I don’t understand the Federal Reserve. For at least the last year, economists everywhere have been wondering if the Fed is going to raise interest rates. You see, there are many people who are concerned about inflation. And they think that the Fed’s “easy money” policy is going to cause inflation. Now, most of these people are the kind who have been hiding double eagle gold coins under their floorboards ever since Obama was elected president. But the people at the Fed — who seem to be smart and reasonable people — go along with this kind of thing. And it makes no sense.
Let’s assume that inflation in the United States really got out of control and shot up to 5%. There are a couple of things about that. First, a 5% inflation rate for a year or two might actually be good for the economy. But if the people at the Fed didn’t accept this, they could bring that inflation down quite fast by raising interest rates. The only reason there is so much concern about inflation is that it might take a few months to get back down, and that money that the rich would be losing! Can’t have that. What we can, however, have is millions of extra people out of work, because they just don’t matter.
The Federal Reserve’s inflation target is 2%. That means that it should be around 2% — sometimes above and sometimes below. Wanna know what it has been for the first six months of this year: -0.1%, 0.0%, -0.1%, -0.2%, 0.0%, 0.1%, and 0.2%. So the inflation rate for the first half of 2015 is -0.02%. That is far below the Fed’s target. People should be screaming about the inflation rate being too low because it discourages purchases and keeps the dollar too strong against other currencies, thus making our exports less competitive. Some people are concerned about that. But mostly, the concern is that the we are going to turn into Zimbabwe with hyperinflation!
Mark Thoma — a great economist who is not prone to hyperbole — has an idea as to why the Fed might raise interest rates even though it is clearly the wrong thing to do, As Stocks Lurch, Fed Ponders Twist of the Dial. As I’ve said, I’d be very happy if inflation went up — even as high as 5%, although 3% to 4% would be better. But if inflation does go up — even to the supposed proper rate of 2% — the power elite of this country will scream and blame the Federal Reserve. On the other hand, if the Fed raises rates and millions of people lose their jobs, well, that isn’t necessarily the Fed’s fault. There are a lot of reasons that the economy fluctuates.
Do you get that? We may see the Federal Reserve raise interest rates. This will have the effect of putting many people out of work and lowering the wages of many more. And this will all be done because the people on the Federal Reserve are cowards. Of course, the Very Serious people — people like William Saletan — will applaud them and claim that they are being “brave.” That’s because there is nothing more brave to the power elite and their apologists than to make the weak suffer.

On this date the British Empire abolished slavery with the
This graph comes via Kevin Drum,
For years, in response to political pressure, the Centers for Disease Control have been effectively prohibited from researching gun violence as a public health and safety issue unto itself. Two months ago, in the immediate aftermath of the Emanuel AME church massacre in Charleston, South Carolina, when a powerful House panel torpedoed a piece of legislation that would’ve permitted the Centers for Disease Control to study the root causes of gun violence, House Speaker John Boehner defended this sort of interference.
At The New York Times, Frank Bruni was scratching his head, 
On this day in 1886, the great violist and composer
So it seems that
I only mean to compare these numbers because people get so freaked out about terrorism while we can’t talk about gun violence in a general sense. If this attack in Virginia had been about Islamic terrorism, we would get nonstop coverage of how we must do something about the terrorists and how the Iran nuclear deal is to blame and all kinds of other nonsense. On the other hand, if it had been right-wing terrorism, we would be hearing about how terrible it is that there are still pockets of racism in our country — and that it wasn’t terrorism. But as it is, this will just be about a disgruntled employee or a mentally unstable man. One thing it will not be about is guns, because after all, he could have used a knife or a pipe bomb.
It is true that Sanger was a proponent of eugenics, and pro-choice advocates do themselves no favors by attempting to whitewash this fact and paint Sanger as some infallible feminist hero. Sanger was passionate about contraception — perhaps to a fault — and her fervor about promoting her birth control agenda led her to align herself with eugenicists, along with racists and an assortment of people of questionable character.
Not surprisingly, Jonathan Chait wrote a big article swatting at the teachers unions,
In addition, there’s this, “A key part of the New Orleans narrative is that firing the unionized, mostly black teachers after Katrina cleared the way for young, idealistic (mostly white) educators who are willing to work 12- to 14-hour days.” There are a couple of things to think about here. First, this is the modern corporate world’s approach to cutting costs: get rid of experienced middle aged workers who cost more and replace them with inexperienced young workers who cost less. But if they are willing to work 14-hour days, isn’t that a good thing? No, it isn’t. First, we shouldn’t expect that of any workers. But more important is that as those young teachers get older, they will not be willing to kill themselves for the job. Now it may be that the schools will just replace them with a new round of young inexperienced teachers who will work 14-hour days. But this brings up a related issue: teacher shortages.