Economy

CNN's efforts to spin the current economy have gotten to the point of being ridiculous. For three days in a row, a series of reports all showed persistent layoffs above expectations, and in each case CNN.com inexplicably reported optimism.  First up was an ADP report released Wednesday which tracked the economy from the side of business owners and how many workers they laid off. Instead of…

In a Friday news analysis piece that appeared in the paper's print edition today (teased at its web site as seen on the right), Jackie Calmes at the New York Times began with a pathetic headline, and opened with pity on our poor overwhelmed, stressed-out, stretched-in-all-directions President: Obama Tries to Turn Focus to Jobs, if Other Events Allow President Obama keeps trying to turn attention…

While countries like China, Brazil and India are on the path to ascendency, the United States appears to be heading in the opposite direction, according to the former CEO of a major U.S. bank. In a segment on the Jan. 7 broadcast of the Fox Business Channel's "Stossel," John Allison, the former CEO of North Carolina-based BB&T Corporation (NYSE:BBT), the 10th largest bank in the United…

The Associated Press's Tom Raum had to work really, really hard to come up with a sunny way to present today's jobs report and the President's reaction to it, which consisted of awarding $2.3 billion in "New Clean Energy Manufacturing Tax Credits." Here's what he concocted: The weak employment report gave Obama the chance to change the subject from terrorism, where he continues to get hammered…

Toyota and Ford are on the verge of catching Government/General Motors in monthly U.S. vehicle sales. Based on the sales trends at the three companies, GM may lose its domestic kingpin status in just a few months. I heard the December facts giving rise to the aforementioned tidbit on the radio Monday afternoon, and wondered whether the commentator came up with them on his own or if early wire…

First of all, let me wish you a happy and prosperous New Year, and I want to thank you all for reading this column and letting your thoughts be known by responding.Whether your reaction to what I write be pro or con, it's always good to know what's on your mind, and I sincerely hope that you will continue to do so.There is a great frustration abroad in America these days and goodness knows we…

Unemployment shot up in 2009 from 7.7 percent in January to 10.1 percent in October before settling at 10 percent in December. Behind those percentages were more than 4.1 million people who lost their jobs during the year. According to data from the Bureau of Labor Statistics, that's the most job losses in a year since 1940. (BLS could only provide data from 1940-2009) But don't expect…

The economy shed far more jobs in December than economists had expected.The Labor Department announced moments ago that nonfarm payrolls declined by a surprising 85,000 workers last month. Economists had been expecting no change or maybe a small decline.One bright spot was healthcare which added another 22,000 jobs. Despite efforts by Democrats to "reform" this industry, it remains one of the few…

Given the well documented "revolving door" between the media and the Democratic Party (particularly the Obama administration), it's hardly surprising that MSNBC "The Ed Show" host Ed Schultz has been approached about a run for the Senate from North Dakota. But it's still hard to swallow the left's hypocrisy concerning who can make the jump from journalism to politics. On his Jan. 6 broadcast,…

Speaking to Virginia Governor Democratic Party Chairman Tim Kaine on Thursday’s CBS Early Show, co-host Maggie Rodriguez pointed out a potential dire situation for Democrats in the 2010 midterm election: “Your party stands to lose a lot in the fall. Its 60 vote majority in the Senate, dozens of seats in the House, as well as Governor seats across the country.”An on-screen headline posed the…

Rolling Stone, a music magazine in the same sense that MTV is a music-video channel, was featured on this morning's edition of Morning Joe.  Their cover story is not about the latest escapades of Kanye West or Lady Gaga; instead, they have chosen to write about global warming.  Before anyone asks, none of the above recording artists (to my knowledge) have recorded a song which would have spawned…

The network news media cheered when Obama called for restrictions on CEO pay or bonuses that, according to reporters, exemplify the Wall Street "greed" that toppled the American economy. But when $42 million in cash compensation packages were announced on Christmas Eve for Fannie Mae and Freddie Mac executives, the networks couldn't muster any anger toward the highly connected groups. Although…

In the eyes of many in the liberal media, President Obama can do no wrong. If he does, it's not his fault; he is simply a victim of circumstance, or he made the best decision he could given the options. One can tell news items portraying Obama in this light by their descriptions of problems in the passive voice.Take yesterday's New York Times article by Jackie Calmes, for instance. The piece…

Imagine this - a view of the floor of Chicago Mercantile Exchange at some forthcoming time, but instead of soybeans, pork bellies, corn and wheat, traders are exchanging water and/or water futures. That seemed to be the vision of Steven Solomon, author of "Water: The Epic Struggle for Wealth, Power, and Civilization," who appeared on MSNBC's Jan. 5 "Morning Joe." According to Solomon,…