Economy

New York magazine’s Jonathan Chait claims that for today’s GOP, “everything Reagan thought or did was presumptively correct, even the things that contradict the other things he did.” Specifically, “the Reagan cult is largely (though not entirely) a propaganda vehicle for the anti-tax movement,” even though “in reality, Reagan veered wildly out of step with anti-tax orthodoxy.” The Washington…

Apparently, the sheer number of weak to awful economic reports seen during the past month or so finally led Josh Boak at the Associated Press, aka the Administration's Press, to acknowledge that "critical pieces of the economy remain troubled almost six years into the recovery." Boak's belated timing is interesting, to say the least, given that the Federal Reserve is weighing whether or not to…

As we know - America’s media is for the most part decidedly Leftist, often befuddled and rarely right.  So when they wade into an intricate issue like President Barack Obama’s Net Neutrality Internet power grab - we can only expect even more Leftism, befuddlement and wrongness. On February 26, the Obama Administration’s Federal Communications Commission (FCC) pretended to be Congress and rewrote…

Esquire’s Pierce claims that Republicans’ subversive efforts are fueled by a mixture of avarice (“they want the country to come apart so they can sell off the pieces to the people who run their campaigns”) and racism: “This heresy, which should have died at Gettysburg, is part and parcel of the modern conservative movement, which was born out of the flotsam left behind by the (partial) fall of…

The only surprise should be that anyone is surprised. Those who are used to how frequently the word "unexpectedly" appears in reports about disappointing economic data certainly won't be at all shocked at a Friday Bloomberg News report by Steve Matthews and A. Catarina Saraiva telling readers that "U.S. economic data have been falling short of prognosticators' expectations by the most in six…

The business press's ability to keep up the appearances of "recovery is just around the corner" for over 5-1/2 years has been simultaneously amazing and disgusting. One of their strategies has been to define a "new normal" which is only presented that way because everyone knows deep-down that as long as the left controls economic policy, the nation's economy won't ever really get any better than…

The Associated Press, aka the Administration's Press, is hard at work putting a brave face on a shaky economy. Just one example: On Thursday, after February consumer spending fell sharply for the third straight month, the wire service's Christopher Rugaber reported that "Freezing temperatures and snowstorms likely weighed on sales in February," and that "steep drops in gas prices dragged down…

Less than five hours after its release, the government's news that retail sales fell by 0.6 percent in February — compared to a 0.3 percent increase expected by economists and analysts — is buried way down (about 6-8 screens, depending on your computer) on the home page of Bloomberg News, where the focus is supposed to be on developments in business and the economy. Instead, the web site's main…

It has been eleven months since the firestorm over Mozilla co-founder and just-promoted CEO Brendan Eich ended in his resignation. Eich's "offense" had nothing to do with how he planned to run the business. What led to his departure shortly after he was named CEO was that six years earlier he had given $1,000 to those who supported the California Proposition 8 ballot measure prohibiting same-sex…

Stocks took a beating yesterday. The Dow Jones Industrial Average lost 279 points. The S&P 500 and the NASDAQ each declined by over one percent. The subject line of a USA Today email I received shortly after the closing bell crystallized the establishment press "wisdom": "Dow plunges nearly 280 points as strong jobs data raises Fed rate hike fears." The problem is that even though the…

Leave it to a writer at Mother Jones to dispense condescending healthy eating advice while serving up a side dish of alleged historical racism with a tincture of capitalism bashing. Kiera Butler, a senior editor there, didn't have to engage in either exercise to make her nutritional points, which may have some validity. She must have felt that her primary headline ("Why You Should Stop Eating…

Several conservative economic thinkers including CNBC's Larry Kudlow and media magnate Steve Forbes recently formed the Committee to Unleash American Prosperity in an effort to persuade aspiring presidents to focus on “the paramount challenge facing our country: slow growth and stagnant incomes.” Three economists in the group explained their goals in a March 3, Investor's Business Daily op-ed.

After yesterday's government report on economic growth reduced the fourth quarter's originally estimated increase in gross domestic product from an annualized 2.6 percent to 2.2 percent, you just knew that the Associated Press, aka the Administration's Press, would try to ride to the rescue. Late Friday afternoon, the AP's Martin Crutsinger gamely tried to concoct five reasons why we shouldn't…

Well before Obama moved into the White House, he believed his presidency would have “the potential for shifting the national paradigm” to the left as Reagan’s moved it to the right, and Brian Beutler contends that such a shift still could happen if “the economy’s rapid growth in recent quarters” continues.