By Tom Blumer | September 19, 2015 | 10:02 AM EDT

The business press is trying to convince readers, listeners, and viewers that Janet Yellen's Federal Reserve kept interest rates at zero not because of U.S. economic conditions, which supposedly "look good" with "steady economic growth." No-no. She stayed the course because of the troubled tglobal economy.

Thursday evening, Reuters wrote that the Fed failed to move "in a bow to worries about the global economy, financial market volatility and sluggish inflation at home." Bloomberg directly blamed "China growth concerns." The Associated Press's Martin Crutsinger cited "a weak global economy, persistently low inflation and unstable financial markets." None of the three noted the deteriorating situation in the U.S., and the only item I could find which cited the Fed's full set of pathetic annual U.S. growth projections was a Wall Street Journal editorial.

By Tom Blumer | September 12, 2015 | 7:42 PM EDT

Friday's report on the federal government's budget deficit through August told us that with one month remaining in the fiscal year, Uncle Sam will certainly "achieve" an all-time single-year record in tax collections accompanied by all-time record spending.

The Associated Press's Martin Crutsinger apparently didn't consider either item newsworthy. Instead, he decided that the real news is this year's projected deficit will be the lowest in the past years — even though that projected shortfall of $426 billion, though quite likely is by no means certain.

By Tom Blumer | September 3, 2015 | 11:54 PM EDT

The press's failure to tell the public how seriously the U.S. economy is struggling is not the most egregious exercise in reality avoidance we've seen during the past several months. The willful denial of Iran's intent to destroy Israel and its Western enemies, the refusal to acknowledge the inherent institutional ugliness of Planned Parenthood, and the failure to accurately characterize Hillary Clinton's deliberate circumvention of established national security laws and protocols (all because "Her personal privacy was more important than the national interest") are clearly worse.

Nevertheless, the economy-related deceptions have not been unimportant. The press promotes the general impression that, well, conditions aren't ideal, but they're the best we can hope for — and besides, our mess isn't as bad as what we're seeing in rest of the world (and by the way, if the U.S. economy does tank, it will be the rest of the world's fault, and certainly not Dear Leader's). Let's compare Wednesday's exercise in furthering that impression at the Associated Press and compare it to what is really happening.

By Tom Blumer | August 12, 2015 | 9:44 PM EDT

Records are made to be broken, but apparently government spending records are not meant to be reported. The Monthly Treasury Statement released today showed that the federal government spent a mind-boggling $374.86 billion in July. That's an all-time single-month record, surpassing the previous high of $369.39 billion "achieved" in August 2012. Yes, there was a calendar "quirk" which caused this month's report to include five Fridays of disbursements; but that happens four times a year, and a record is a record.

By Tom Blumer | July 31, 2015 | 6:44 PM EDT

These economics reporters at the Associated Press have become experts at deadpan humor.

Earlier today, I noted how the wire service's Christopher Rugaber told readers, in the wake of a government report showing the lowest wage and benefit increases on record, that "the job market is not yet back to full health." No kidding, Chris. On top of that, the AP's Martin Crutsinger reacted to yesterday's tepid report on gross domestic product, which was accompanied by significant downward revisions to the past three years, by expressing "concerns that the U.S. economy has entered a period of historically slow growth." Dude, we have been living through historically slow growth for six years, ever since the recession officially ended in the middle of 2009.

By Tom Blumer | July 14, 2015 | 7:47 PM EDT

First, the good news. The Associated Press's Martin Crutsinger didn't handle his coverage of today's release of May's "Manufacturing and Trade Inventories and Sales" report by the Census Bureau as incompetently as he did the report on wholesale sales and inventories he filed on Friday. Visitors here may recall that the AP reporter referred to a key figure as "inventories" when it really represented "sales." As a result, the typical reader of Crutsinger's Friday AP dispatch could not have known that he was either ignorantly or deliberately covering up a serious 3.8 percent decline in year-over-year sales (6.8 percent before seasonal adjustment) — yet another in a string of such troubling monthly comparative decreases.

The bad news is that in covering the government's manufacturing-related report today, Crutsinger failed to report yet another serious year-over-year sales decline in an economy which we're supposed to believe is growing. Many readers will come away from Crutsinger's coverage and its accompanying headline believing that things are really all right. They're not.

By Tom Blumer | July 11, 2015 | 3:11 AM EDT

Martin Crutsinger has been a business and economics writer at the Associated Press for over three decades. Certain people in high places apparently hold him in high regard. In early 2014, on his 30th anniversary with the wire service, he is said to have received congratulatory letters from soon-to-be Federal Reserve chair Janet Yellen, soon-to-be-former chair Ben Bernanke and Obama administration Treasury Secretary Jack Lew, which he clearly enjoyed as those in attendance munched on a very delicious-looking cake.

We can't know whether the congrats from those heavy hitters merely marked a career milestone, or if they included an element of "Thanks for toeing the line all these years." What I do know is that the dispatch Crutsinger wrote Friday morning on the government's gruesome May wholesale trade report contains errors and instances of ignorance which really do take the cake.

By Tom Blumer | July 5, 2015 | 11:57 PM EDT

All the attention given to the decidedly mixed employment report the government issued early Thursday morning and the ongoing debt drama in Greece overshadowed a very disappointing release on factory orders which arrived from the Census Bureau 90 minutes later.

In a cursory eight-paragraph report at the Associated Press, Martin Crutsinger relayed the basic bad news, but studiously avoided citing the kinds of statistics which might have gotten noticed on the cluttered news day. These items include but are certainly not limited to the fact that seasonally adjusted orders have declined in eight of the past ten months, that reported monthly shipments have been coming in below levels seen two years ago, and that reported monthly orders are trailing levels seen three years ago.

By Tom Blumer | June 11, 2015 | 4:31 PM EDT

In addition to his usual tired historical revisionism, the Associated Press's Martin Crutsinger, in his report on May's budget deficit of $82 billion, failed to mention that the nation is once again operating at the legal limit of its authorized debt. Additionally, he mailed in his final five paragraphs, virtually copying what he wrote on May 12 in covering April's surplus.

The nation's debt ceiling has been stuck at $18.15 trillion since mid-March. Since then, the Treasury Department has taken "so-called extraordinary measures to allow continued borrowing for a limited time" (i.e., engaged in accounting and bookkeeping gimmickry) to keep the official debt total at that amount. Treasury's ability to do this is now expected to run out in December. A few paragraphs from Crutsinger's report follow the jump (bolds are mine):

By Tom Blumer | May 30, 2015 | 10:52 AM EDT

This shouldn't be a trick question, but to the nation's establishment press business reporters it apparently is: What is the current length of the U.S. economy's expansion?

The answer, after yesterday's reported 0.7 percent annualized contraction in U.S. Gross Domestic Product, is obviously zero. But that's not what Bloomberg News and reporter Sho Chandra, who has used her full first name of Shobhana in previous reports, would say. Despite three separate quarterly contractions since the recession officially ended in the second quarter of 2009, they, like the Associated Press's Martin Crutsinger two months ago, want us to believe a fairy tale, namely that we're still closing in on six straight years of expansion.

By Tom Blumer | May 16, 2015 | 9:52 AM EDT

On Tuesday, Associated Press reporter Martin Crutsinger celebrated the federal government's large April budget surplus, caused by "a flood of tax payments (which) pushed government receipts to an all-time high." He didn't mention that the tax payments were higher largely because of tax increases passed in 2013. It certainly didn't occur because of an improving economy — because it's not meaningfully improving.

Crutsinger also noted that the April 2015 result of $156.7 billion "was the largest surplus since April 2008," without telling us that the previous surplus was achieved despite (better argument: "because of") the Bush 43 tax cuts.

By Tom Blumer | May 6, 2015 | 3:50 PM EDT

Tuesday evening, I wrote that there appears to be a need for an intervention among the economics writers at the Associated Press.

At the time, I was referring to how the wire service's Christopher Rugaber, in his dispatch on a trade group's upbeat business sentiment survey appearing about an hour after Martin Crutsinger's writeup on the horrible March trade imbalance, failed to report Crutsinger's relayed observation, based on the opinions of others, that the economy likely contracted in this year's first quarter instead of barely growing at the 0.2 percent annualized rate currently recognized.