A Myth for Fools and Children

June 29, 2024 Mark DavisLeave a comment

Like the Overton Window, the Economic Expectations Window is the range of acceptable ideas about economics. Here’s my answer to the question of what I would do about inflation if I had been debating with Trump and Biden:

Folks, these two clowns (and one is more clownish than the other…you be the judge) are not divulging the truth about inflation. Here it is: the best guess by economists about our recent spat of inflation is that it was caused by two factors. First, consumer patterns shifted during COVID and that put demand stress on certain areas of the economy. Money chased after home offices and accessory dwelling units, and it stopped flowing to travel and tourism and eating out. Second, the payments and benefits to people—payments that were needed to head off greater suffering and possibly an economic depression—enhanced the effect. You had more money and lots of time on your hands.

There is no Biden or Trump economy. It’s a myth for fools and children, at least insofar as neither of them does anything dumbly radical (ahem, crazy tariffs).

The primary tool our government uses to manage inflation is the independent Federal Reserve changing certain government interest rates and attempting to slow spending. They have a hard task—a difficult balance—because they don’t want to force the economy into a recession. Raised interest rates ripple out and also impact the affordability of homes and cars. But the president doesn’t control how the Fed sets interest rates. They are independent and for good cause: to avoid creating an economic mess for political reasons like juicing the economy before an election.

There is one other tool that presidents do have a hand in, however, and that is taxes and spending by the government.

… Read the rest

Notes on Pumps: Sensibilities and Framing with Algorithmic Feedback

July 22, 2022 Mark DavisLeave a comment

“A sensibility is one of the hardest things to talk about.” So begins Sontag’s Notes on “Camp” in the 1964 Partisan Review. And what of the political anger and disillusionment across the United States and in the developed world? What of the gnawing desire towards superiority and control that accompanies authoritarian urges? What of the fear of loss of power to minority ethnic and religious groups? These may be the most discussed sociopolitical aspects of our modern political sensibility since Trump’s election in 2016 when a bitter, vindictive, hostile, crude, fat thug briefly took the reigns of America, then pushed and conspired to oppose the election of his successor.

What attracted his followers to him? I never encountered a George W. Bush fanatic during his presidency. Though not physically small, he talked about “compassionate conservatism” with a voice that hung in the upper register of middle pitches for men. He was neither sonorous nor mean. His eyebrows often had a look of surprise and self-doubt that was hinted at in claims he was a very reluctant candidate for president. I met people who voted for him but they seemed to accept him as an acceptable alternative to Gore or, later, to Kerry—not as a figure of passionate intrigue. Bush Jr. did receive a rally-around-the-flag effect that was based on circumstances that would later bring rebuke over the casus belli of the Iraq War. Similar sensibilities were true of the Obama years—there was a low positivity for him on the Left combined with a mildly deranged antagonism towards him on the Right.

Was the lack of Trump-like animating fanaticism due to the feeling that Bush Jr. was a compromise made to the electorate while Trump was, finally, a man who expressed the real hostility of those who vote Republican?… Read the rest

Measuring Belief and Quackery

August 29, 2020August 29, 2020 Mark Davis1 Comment

While reviewing reporting on the RNC this afternoon, I found myself curious about the protocols at news organizations with respect to their editorial boards. For instance, does the Washington Post editorial board require that claimed facts within all opinion pieces are not clearly disputed? Does the New York Times? I suspect yes, which is what we see in the lawsuit filed by Sarah Palin against the New York Times concerning the suggestion that Palin’s campaign was relevant to the shooting of Gabby Giffords. There was at least a debate that rose to the level of the Opinion Editor, if not the board.

I was investigating this because I am curious how WaPo handles Trumpy columnists like Mark Thiessen and Hugh Hewitt, who are mostly cheerleaders without baggage for the current president, with only occasional whataboutisms and other distracting suggestions about Biden’s candidacy. They don’t defend lies and cons. They just cheer. Meanwhile, the board itself came down hard on the repeated falsehoods of Pamela Bondi and the ongoing slaughter of truth in the service of the Trump 2020 campaign.

The mainstream press represents Trump and cronies as conmen and women, manipulative, self-serving, corrupt, cruel, ignorant, ineffectual, morally questionable, and out-and-out liars. And the press uses facts to do so. Yet Trump maintains a remarkable following despite this evidence, with many quizzical onlookers at a loss as to the psychology of Trump’s followers.

In this modern example, there are many, many resources that can be used to fact check and form opinions. Yet people choose to rely on only a few and discount others as being biased.

I was recently reading some fairly detailed Bayesian analysis by philosophers concerning Hume’s argument against miracles.… Read the rest

Traitorous Reason, Facts, and Analysis

November 19, 2016November 19, 2016 Mark DavisLeave a comment

Obama’s post-election press conference was notable for its continued demonstration of adult discourse and values. Especially notable:

This office is bigger than any one person and that’s why ensuring a smooth transition is so important. It’s not something that the constitution explicitly requires but it is one of those norms that are vital to a functioning democracy, similar to norms of civility and tolerance and a commitment to reason and facts and analysis.

But ideology in American politics (and elsewhere) has the traitorous habit of undermining every one of those norms. It always begins with undermining the facts in pursuit of manipulation. Just before the election, the wizardly Aron Ra took to YouTube to review VP-elect Mike Pence’s bizarre grandstanding in Congress in 2002:

And just today, Trump lashed out at the cast of Hamilton for lecturing Mike Pence on his anti-LGBTQ stands, also related to ideology and belief, at the end of a show.

Astonishing as this seems, we live in an imperfect world being drawn very slowly away from tribal and xenophobic tendencies, and in fits and starts. My wife received a copy of letter from now-deceased family that contained an editorial from the Shreveport Journal in the 1960s that (with its embedded The Worker editorial review) simultaneously attacked segregationist violence, the rhetoric of Alabama governor George Wallace, claimed that communists were influencing John F. Kennedy and the civil rights movement, demanded the jailing of communists, and suggested the federal government should take over Alabama:

The accompanying letter was also concerned over the fate of children raised as Unitarians, amazingly enough, and how they could possibly be moral people. It then concluded with a recommendation to vote for Goldwater.… Read the rest

Euhemerus and the Bullshit Artist

August 12, 2016 Mark DavisLeave a comment

Sailing down through the Middle East, past the monuments of Egypt and the wild African coast, and then on into the Indian Ocean, past Arabia Felix, Euhemerus came upon an island. Maybe he came upon it. Maybe he sailed. He was perhaps—yes, perhaps; who can say?—sailing for Cassander in deconstructing the memory of Alexander the Great. And that island, Panchaea, held a temple of Zeus with a written history of the deeds of men who became the Greek gods.

They were elevated, they became fixed in the freckled amber of ancient history, their deeds escalated into myths and legends. And, likewise, the ancient tribes of the Levant brought their El and Yah-Wah, and Asherah and Baal, and then the Zoroastrians influenced the diaspora in refuge in Babylon, until they returned and had found dualism, elemental good and evil, and then reimagined their origins pantheon down through monolatry and into monotheism. These great men and women were reimagined into something transcendent and, ultimately, barely understandable.

Even the rational Yankee in Twain’s Connecticut Yankee in King Arthur’s Court realizes almost immediately why he would soon rule over the medieval world as he is declared a wild dragon when presented to the court. He waits for someone to point out that he doesn’t resemble a dragon, but the medieval mind does not seem to question the reasonableness of the mythic claims, even in the presence of evidence.

So it goes with the human mind.

And even today we have Fareed Zakaria justifying his use of the term “bullshit artist” for Donald Trump. Trump’s logorrhea is punctuated by so many incomprehensible and contradictory statements that it becomes a mythic whirlwind. He lets slip, now and again, that his method is deliberate: