Economy

Imagine if a Republican or conservative U.S. president told an audience — on foreign soil, no less — that he didn't properly warn Americans about how long it would take for the economy to recover from a recession. "So-and-so Admits He Lied About the Economy" would be headlined everywhere. At the University of the West Indies in Jamaica on Thursday, President Barack Obama essentially admitted…

Imagine you're a Cuban who has somehow managed to catch the cablecast of Melissa Harris-Perry's MSNBC show today.  The topic is President Obama's opening toward Cuba. You're scraping by on the average Cuban monthly salary of $20/month and are thrilled at the prospect of getting a better-paying job if and when American tourists start coming in numbers. Then suddenly you hear Harris-Perry fretting…

Vaccine skeptics have a well-deserved reputation for not caring about facts, but according to American Prospect blogger Paul Waldman, many right-wing anti-taxers resemble anti-vaxxers in terms of their shaky grasp of reality. “All the GOP presidential candidates are lining up to receive the wisdom of Arthur Laffer as they formulate their economic plans,” wrote Waldman in a Friday post. “This is…

In a Friday American Prospect piece (originally published on Wednesday in the Washington Post) WaPo columnist Harold Meyerson suggested that even though the South didn’t win the Civil War, its mean-spirited ideas, racial and otherwise, now drive the Republican party. Meyerson asserted that today’s GOP “is not just far from being the party of Lincoln: It’s really the party of Jefferson Davis. It…

It took the Associated Press barely 2-1/2 hours to bury the bad news in the Census Bureau's 10 a.m. release on February wholesale sales and inventories. As of 12:32 Eastern Time, Martin Crutsinger's 10:21 a.m. time-stamped story was not present at the AP's Top 10 Business stories page (saved at my host for future reference), making it quite likely that the news won't get much prominence at the…

Last October, we relayed that the NBCUniversal-owned Syfy cable network made a development deal with leftist actors Matt Damon and Ben Affleck for a corporate-dystopia series called “Incorporated.” Now The Hollywood Reporter is offering an update: Syfy has greenlighted the making of a pilot episode. Corporate leftists demonstrate a surprising capacity for hypocrisy. The Syfy press release –…

The business press and the financial analysts and economists they consult continue to mostly blindly rely on the seasonally adjusted figures the government and other economic report generators hand them on a silver platter. If these de facto stenographers had dug just a little deeper a month ago, they might have avoided the serious embarassment of predicting a level of seasonally adjusted March…

In a Tuesday post, The Nation blogger Dave Zirin argued that it’s politically unseemly for Gov. Scott Walker to root publicly for certain Wisconsin sports teams, including the University of Wisconsin basketballers, who came up just short in last night’s men’s national title game against Duke. Zirin claimed that it’s “almost flagrantly irresponsible” for the media to publicize Walker’s support of…

Chickens came home to roost yesterday at the Associated Press. The AP, the economy's most consistent cheerleader when a Democrat is in office, has not only been ignoring and downplaying the significance of disappointing and negative reports for several months, pinning its claim that all is well on the streak of seasonally adjusted 200,000-plus job gains seen during the past 12 months. It has…

So Harry Reid knew he was lying about Mitt Romney not paying taxes for ten years when he made the claim in 2012 from the lawsuit-free zone known as the floor of the U.S. Senate, but didn't care. That's what one must conclude from Reid's response to CNN's Dana Bash about that statement. Asked on the network's New Day program if he regrets what he said, Reid responded: "Romney didn't win, did he…

Adam Davidson of National Public Radio lumped people who oppose illegal immigration with racists and homophobes (like his grandfather) in the New York Times magazine: When I was growing up in the 1980s, I watched my grandfather -- my dad’s stepdad -- struggle with his own prejudice. He was a blue-collar World War II veteran who loved his family above all things and was constantly afraid for them…

The government's report on consumer spending released this morning was another disappointment. Seasonally adjusted spending increased by just 0.1 percent, falling short of modest expectations of a 0.2 percent jump, following 0.2 percent declines in both December and January. The opening paragraphs of coverage at Bloomberg News and the Associated Press contrasted sharply. Longtime readers can…

In Chicago, incumbent Mayor and longtime Democrat fixture Rahm Emanuel floated the idea of renaming one of its airports after President Obama. After all, according to Emanuel, both of Chicago's major airports, O'Hare and Midway, are "named after battleships." No they're not, as will be seen after the jump. The Chicago Tribune's Bill Ruthhart failed to recognize Emanuel's startling gaffe until…