Discussion about this post

User's avatar
Marc Martinez's avatar

Fun with numbers! Here are a couple of different takes on the red state murder stats: https://thefederalist.com/2022/10/12/the-lefts-funny-new-lie-its-the-red-states-with-more-crime/

https://nypost.com/2022/10/11/dems-shameless-ploy-to-blame-crime-rise-on-red-states/

And for local interest. The Illinois murder rate in 2020 was 9.2 per 100,000 as compared to Florida's 5.9. Chicago's murder rate was 28 and Jacksonville was 10.8. Also interesting is that the 2020, murder rate for Illinois, excluding Chicago, is 3.3. There were 200,000 FOID card holders in Chicago and 2,000,000 in the rest of the state in 2020. That is10 times more legal gun owners and about 1/10th the murder rate. I surmise that there is an urban crime problem that has little or no relationship to legal gun owners.

Expand full comment
Marc Martinez's avatar

Froomkin also said the probelm is the "failure of the national media to fully explain the positive economic news and inflation’s roots in intractable international conditions and the extraordinary pricing power of monopolistic corporations." This is complete nonsense, unsupported by any facts or economic theory. Monetary Theory posits that the excessive increase in the money supply causes economy wide inflation. There are only four ways to reduce the money supply.

The Federal Reserve is doing what it can with quantitative tightening (selling bonds on its balance sheet) and interest rate increases which both reduce the money supply.

The only thing that the Federal government can do to reduce inflation is to cut spending or increase taxes (or both) with the net effect of reducing the deficit, which reduces the money supply. Biden's tax and spending policy continue to increase the deficit. And his proposed investments, which are not paid for by his tax proposals would further increase the deficit. The Republicans have said they want to cut spending, although this is vague and unspecific.

Neither gives me any confidence but if Froomkin wants to rant about the media failing to rebut obvious nonsense then we need to include the nonsense that corporations or supply chains or commodity prices or foreign governments or price gouging have anything to do with inflation. Likewise, the absurdity that subsidizing or capping any consumer price (like drugs or gas or day care) has any effect on inflation.

Expand full comment
6 more comments...

No posts