Economy

Shortly after its release this morning, Josh Boak at the Associated Press posted his coverage of the Census Bureau's August retail sales report. On a seasonally adjusted basis, August's sales came in a very mediocre 0.2 percent greater than July. It's almost too kind to say that Boak's writeup was delusional. The AP reporter celebrated "surges" in spending, "fed ... by solid and steady job gains…

You wouldn't know it from reading the national coverage by the Associated Press or stories at the Los Angeles Times, but California Governor Jerry Brown and his fellow far-left Democratic Party environmentalists suffered significant setbacks last week. How bad? So bad that the Times editorial board accused "a new crop of moderate Democratic legislators" of succumbing to "oil industry propaganda…

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…

Following Vice President Joe Biden’s very publicized appearance, Late Show host Stephen Colbert also welcomed Uber CEO Travis Kalanick to the program Thursday night, but it was anything but friendly as Colbert hammered Kalanick on the effect his company has had on the taxi industry, surge pricing, the Uber Eats initiative, and driverless cars. Colbert demanded: “What is your response to Uber…

Today's Monthly Wholesale Trade report from the Census Bureau covering July was the latest in a wave of disappointing reports on business activity this year. Wholesale inventories remained very high, while sales turned in a seventh consecutive month of year-over-year declines. Much of that sales decline is due to the fall in oil prices during the past year. But even after factoring that out,…

It would be easy to conclude, based on its treatment of a story about Illinois lottery winners suing to force the state to disburse their payouts, that the Associated Press really doesn't want readers and its subscribing outlets to learn about it. This "keep them in the dark" approach is consistent with a previous AP story on the state's failure to pay lottery winners. Let's start with that…

Democrats' current and potential candidates for their party's 2016 presidential nomination continue to complain about various aspects of the economy. They continue to make no connection between their complaints and the fact that Democrat Barack Obama has been in the White House for over six years. Obama has for the most part operated either under the conditions created by the 2009-2010 Congress…

The debate rages on as to whether Donald Trump represents the essence of the Republican party. Very broadly speaking, conservatives say he doesn’t and liberals say he does. One liberal, Michael Tomasky, claims that Trump, despite his left-of-center positions on several fiscal and economic issues, nonetheless embodies the “two qualities more than any others [that] have driven conservatism in our…

A popular meme in the wake of Friday's jobs report seen at many media outlets is that August's reported job growth of 173,000 seasonally adjusted jobs is a virtual lock to be revised up by 50,000, or 78,000, or perhaps even more, since such revisions during the past three years have been unusually large. Well, since they opened that can of worms, let me make clear to everyone that even if those…

Here's a little parlor exercise readers can conduct with their friends who think that high-tech CEOs are the innovative saints of the universe. The game would be to take the first three paragraphs of Michael Liedtke's Associated Press report on the collusion settlement to which that industry's major players just acquiesced, and revise it to reflect a different industry far less favored by the…

In America, the rightful role of politics and politicians is to defend the Constitution.  And the essence of that Constitution is to limit the powers of government while protecting the unalienable rights of the people as described in the Declaration of Independence. But according to a prominent Catholic sister, Pope Francis has a very different view, one which she obviously shares.  Appearing on…

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…

In a Tuesday post, David Roberts opined that “nativist conservatives” won’t accept that America shares responsibility for climate change, or for any other “ills in the world,” because they believe that the very idea is “unpatriotic.” “Conservative psychology is averse to ambiguity and nuance,” asserted Roberts, “so for ideological conservatives America is either God's chosen country, a force for…

Silly me. I really thought that every state's lottery operation was walled off from the rest of its finances. They collect bets, pay out winnings and administrative costs, and turn over the profits to general fund. End of discussion. No muss, no fuss. Right? In Illinois, based on recent developments, we know that's obviously not the case — leading me to wonder how many other states potentially…