By Tom Blumer | November 23, 2015 | 1:56 PM EST

Gosh, this gets tiresome.

Once again, with one noteworthy exception, the business press's virtually blind acceptance of seasonally adjusted economic data, and its accompanying refusal to look at the underlying raw data, led it to paint a deceptive picture of an important element of the economy. This time, it was existing home sales for October. The seasonally adjusted annual rate for October reported by the National Association of Realtors this morning is almost 4 percent higher than seen in October 2014. The trouble is, the raw sales data show an increase of less than 1 percent.

By Tom Blumer | November 16, 2015 | 12:35 AM EST

Japan's two-decade romance with Keynesian economics has led to another betrayal — and yet the press and all the supposedly smart economists and analysts seem to believe that just one more fling might bring about a different result.

The Land of the Rising Sun, aka the Land of the Two-Decade Zombie Economy, has just reported an annualized contraction of 0.8 percent in the third quarter. The decline, following a revised 0.7 percent second-quarter downturn, means that the country is once again in a recession — its second in three years (Update: And fifth since 2008). Oh, but don't worry. It's no big deal. The Associated Press insists that it's only a "technical" recession, and more Keynesian "stimulus" could set things right — even though such measures, in place to varying degrees since the 1990s, have consistently failed to bring about sustained, meaningful recoveries:

By Tom Blumer | October 31, 2015 | 10:47 PM EDT

On Thursday, the government reported that the nation's economy turned in yet another quarter of poor economic performance, estimating that its gross domestic product grew at an annual rate of 1.5 percent in the third quarter.

The business press almost universally downplayed the news, and told readers that the fourth quarter will be better. No one talked about how much the tepid growth of the past six-plus years since the recession officially ended has been sacrificed in the name of misguided and dangerous Keynesian stimulus. As is so often the case, an editorial at Investor's Business Daily did that, performing a job the press has consistently refused to do.

By Tom Blumer | October 24, 2015 | 10:30 PM EDT

The news coming out of Detroit about near-deadline negotiations between the United Auto Workers union and General Motors has been pretty quiet. As the Sunday 11:59 p.m. deadline approaches, the Associated Press only has a four-paragraph blurb indicating that the union wants to get a richer package than it just garnered in negotiations with Fiat Chrysler. A Reuters report goes into detail about GM's cost structure still being higher than that seen at Toyota's and Nissan's U.S. plants by about 15 percent and 31 percent, respectively. The New York Times is only carrying reports from the wires.

One note of substance about the UAW's strategy covered at Bloomberg News — surely known to others following the industry who are filing bland reports — is that it plans to milk the unemployment insurance system in the event of a protracted strike.

By Kyle Drennen | October 20, 2015 | 10:21 AM EDT

During a discussion with Bloomberg Politics editor Mark Halperin on Tuesday’s NBC Today, co-host Savannah Guthrie touted how Hillary Clinton had “set the table” for her testimony before the Benghazi Committee on Thursday. Halperin proclaimed: “This appearance has been looming on her calendar and her staff’s calendar with dread, thinking this could be the worst day of the year for her. It could now be the best day.”

By Brad Wilmouth | October 18, 2015 | 5:21 PM EDT

Appearing as a panel member on Sunday's Up show on MSNBC, Bloomberg View columnist and MSNBC political analyst Jonathan Alter, picking up on what he called "one of Donald Trump's great contributions to this campaign," contended President Bush deserved blame for not stopping the 9/11 attacks as he recounted a vague warning from August 2001 that Osama bin Laden wanted to attack the U.S. He further accused the "Bush people" of "Orwellian, deceptive, historically amnesiatic thinking."

By Brent Baker | October 16, 2015 | 9:28 PM EDT

Another Hollywood liberal infatuated by Hillary Clinton and Bernie Sanders. Actress Jill Hennessy, best-known for starring roles in NBC’s Law & Order and Crossing Jordan, hailed Hillary Clinton: “I just think she has accomplished more than most people accomplish in about five lifetimes.” But she was quick to also trumpet Bernie Sanders: “I find him really inspiring. I think he’s tremendous.”

By Kyle Drennen | October 16, 2015 | 11:49 AM EDT

Appearing on Friday’s NBC Today, Bloomberg Politics managing editor John Heilemann saw a rapidly closing window for Joe Biden to enter the presidential race: “...if he's making a calculation on the political landscape, it's more forbidding now than it was a month ago. You've got Hillary Clinton performing well at this debate, the Benghazi Committee now kind of delegitimized. She's teed up to have a great day next week, where it could have been a bad – a moment of peril.”

By Tom Blumer | October 16, 2015 | 12:50 AM EDT

The disgraceful determination of Hollywood to rewrite history not favorable to the left, its causes and its personalities has perhaps reached its nadir with the laughably misnamed movie Truth.

The film is about Dan Rather's September 2004 60 Minutes report on President George W. Bush's Texas Air National Guard Service during the 1970s. In Rather's words, "The nuanced, not preachy, script makes clear our report was true." The script may say that, but the historical record doesn't. On October 2, John H. Hinderaker and Scott W. Johnson's writeup detailing how bogus that report was from top to bottom appeared online at The Weekly Standard. Reading that essay in its entirely is undoubtedly important; but in this case, so is ridicule. Megan McArdle at Bloomberg View supplied that back in July.

By Seton Motley | October 13, 2015 | 8:42 AM EDT

We’ve time and again seen the media receive their messaging orders  - and then march off all mouthing the Leftist talking point(s) of the day.  Washington, D.C.-based talk radio host Chris Plante quotes a military friend of his describing the media not as a gaggle, but as a centipede.  Multitudinous legs in coordinated movement - all headed in the same direction. 

Talk radio impresario Rush Limbaugh has long made audio cavalcades of this media mal-practice a routine feature of his show.  He strings together “media montages” - innumerable examples of “reporters” magically all arriving at the exact same Leftist term(s) to describe the news of the day.  

By Tom Blumer | October 8, 2015 | 3:39 PM EDT

Did you know that the "The Gun Lobby Rewrote the Second Amendment"?

No, really. Even though not a single word contained in that amendment has changed in over 220 years, you should believe it because former Obama administration official Cass Sunstein said so at Bloomberg View on Wednesday.

By Curtis Houck | September 22, 2015 | 11:50 PM EDT

The “big three” of ABC, CBS, and NBC all failed to cover on Tuesday night a new chapter in the Hillary Clinton e-mail scandal concerning the reason she turned over her work-related e-mails while CBS also neglected to tell their viewers that Clinton finally came out against the Keystone XL oil pipeline after pressure from liberals and environmentalists.