About Frank Moraes

Frank Moraes is a freelance writer and editor online and in print. He is educated as a scientist with a PhD in Atmospheric Physics. He has worked in climate science, remote sensing, throughout the computer industry, and as a college physics instructor. Find out more at About Frank Moraes.

Anniversary Post: Oscar Wilde’s Persecution

Please forgive me for recycling last year’s anniversary post. It took me a lot of work to do the transfer of my sister’s old blog to here. Plus, I think what happened to Oscar Wilde was outrageous. But then, what else is new? It reminds me of an article I wrote almost exactly three years ago, Michelle Obama and Downton Abbey. In that, I wrote, “It allows people of today to look down on people of a hundred years ago. Yet people today have prejudices that are every bit as pernicious; they simply have different prejudices.” So today we don’t lock up men for the crime of sodomy. And that’s good! But it still drives me crazy that millions of American lives have been destroyed and continue to be destroyed by laws that the man currently in the White House violated.

The Picture of Oscar WildeOn this day in 1895, Oscar Wilde was arrested for the crime of sodomy. It’s an outrage, of course. Just the same, Wilde brought it on himself. The Marquess of Queensberry left a note for Wilde at his club, which read, “For Oscar Wilde, posing sodomite.” So Wilde sued him for criminal libel. Of course, Wilde was a sodomite. And the Marquess had no trouble finding male prostitutes who would testify to that fact. So Wilde lost the case.

Immediately after that, a warrant was issued for Wilde’s arrest. He went to court and lost. He was given two years in prison, although the judge believed that the acts were so vile that they deserved far more than that. After serving the full sentence, Wilde went to France, where he should have gone long before. He died about three years later, his health having certainly been compromised by his time in prison.

Pretty much everyone today sees the treatment of Wilde as ridiculous. I think it is interesting, because drug users are treated exactly the same way today. And what is the difference? In both cases it is private behavior. But things have reversed over time. In 1895, opium use was generally considered a bad habit — much like tobacco is today. But homosexuality was seen as a grave threat to society. Today it is drug use that will destroy society. There is really nothing but bigotry behind both positions.

We mark this day as the start of the persecution of Oscar Wilde. The only thing that has changed is which people the UK government persecutes.

Conservatives Are Liars: Ends Justify Means

PinocchioLast week, Donald Trump announced that women who get (or try to get) abortions should be criminally charged. His campaign quickly walked back the claim. But Katha Pollitt made an excellent point about this in an article in The New York Times, Abortion and Punishment. Basically, she says, “Why not?” If conservatives really believe abortion of a zygote is murder — that a 2n diploid cell is a full human being with complete Constitutional rights — then shouldn’t any woman who attempts to get an abortion at least be guilty of attempted murder?

As Pollitt noted, the anti-choice movement gets around this problem by claiming that the women are victims. They don’t really want to get abortions, it is just all of us pro-choice advocates who push them into it. I would take this argument more seriously if these same anti-choice proponents were for a strong social welfare program. But in general, they want women to have no choice in when they have children and then to abandon them to a Dickensian life. But regardless of that, Pollitt said, “If you consider how determined a woman has to be to get an abortion in much of the country these days and how much energy states expend trying to dissuade her, it’s hard to see her as a frail flower.” Indeed.

So the anti-choice movement will use their “states’ rights” argument right up to the point that they get them. Once Alabama can outlaw abortion, the conservatives will turn on a dime and claim that states should have no right to allow women to have abortions.

But the truth of the matter is that the anti-choice people are just liars. What they want right now is to overturn Roe v Wade — either in the courts or through a Constitutional amendment. In other words, they want to allow the states to decide. But how does that make any sense? So abortion is murder in Alabama but not in California? The truth of the matter is that they don’t want to overturn Roe v Wade, they want the opposite of it; they want abortion to be considered murder everywhere.

It’s just like with the old (and still quite common) conservative complaint about liberal activist judges. Well, there pretty much are none of them. The activist judges are almost entirely conservative. But conservatives didn’t care about activist judges then and they don’t care about them now. They only care that the judges provide decisions that they agree with. And I’m not against that. I want the same thing! But I don’t go around claiming that I alone know what the Constitution means and therefore any decision I don’t like is the result of a conservative activist judge.

So the anti-choice movement will use their “states’ rights” argument right up to the point that they get them. Once Alabama can outlaw abortion, the conservatives will turn on a dime and claim that states should have no right to allow women to have abortions. This is the kind of thing that drives me crazy about conservatives: there is no consistency. The ends always justify the means. When it came to same sex marriage, they thought it shouldn’t be up to the states and we got the Defense of Marriage Act. But when it is about abortion, it is just the opposite — for right now.

As for me: I’m a federalist. One of the biggest problems with Scalia’s death is that it can end up with different federal law in different areas of the country. It has the potential to turn us into a confederacy. And we’ve tried that and it failed. When people talk about states’ rights and when libertarians claim that local control is always better, what they are really saying is that they want their own little preferred laws — usually really vile ones. My friends, the conservatives represent the most unpatriotic movement we have in this country.

Morning Music: Louis Armstrong

Louis ArmstrongAs we continue on with songs that I’ve used fragments of in my videos, we come to Louis Armstrong’s version of “What a Wonderful World.” When I was younger, I loved the song. Now it kind of makes me sad. I do love his voice and there are times that I quite agree with the lyrics of the song. The world is wonderful in many ways and we need to remember that and be grateful.

Just the same, I don’t like the fact that even for people my age, Louis Armstrong is only “What a Wonderful World” and “Hello, Dolly!” Armstrong was, in fact, one of the most important figures in the development of jazz. I understand: that New Orleans jazz music can sound dated. But try to listen to it fresh. It sounds amazingly modern. And when they go crazy, you hear counterpoint that you won’t hear on Top 40 radio.

Louis Armstrong and His Hot Five

I want to highlight Louis Armstrong and His Hot Five. The band consisted of Kid Ory on trombone, Johnny Dodds on clarinet, Johnny St Cyr on guitar/banjo, Lil Hardin Armstrong (Louis Armstong’s wife at the time) on piano. All of them are legends in their own right. One thing that comes across really well in all those Hot Five recordings is that it is a collaboration. Sure, Louis Armstrong is the star, but they are making music together that is incredibly pleasing, and so much more interesting than most popular music that came before.

There’s a curious structure to the arrangements too. The piano and the banjo work as a team, but interestingly, mostly it is the banjo that holds things down. Lil Armstrong gets to play a lot around what St Cyr is doing. Similarly, the horn players act as a unit. It’s lovely to listen to. Here’s Lil Armstrong’s song “Droppin’ Shucks.”

Anniversary Post: First Presidential Veto

George Washington VetoOn this day in 1792, President George Washington issued the first veto in the history of the United States. And it’s a curious law. It had to do with how many voters were represented by each member in the House of Representatives. Congress was trying to figure out how to give out representatives, given that, you couldn’t just take the Constitution’s number of 30,000 (or more) per Representative given that none of the states had populations that were equally divisible by that number.

What they ended up with was a system that ended up giving northern states more seats in the House. And this was already a touchy issue because the south didn’t have many citizens in it because it remained agrarian with a large percentage of its population labeled as property rather than human. This brings to mind the 3/5ths compromise. If slaves really were property, there was absolutely no justification for giving the southern states any representation based on their slaves. But then, isn’t that just like conservatives: whatever is convenient to get their way.

Congress did finally work out a deal that the president signed, Apportionment Act of 1792. In fact, it was just 5 days after the veto. It’s interesting that the rest of life has gotten astonishingly faster, but Congress has gotten astonishingly slower over the last two centuries.

What I find interesting about it all is how now this problem of apportionment works to help the slave red states. For example, Wyoming gets one Representative. In 2014, it had a population of 584,000 people. The same year, my home state of California had a population of 38.8 million. We have 53 Representatives. So: we have one Representative for every 732,000 people. That means that each person in Wyoming gets 25% more representation in the House than each person in California. And don’t even get me started on the Senate. (Fun fact: it’s a 65-to-1 ratio.)

Now one could say that Washington made his historic veto because he was trying to protect his fellow vile slaveholders. But I suspect that it was actually the same issue that would be dealt with by every president through Lincoln: dancing around the south’s peculiar institution and not wanting to set them off. Have you noticed that most conservatives try to claim that the Union started the Civil War? The truth is that from the ratification of the Constitution, the south was itching for a way out. They knew their days were numbered. But oh, all the suffering that went on in the mean time.

But hey: first veto.

Old Fashioned and Repressed Sex

Old FashionedBrandon Ambrosino over at Vox tried to get to the bottom of an interesting question, Why Are Christian Movies So Painfully Bad? But I think he made it over complicated. The reason that “Christian” movies are bad is that they are made for a particular distribution channel — one that depends upon churches. So part of the reason that these “Christian” movies are bad is the same reason that most of the drive-in movies of the 1950s were bad. The other is that the people who go to see these films just want to be assured that they are the right kind of people.

One great film that is explicitly Christian is John Michael McDonagh’s Calvary. But the point of the film is not to sell Christianity to people who have already bought it. And, in fact, you see lots of Catholicism in Irish films. But the religion is not the point; it is just part of the lives of the people. It isn’t surprising that that there is a Christian Film Industry in the United States. American Christians are the most insecure religious people I’ve ever see. This is why they get so upset about “Happy Holidays,” because they need constant assurance that everyone believes the same thing they do.

And then there is the Amway aspect of it. I’ve been talking to Jehovah’s Witnesses for decades. They are the most fake people one on the planet. I know all their tricks. And they are the exact same tricks of Amway salesmen or car dealers. They try to find out what you are interested in so they can form a bond, and then they go in with their high pressure sales pitch. In the end, it is all about selling their very specific form of Christianity to you. They have no interest in you at all. They are just “fishers of men.”

But I was really struck by Ambrosino’s prime example, a new Christian Film Industry monstrosity, Old Fashioned. It is supposed to be a response to Fifty Shades of Grey. In this new film, a young man who “Jesus found” during his senior year of college now has very old fashioned ideas about courtship. And he finds himself attracted to the nubile and feisty Elizabeth Ann Roberts. And I’m sure they work through their problems and have a good old fashioned courtship and, just like in every secular romance, it ends where the actual hard work of the relationship starts.

But check out this trailer. Really. I want to talk about it:

I find the trailer of Old Fashioned kind of sexy with all the “I’m an inch away from your face” and “I’m shoving roasted marshmallows in your face.” So really, it’s a movie that is all about sex. It’s just one with sexual mores that are based some kind of Victorian notion of sexual propriety. The thing you find if you read about the distant past — of Christians in the distant past — is that these ideas about sex were never real. They were always about power and contracts. There’s nothing religious about them.

But as usual with repressed Christians, the sex is just bursting at the seams. And I find it ironic. I’m a sexual liberal. I think it is great that people have sex whenever they want how ever they want. If people copulate in the streets, I wouldn’t care. But sex just isn’t that big a deal to me and if you doubt me, you can ask my two ex-wives. But for people like writer, director, and star of Old Fashioned, Rik Swartzwelder, sex is apparently very important — so important he has to make a whole film about it. He is, in fact, just the same as the makers of Fifty Shades of Grey. And I don’t imagine him that different from Osama bin Laden with all his pornography.

Religion makes people very creepy when it comes to sex. It’s like conservatives when it comes to policy: they start every discussion of fixing a problem with everything they can’t do. And that’s a recipe for disaster. The world is about possibilities, not arbitrary limits. And the young man in Old Fashioned is not even practicing his faith; he’s just another cultural Christian with major sexual hangups.

Morning Music: What a Wonderful World

Joey Ramone - What a Wonderful WorldToday, we listen to Joey Ramone’s version of “What A Wonderful World.” The reason is because I’m thinking of trying to make some videos. I had been working on this thing called “Good, Bad, and Uglies.” But it got overly complex. The big issue is that I can write the material, but I can’t really act it — at least not without a lot of work that I don’t have time for. In addition, I have a strong tendency to make little projects turn big. For example, the first screenplay I ever wrote was supposed to be a little 2 minute joke, but within a month it was two hours long. So my video dreams all got set aside.

But last night I was Skyping with my boss and we mentioned the GIF image format and I went on a tear. I noted that everyone pronounced it with a “ga” and not a “ja.” But then GIF inventor Steve Wilhite came out and said that he always pronounced it “jif.” Well, that made absolutely no sense, because GIF is an acronym for Graphics Interchange Format, and unless Wilhite pronounces “graphics” as “jraphics,” he’s a complete loon. (Note: “giraffics” would be a wonderful word for images of giraffes.)

And then I mentioned “Linux,” which was always pronounced with a hard I. But then Linus Torvalds came out with a sound file with his Finnish accent and everyone thought, “Oh! It should be pronounced with a soft I!” But that wasn’t even true because the way he actually said it was “leenux.” Does anyone call it that? No! Should anyone call it that? Yes! People who speak Finnish should say it like that. But everyone in the English speaking world pronounces his first name “Linus” just like the Peanuts character. And that means that “Linux” should be pronounced with a hard I. But we don’t do that because people are just stupid.

I said all that in about 20 seconds. And I thought: I could just set up a camera and rant into it for hours on end about everything that I think is wrong in the universe. And then I could cut out little 20 second clips when I’m particularly “on.” Anyway, I generally started all the “Good, Bad, and Uglies” with Joey Ramone’s version of “What a Wonderful World” and then ended with the Louis Armstrong version. You can see what I mean in my video, These Are Not Very Bright Guys. Anyway, here’s the whole song:

Anniversary Post: Microsoft Starts to Suck

MicrosoftOn this day in 1975, Microsoft was formed by two computer mediocrities Paul Allen and Bill Gates. Thanks to them, the personal computer was held back for years. But they were successful as a company because they were ruthless. But let’s remember what these guys did. They wrote a BASIC interpreter in Intel 8080 assembly language. And I know that sounds impressive. But let me set you straight.

When I was in graduate school, I wrote my own text editor in 8086 assembly language. It didn’t take that long. And it was really fun to do. A BASIC interpreter is more work, but it isn’t that big a deal. But here’s the thing: I did that on my own, in addition to, you know, taking classes and trying to figure out how permafrost worked. But I had never taken a computer programming class. I didn’t and do not (despite having created huge and amazing software creations) think of myself as a computer programmer.

So I just don’t think much of people like Allen and Gates — or for that matter, Steve Wozniak, although being more of a hardware guy I give him some credit. And you know you don’t want to get me started on Steve Jobs. But the truth is that even most people who consider themselves technically minded get fooled about this kind of stuff. So what follows is the truth.

There are lots of brilliant programmers and computer scientists around and there have been since the 1950s. Even I could have been one if I had been so inclined (but I’m not ever interested in anything for that long). So the people who we hold up as masters of technology are almost always just technically oriented people who got rich. And that’s exclusively about ruthlessness and luck.

So what would have happened if Bill Gates and Paul Allen had never been born and there had not been a Microsoft? Well, IBM would have hired someone else to provide the operating system for their personal computer. (Note that I said “provide” given that Microsoft wrote almost none of it.) Would things have been better or worse? We can’t say, but I assume better, because I really think Microsoft held things back. Then again, maybe Apple would have been more successful and that would have been a similar catastrophe.

Remembering Ronnie Corbett

Ronnie CorbettI just found out that Ronnie Corbett died. He was 85 years old, so it isn’t a big surprise. I know him from some movies, most notably one of my favorite undervalued films, Fierce Creatures. Before I go on, let me just say that people ignore this movie because it wasn’t A Fish Called Wanda. But it is wonderful. And the reason it is so wonderful is because its filled with so many great characters, like Corbett.

Here is a brief scene from it. Corbett is at the beginning and the end of it. The idea is that a Rupert Murdoch like character has purchased this little zoo so John Cleese is put in charge of making it profitable. He wants to make the zoo “dangerous” and so get rid of all the nice animals like the anteater. So the staff stage a bunch of fake accidents to get him to keep the animals. Eventually, he falls in love with the animals and the zoo. It’s totally my kind of movie: silly but extremely sweet.

Mostly, I know Ronnie Corbett from the sketch comedy show The Two Ronnies. But it wasn’t the show so much. It was that every episode had an “armchair monologue” where he would tell a joke. But the joke didn’t matter. It was just an excuse for him to be amazingly funny getting around to telling the joke. In this case, it is the parrot joke, which is one of those great jokes you can tell your grandmother.

But most of the lead up to the joke is about Ronnie Corbett’s wife. Why? Who knows?! That’s what’s so great about these bits. But it is interesting to noted that they married 30 May 1966, which means that they were just about to celebrate their 50th wedding anniversary. Corbett was diagnosed with ALS just one year ago today, and he died, as is appropriate, surrounded by his family.

Death is not such a bad thing. But it is sad when a great person like Ronnie Corbett is taken from us.

What Are Republican Reformers, Anyway?

Ross DouthatPaul Krugman wrote an interesting blog post, The Pathos of Republican Reformers. It starts, “Ross Douthat has a wonderfully written, heartfelt takedown of the WSJ editorial page, which is — surprise! — dead set against any deviation from the tax-cuts-for-the-rich agenda.” But Krugman goes on to wonder about the naivete of these supposed reformers; did they “really think there was any chance that their ideas would achieve headway within the party?” Well, I’m not quite so sympathetic toward these people — especially Ross Douthat.

Douthat is a Catholic and that seems to be why he is a conservative. I refer to him as “God’s older brother.” The truth is that Catholics don’t have to be conservatives. Just look at Garry Wills. The issue for Christians is always what you are going to focus on. Douthat focuses on homosexuality and abortion. He cares about feeding the poor and so on, but not enough to turn against a party that is totally at odds with that. And that’s true of all of the reformish conservatives. They all have their little issues with the Republican Party, but they all buy into the basic idea that the rich deserve everything and the government should be set up to facilitate that.

It’s very simple. The Republican Party is so broken — it has nothing to offer to the nation — that it needs these apologists who claim to be reformers.

But as Krugman says in other words: what the hell is the Republican Party all about anyway? So I think all these Republican reformers are frauds. Even Josh Barro. Of all the Republican reformers, he’s the only one (along with Bruce Bartlett — who has similar problems) that even pretends to take reform seriously. The rest just want to make the Republican Party seem better. But look at how Barro provided cover for Chris Christie’s fiasco on the Hudson River tunnel.

We got into a small public fight about it. He claimed that Christie was against the tunnel because it was too expensive. I noted that this was what politicians always said when they wanted to kill something for other reasons. No politician ever says, “I want to kill this needed infrastructure project because I want to give the money away to my rich friends.” This is political science 101. See the book Winner-Take-All Politics if you have any questions. But Barro claimed I was dumb because as a liberal, I just wanted to spend money without worrying about efficiency. Then a year later, it came out that Chris Christie did in fact kill the tunnel so he could cut taxes and that he would never have allowed the tunnel — a decision that will cost the state of New Jersey billions of extra dollars over the coming years.

Think about things from the other side. I have a lot of problems with the Democratic Party. I’m highly critical of it and I’m very open about the fact that in a parliamentary system, I would not be a Democrat. Yet I don’t put on airs that I’m a Democratic Party reformer. And no one in the Democratic Party does that. The reason is simple: everyone in every political party has problems with it. There are always things that they don’t agree with. So what’s the big deal about Republican reformers?

It’s very simple. The Republican Party is so broken — it has nothing to offer to the nation — that it needs these apologists who claim to be reformers. And the reason for this is because our media is not willing to tell the truth. So they have to pretend that there are people in the Republican Party trying to turn it into something that a reasonable and informed person could support. But none of these guys actually care about reforming what is wrong with the party. David Frum wants gun control, but keep those tax cuts for the rich and foreign wars coming! And Ross Douthat might care about the poor, but not enough to give up on the party that panders to what he really cares about: homosexuality and abortion.

Morning Music: Mason Jennings and Kevin Kling

Mason JenningsI like to end these weeks with a live performance. But I find that there really isn’t anything for Mason Jennings. There is, however, this astounding performance that he did with storyteller Kevin Kling. Kling really is amazing. I suspect I’ve heard him before. He’s really quite amazing. And the two of them make a great team.

I don’t have much to say. This is the kind of entertainment that I enjoy. I would pay to go and see these guys. Most live entertainment bugs me. I’ve watched as theater has gotten bigger and bigger and more and more like film. But my favorite things when I was a kid were things like Will Rogers’ USA and Mark Twain Tonight — one man shows. I find it far easier to get absorbed in someone telling me a story than I do in having the story rendered to me. And in movies, most of the time so much is going on you can’t catch it all anyway.

This is nice because it presents a great storyteller and a great songwriter. When I’m at a rock concert, I’m almost always overwhelmed with how fake it is. The pretense overwhelms everything else. I guess I’m supposed to think that the performers are cool and so I am too because I can see it. But what I feel is alone — like I’m surrounded by lost and confused people who are pretending to have a good time. I know that says much about me and nothing about them. I have no real idea what they are thinking and feeling. But that’s how the experience feels to me.

On the other hand, this concert with Mason Jennings and Kevin Kling is something that I connect with. It speaks to my life and I find moments of truth in it. I highly recommend watching it all.

Anniversary Post: Apple iPad

Apple SucksOn this day in 2010, the first iPad was released. It was an extremely big deal because like every Apple product ever, it didn’t do anything new. It was what all their products are: a well packaged implementation of other people’s work. But it had the secret sauce that all their products have: a really big legal department that sues every other company that builds on the same technology that Apple has been stealing for years.

It is not, as many people seem to think, that I have it out for them and that I love Microsoft. First, I don’t like Microsoft at all. But more to the point, I don’t care about devices. If I can get work done on it, fine. That’s all that matters to me. Give me a computer with OS X or Windows or Linux: I don’t care. I can get my work done on them. With things like tablets and phones, I can get work done, but it is harder because they aren’t built for work; they’re built for entertainment.

What I Hate About Apple

But what I do hate about Apple is how it tries to win through the courts. As I said: it never innovated anything. At least Microsoft did a couple of things worth note. So for Apple, it’s all about using the legal system to gain advantage. Consider Apple Inc v Samsung Electronics Co. I thought that whole clusterf@#k was typical of what was wrong with Apple and America. In South Korea, Japan, and the United Kingdom, Apple was laughed out of court. But the litigious bastards won in the United States because as the saying goes, “The business of America is business.” And what that means is that we don’t care about innovating and creating stuff. We just care about allowing companies to trick their way to profitability.

If you like Apple products: fine! I don’t care. I still do most of my work with the vi editor, initially released in 1976. It’s not the best editor, but I’ve been using it so long that it is natural. And I can create keyboard mappings that do amazing things. I know that Emacs can do a lot more, but I’ll bet I can still do things faster in vi than 99% of Emacs users. So it’s fine to like one tool more than another. But don’t kid yourself: Apple is one of the most evil companies in the world.

Yellen Is Making Sense; Financial Journalists Aren’t

Janet YellenI follow Tim Duy’s Fed Watch, but not carefully. When I say that economics makes my brain hurt, it is this kind of stuff that I’m talking about. I don’t think that most people give much thought to things like “money.” If you do, you will find yourself getting confused and anxious. Money really is just a shared delusion. So when you start talking about money supply and inflation, well, your brain starts boiling and you fear you may explode.

Most people I talk to think inflation works in a simple way. There is a certain amount of cash in the economy. If the government prints more of the money, it will be worth less. This is not how money works at all. But sadly, I cannot tell you how money does work. And sadder still is the fact that no one I’ve ever read has been able to make me understand how money works. It’s like black magic. And the witches and warlocks stirring their cauldron of bubbling brew are the members of the Federal Reserve.

But just because I don’t know what money is, doesn’t mean that I don’t know what those witches and warlocks are doing. But I often wonder what they think they are doing. On 16 December 2015, the Fed raised its target funds rate. But why? We know that raising interest rates will cause the economy to cool down. If inflation is rising, raising interest rates will stop it. This is one thing we know without peering into the bubbling cauldron.

Lael BrainardBut was there any sign of inflation? No. In fact, inflation has stayed stubbornly below the Fed’s target rate (which is itself far too low) of 2%. But the argument was that inflation could take off. Just yesterday, Heather Long at CNN reported, Has the Federal Reserve Messed Up? But if inflation takes off, the Fed can just raise interest rates — and fast. So what’s the big deal?

On the other of hand, there is the chance that raising interest rates too soon could throw the economy back into recession. And then what would the Fed do? Are there any raven’s feet to drop in the cauldron that would fix the problem? No! The Fed would have no tools whatsoever to fight the recession. We would have to depend upon fiscal policy, which means Congress, which means that nothing would be done.

But Long’s point is that if the Fed can just get interest rates high enough, then they will be able to lower them in case a recession comes along. This is the kind of logic that only idiots in the finance world could think makes sense. It’s like eating poison everyday so you have the option of not eating it when you get sick. But then, as a Rhodes Scholar with a master’s degree from Oxford, I have a feeling that she doesn’t spend much time with people who aren’t in the top 10% of income earners — other than the barista who makes her $5 Salted Caramel Mocha Frappuccino.

So with Heather Long and the rest of the class that never has to worry about losing their jobs talking such nonsense, I was happy to see that Tim Duy was making a more reasonable argument, Yellen Pivots Toward Saving Her Legacy. In particular, he focused on Fed Chair Janet Yellen’s recognition of the extremely asymmetric risks that the economy faces.

It’s really simple. On the one side, you have a small risk of rising inflation that the Fed has more than enough tools to deal with. On the other side, you have what I think is a rather greater risk of recession that the Fed has absolutely no tools to deal with. But I know: Heather Long and the rest of the business “journalists” want to raise rates so the Fed can have tools to deal with a recession. But there is no sense of the risk of gaining those tools. Duy was right when he wrote, “The incoming data suggests that means the economy needs to run hotter for longer if the Fed wants to leave the zero bound behind. Yellen is getting that message.”

So I’m glad that Yellen and (a personal hero) Lael Brainard and others on the Federal Reserve Board are casting their spells for the good of the economy and not the bankers and their mindless “journalist” apologists.