Economy

The political definition of Cronyism is: government policy that favors one or more specific beneficiaries - at the expense of everyone else.  To wit: $80 billion of the 2009 “Stimulus” was wasted on “green energy” companies - 80% of whom were Barack Obama donors.  Amongst the parade of horribles contained therein: the government took money from energy companies - to fund competitors to their…

On Friday's Real Time on HBO, host Bill Maher aimed venom at a number of conservative public figures as he referred to Uncle Ben's rice in a racially tinged joke about Dr. Ben Carson, and asserted that it is President Reagan's fault that many middle aged white Americans have personal problems that lead them to drunkenness, heroin addiction, and early death, as the HBO host tagged them "Trump…

Add Arizona's Meritus Health Partners to the growing list of Affordable Care Act co-op failures. The Daily Signal reports that this makes 11 of 23 such state Obamacare co-ops which will have closed their doors by the end of 2015 after three or fewer years in operation. The Associated Press, which, along with most of the rest of the establishment press, has been playing aggressive defense on…

The heyday of patent medicine, medicine shows, and related phenomena has been over for more than a century, right? Yes and no, implied Esquire's Pierce in a Thursday post. While it’s true that (for example) Coca-Cola no longer is sold as a cure for impotence, political snake oil, Pierce asserted, has become the chief product of the Republican party. Pierce’s peg was Ben Carson’s involvement with…

As is so often the case with such stories, one can tell how favorable or disappointing a government report on the economy was by whether a story about it is still present at the Associated Press's "Top Business News" page several hours after its release. Today's news from the Census Bureau on September's factory orders and shipments, released at 10 a.m., was extremely disappointing. Thus, it is…

Who said it? "Get rid of all this corporatism, this corporate welfare . . . I would love to have the government stop this corporate welfare--that's what I want . . . This is a huge racket that's wrecking the country."  Did you guess Bernie Sanders? Probably not because you read the headline. Yet no one could be blamed for thinking it was Sanders. But indeed, it was Charles Koch, who said it in…

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…

Many of the state cooperative health insurers, or "co-ops," set up under the provisions of the Affordable Care Act, aka Obamacare, have gotten into serious financial trouble quite quickly. Almost half have cracked up completely. Specifically, as noted at Forbes.com on Thursday morning, "[O]f the 24 Obamacare co-ops funded with federal tax dollars, one (Vermont’s) never got approval to sell…

Here's what should be an easy question: With data which has already been seasonally adjusted, what's more important — a) the fact that an index is a) up by 3 percent in the past year or b) the fact that it has fallen 5 percent in the past four months? The correct answer is obviously b) — unless you're a writer for the Associated Press whose mission is to convince readers that the housing market…

The government's Personal Income and Outlays report for September bore more evidence of a slowing economy. Consumer spending rose by only 0.1 percent, trailing expectations of 0.2 percent. That's troubling news, given that the optimists believe that strong consumer spending will supposedly drive stronger fourth-quarter economic growth. Lucia Mutikani's coverage at Reuters made a common error in…

The competition for the worst moderator moment of Wednesday night's GOP debate is fierce. John Harwood's rephrasing of an old and discredited charge that Marco Rubio's tax plan disproportionately benefits the top 1 percent has to be in the running. That's especially true because Harwood himself had to back away from a simialr contention two weeks ago, yet still brought up the same issue with a…

Preparing the battlespace for tomorrow's report from the government on third-quarter Gross Domestic Product growth, the Associated Press's Martin Crutsinger early this afternoon told readers that we're likely to see "a subpar pace by any standard." But we shouldn't worry, because the AP reporter contends that tomorrow's news will just be a temporary trough in this year's "dizzying roller coaster…

Continuing to come unhinged and flash his liberal colors in the first CNBC Republican presidential debate on Wednesday, co-moderator John Harwood pontificated that President Obama has made the United States economy “the strongest in the world.”

The media are, of course, almost uniformly Leftist - which means they just about always toe the Party line.  Including the belief that in order to help the poor - government must perpetually grow.  Of course we conservatives also want to help the poor - we just think shrinking government is the way to actually do it. When things get more expensive - the poor get hammered hardest.  But the media…