Economy

Following up on yesterday's post ("Government/General Motors, UAW Hose Long-Time Members Twice in Two Weeks"; at NewsBusters; at BizzyBlog) -- What a "revolting" development this is, as reported in the Detroit News: GM Orion assembly workers to picket UAW over two-tier wage structure In an unprecedented move, Government/General Motors and the UAW are imposing a two-tiered wage structure…

There are times when you have to wonder whether liberal shills in the media are are just ignorant or dishonest. Monday is one of those times. Consider Nobel laureate Paul Krugman's most recent column in the New York Times entitled "Hey, Small Spender" wherein the man the Left considers to be one of the economic geniuses of our time argues that federal spending really hasn't increased under…

Just in case anyone mistakenly believes Obama has heard (or gives a rip about) the loud voice of the American people rejecting his socialism, appeasement, unconstitutional abuses of power and unpresidential combativeness and divisiveness, let me share a few tidbits. --After House Minority Leader John Boehner, R-Ohio, issued a damning critique of Obama's economic policies, the administration's…

George Will on Sunday once again proved how little Nobel laureate Paul Krugman actually knows about economics. As the Roundtable segment of ABC’s “This Week” approached its conclusion, host Christiane Amanpour referred to French Finance Minister Christine Lagarde’s claim earlier in the program that her country’s economy is already growing and doesn’t need any further stimulus spending.…

Solidarity, schmolidarity.  It was one thing when the United Auto Workers agreed many years ago to temporary "two-tiered" wage structures at the plants of Detroit's Big Three automakers. After all, it was argued, they'll be brought up to a level of full pay and benefits in several years, and new employees aren't as productive as the veterans.  

The more I watch Ed Schultz on MSNBC, the more I realize he may actually be a bigger idiot than recently fired CNN anchor Rick Sanchez.Helping to prove my point, Schultz on Thursday said companies that buy back their own stock are un-American."Large companies have purchased -- here are the numbers -- $273 billion -- billion -- of their own shares this year. And my friends, that is five times as…

The final government unemployment report before the midterm election was released Oct. 8 showing a loss of 95,000 jobs in September, and an additional 15,000 losses in July and August and an unemployment rate still at 9.6 percent. But Gallup warned on Oct. 7 that the BLS report was "likely to understate" the job losses in September. By its calculations the unemployment rate is actually…

With congressional Democrats divided on how to approach the soon-expiring Bush tax cuts, reliably liberal Newsweek has taken upon itself the task of defending tax hikes, particularly those on the "rich." In back-to-back posts today, Ben Adler sought to dismiss the stimulative effect of tax cuts while Nancy Cook profiled some rich liberals who are allegedly looking forward to their taxes going up…

In the course of preparing a post earlier today (at NewsBusters; at BizzyBlog) dealing with a glaring error in a New York Times story on planned Christmas/holiday/fourth quarter hiring, I came across this search result at Google news on "holiday retail sales" (not entered in quotes) at about 11 a.m.: With all due respect to WHIO in Dayton and reporter John Bedell, I don't understand how your…

Two New York Times reporters were out to lunch, while the Old Gray Lady's layers of fact-checkers were apparently asleep at the switch. In an item which contained a number of oddities, Times reporters Stephanie Clifford and Catherine Rampell wrote the following: Over all, full-time work in retail is slightly down. The number of people employed in the retail sector in August fell 4.9 percent, to…

CNN's new host Eliot Spitzer slammed the Tea Party movement on Tuesday's Parker-Spitzer: "I think that that piece of the Republican Party is vapid. It has no ideas....They're going to destroy our country." Spitzer also accused Tea Party members of forwarding a "Herbert Hoover vision of government...saying, we want to take away the very pieces of government that created the middle class."The…

Appearing on Wednesday's CBS Early Show, business correspondent Rebecca Jarvis expressed disappointment in the lack of a new stimulus package, but hoped for other government action: "...while the government doesn't necessarily have the political will or the motivation to put a new stimulus into effect here in the United States, the Federal Reserve is prepared to step in and do that."Co-host…

One of the most embattled commodities over the last few years as the economy has struggled has been one of the most precious of all metals – gold. Over the last 12 months, the price of gold has appreciated considerably. But CNBC host Jim Cramer contends it is going higher – much higher. In an Oct. 5 interview for with Alix Steel, a reporter from Cramer’s website TheStreet.com, Cramer explained…

So more government isn’t the answer to all of our problems? For a brief moment, that seemed to be the message Huffington Post editor-in-chief and co-founder Arianna Huffington was conveying.  On CNBC’s Oct. 5 broadcast of “Squawk Box,” Huffington, author of “Third World America” explained what she thought the role of government should be in an American economic system. Now whether she was…