coming days for polls/voting patterns.

May be a "sure" thing & hurdle is perceived to be "lower" for Biden, all based on polls.
Read 5 tweets
29 Oct
Asia recovery > Europe for the simple reason that here in Asia we are done w/ lock-downs (that was my call & I think a correct one). Look at India, Indonesia & the Philippines when they had high cases & suppression measures weren't intense because they simply cannot afford it.
India had a lock-down from 25 March to end of May & that resulted in a -24%YoY contraction of GDP.

Okay, but then what happened when it started easing? Cases SPIKED & deaths but it didn't continue w/ the lock-down b/c just simply barely afforded the 1st.

So? It lived w/ it.
So what happened to Covid-19 cases & deaths? Well, it rose in Q3 but then declined sharply in Q4.

And India achieved this without a lock-down. Meaning, the 1st lock-down kept cases down but delayed the spread anyway to Q3 & so w/o one, cases still fell.
Read 14 tweets
28 Oct
Firms move to Vietnam as a China labor cost arbitrage trade. Tariffs + another cost to the equation. Trump doesn’t care about textile moving from China to VN. He wanted access for American services (financials) & limit China rise in tech & vertical integration of value chain.
People write these stories all the time about how firms shifting to Vietnam is a failure of Trump policy. US wages are expensive. No way it’s competitive in labor intensive manufacturing. Americans in trade negotiations want champions to thrive & that’s high tech & services
I met Obama negotiators for TPP & basically US admin people. Same idea. TPP is all about market access as for the Americans they don’t want Asian style FTAs (tariff reduction only & non tariff barriers up) but US style & that means investment & that means US banks/services etc.
Read 9 tweets
28 Oct
Ready? Here we go: a comparison of the USA, Europe & the UK. New cases per millions. Look at that. Europe went from doing so well in the summer to massive explosion of cases.

US cases remained steady in comparison, still high. US suppression also not as severe & state dependent
How did Europe get here? Very simple, it had a pretty relaxing summer & judging from my friends going about holidaying w/o masks in groups basking in that beautiful Mediterrean sea while Americans bicker over masks etc, I knew, I knew this was coming & it's gonnna be explosive.
Btw, Europe had a much more severe lock-down that the US in Q2 2020. So that had social & economic costs while still plenty of lives lost anyway.

After the severe lock-down, it had a summer that was nice, sunny days, normalization etc.

Only to be here in Q4. Explosive cases.
Read 4 tweets

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