Tag Archives: fashion-victims

Friday Cat Blogging – 24 July 2015

Mother Jones

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Hopper and Hilbert like to (a) play-wrestle with each other, and (b) jump up on the fireplace mantel. Here they are doing both. Hopper has lately been taking control of these affairs, finally realizing that she’s the real alpha cat in the household even if her brother is bigger. As she’s finally figured out, being alpha is more about will and energy than about size, and she’s got both. Nonetheless, you can see in this picture about how seriously she takes it.

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Friday Cat Blogging – 24 July 2015

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Low Inflation Continues to Disappoint Inflation Hawks

Mother Jones

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Perhaps you’ve read that inflation is up recently. Last night, for example, NBC News breathlessly told me that the price of eggs had gone up 13 cents over the past year. Does this mean that the inflation worries we’ve been hearing about continuously for the past four years are finally coming true?

I’d be happy if they were, since I think higher inflation would do the economy some good. Sadly, though, inflation remains well anchored. Despite the higher numbers of the past two months, the Fed’s latest projections have increased by….one tenth of a percentage point. Or, if you take the average of their range, by one twentieth of a percentage point, from 1.55 percent to 1.6 percent.

And how about 2015? They’re projecting 1.75 percent. And 2016? A whopping 1.8 percent. In other words, they believe that we’ll continue to undershoot our inflation target for at least the next three years.

At the same time, their projection of GDP growth has plummeted from 2.9 percent to 2.2 percent. And their projections for 2015 and 2016 continue to hover around an anemic 3 percent.

So: we have low growth, low price inflation, low wage inflation, and unemployment is still high. This is really not an environment in which spending cuts and lower deficits are the answer. More here from Mark Thoma.

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Low Inflation Continues to Disappoint Inflation Hawks

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Chart of the Day: There’s Still No Wage Pressure in the US Economy

Mother Jones

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This is just a reminder from Jared Bernstein, who analyzed five different measures of wage growth to produce the chart below. Ever since the end of the Great Recession, wage growth has been under 2 percent. It’s still under 2 percent, and shows no signs of increasing. This is yet another indication that the recovery is weak, the labor market has a lot of slack, and there’s no inflation in sight.

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Chart of the Day: There’s Still No Wage Pressure in the US Economy

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Missing the Point With Statistics

Mother Jones

I just caught a few minutes of the Brazil-Croatia World Cup opener (“patient possession football” said the announcer, which apparently means kinda slow and humdrum), and before I knew it, it was halftime. So I switched over to CNN to see if anything was going on, and caught a pretty good example of how to miss the point with statistics. The chart at issue is on the right. According to James Alan Fox of Northeastern University, mass shootings aren’t on the rise, even though it might seem that they are. But there’s something missing from this analysis, and regular readers who know my hobbyhorses should be able to guess what it is.

Is it the fact that the yellow line does, in fact, seem to be rising steadily? No. An eyeball analysis suggests that it is, but it’s not a big rise, and anyway, it’s probably accounted for by population growth.

Nope, it’s this: Since 1993, the rate of violent crime in America has plummeted by half. That’s the background to measure this against. In general, America has become a much safer, much less lethal place, and yet mass shootings have remained steady. Compared to the background rate of violent crime, mass shootings have doubled. Why?

And here’s an equally interesting question: between 1976 and 1993, violent crime increased by a significant amount, but mass shootings remained steady. Again, why?

Raw numbers are a starting point, but they don’t tell the whole story. If Americans, on average, are considerably less violent than they were 20 years ago, shouldn’t mass shootings be down? The answer presumably, is that mass shootings are actually up when you measure them correctly, or else that mass shootings have nothing to do with violent tendencies in general. My guess is the latter, and it would be genuinely interesting to hear from experts about why this is.

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Missing the Point With Statistics

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