This is also bullshit! If you do statistics right, at a granular enough level, and find the underlying factors (which means spending time to do it) the links become almost causal.
Aggregate statistics are segment-able and they are usually segmented into other aggregate statistics (dependent variables). There are many layers of these before you get to the root causes.
Plus, the economic position is well know. Indeed, we are living through an experiential period which is about to demonstrate this to us over the next several years, or decades.