Economy

Today's stories at the business wires covering this morning's disastrous durable goods report from the Census Bureau ranged from good to absolutely horrid. March orders only increased by a seasonally adjusted 0.8 percent, less than half of the 1.7 percent to 2.0 percent increase that was expected. Additionally, February's originally reported decline of 2.8 percent was revised down to -3.1 percent…

If what Barack Obama contended in London, England on Saturday was obviously true, I suspect that the establishment press would be broadly proclaiming it and looking back at the President's wonderful work. What Obama is claiming — that his presidency is responsible for "saving the world economy from a Great Depression" — is nonsense, but he's clearly beginning to lobby for it to become the…

Things must be getting grim on the Obamacare front if the Obama administration feels it must send "Zeke the Bleak" Emanuel out to defend it. Though he was on relatively good behavior compared to previous interviews he has given, Emanuel, rather than visibly losing his cool, kept on using Stuart Varney's first name in his responses during a Fox Business interview this week to the point where it…

Class war returns to the front page of the Sunday New York Times, with business reporter Nelson Schwartz’s long jeremiad against special cruise ship packages which surely represent a new Gilded Age, “In New Age of Privilege, Not All Are in Same Boat." On the list of lamentables was a special $10,000 cruise option "hidden" on a ship offering less expensive choices. Yet for a paper which seethes at…

George H. W. Bush pooh-poohed “the vision thing.” Bernie Sanders wouldn’t have a presidential campaign without it. True, the Vermont senator is not known for his grasp of policy minutiae, to which Daily Kos founder and publisher Markos Moulitsas says, in effect, so what? Kos implied that Sanders has caught a lot more flak for his vague answers than Republicans do when they routinely “promis[e] …

Hey Hillary! You really need to do a better job of faking sincerity. That is the advice of Dave Johnson at the Huffington Post. Johnson is worried that in the general election Donald Trump, if he is the nominee, would be a lot more credible in his opposition to trade deals than Hillary Clinton who is merely faking it. What she needs to do to is put on a credible game face to get away with faking…

Solary energy company SunEdison filed for bankruptcy on Thursday. According to Reuters, the company's stock traded as high as $33.44 in July 2015. The stock closed at 22 cents today. Nine years ago, the company's market value was over $17 billion. According to the Associated Press, in July of last year it was still worth $10 billion. The losses aren't limited to investors, however, a fact that…

In Slate’s weekly “Political Gabfest” podcast, CBS News political director and Face the Nation host John Dickerson proclaimed that Hillary Clinton’s e-mail scandal is “a stupid issue” unlike the debate over a $15 minimum wage because that’s “the central question of the campaign, which is how do you help people with wages.”

As the Washington Free Beacon reported today (confirmed here in a chart published two weeks ago), the number of Americans enrolled in the Supplemental Nutrition Assistance Program (SNAP), traditionally known as Food Stamps, dropped below 45 million for the first time in almost five years (actually, 57 months) in January. This is hardly cause for cheer, and does nothing to change the fact that in…

On Sunday, I noted how the Associated Press wouldn't let the awful national news from the Federal Reserve on Industrial Production (second straight month of 0.6 percent contraction) stand alone without trying to offset it with phony evidence that U.S. manufacturing is showing "signs of stability." That "evidence" was primarily a positive manufacturing survey result from just one state: New York.…

Appearing as a guest on Wednesday's Fox and Friends, Milwaukee County Sheriff David Clarke slammed "liberal Democrat mayors" for mishandling crime and the economy in their cities, and accused Democratic presidential candidate Hillary Clinton of "pandering" to black voters in a recent appearance on a radio show, as he asserted that her behavior is "dehumanizing, it's embarrassing, it's disgusting…

On April 1, the Associated Press, in an online video which I covered in an April 2 NewsBusters post, interviewed three California business owners about the impact the state's just-passed $15-per-hour minimum wage would have on their businesses. Though the video was headlined "Small Businesses React to Calif. Wage Increase," the owners interviewed weren't representative of the whole state in any…

In another blow to the U.S. and worldwide economy, chipmaker Intel announced today that it is reducing its worldwide workforce by 12,000 people, a cut of 11 percent. Of course, there are tech-related reasons why the company made the move, most notably the shift by some users to tablets and smartphones, where the company's market penetration has been weak and almost non-existent, respectively, as…

Has Newsweek just admitted to something the rest of the press knows but won't acknowledge? In promoting its insufferably fawning portrayal of California Governor Jerry Brown, the weekly magazine tweeted that Brown is "arming California to meet an economic recession head-on." Recession? What recession?