Economy

In an October 16, 2009, article in the Boston Globe, staffer Andrea Estes makes the eye-opening assertion that the economy in Massachusetts is "generally improving." Facts and reality suggest otherwise. Consider:In 2009 alone, unemployment in Massachusetts has swelled from 7.4% (Jan. 2009) to 9.3% (Sept. 2009)."[L]ocal aid to cities and towns [is] already down more than $700 million from the…

Lately there's has been an anti-Wall Street sentiment, propagated by the media that has become exacerbated as the Dow Jones Industrial Average (DJIA) hit 10,000 Oct. 14. On CNBC's Oct. 15 "Street Signs," Jim Cramer, host of "Mad Money," was asked by fill-in host Melissa Francis what he thought about the outrage over Wall Street hitting its stride, while unemployment continues to rise. "What did…

You might think that the three major networks would look favorably upon the Dow Jones Industrial Average (DJIA) breaking through the symbolic 10,000 mark. After all, it they could use it as an opportunity to spin the news as a victory for Barack Obama and his economic policies. But that wasn't the case. Instead ABC, CBS and NBC used the occasion to point out that the rich on Wall Street are…

How many times have we heard President Barack Obama or high-ranking members of his administration lament the fact that the president "inherited" a recession? Quite a few, if anyone is keeping track. Now the Dow Jones Industrial Average (DJIA) has broken through the 10,000-point barrier. But that begs the question given the inevitable credit Obama will get from the media and other supporters for…

Eight months after President Obama signed a stimulus package worth $787 billion, less than half the funds have been spent and nearly half of Americans want the remainder to be repealed. Of course, that hasn't stopped the mainstream media from pushing for more. Recall that before the first bill was even signed, Reuters hailed a statement from billionaire George Soros warning that it wouldn't…

It's an odd natural occurrence when you put MSNBC "Hardball" host Chris Matthews and CNBC "Mad Money" host Jim Cramer together, but when it happens they seem to draw some obvious conclusions - albeit nearly 10 months too late.  Back in January, Cramer appeared on Matthews' show. They both expressed their concern over the $787-billion stimulus, which eventually passed and asked if it really was…

Let's see. A Big 4 independent public accounting firm vs. the Democratic Party's go-to health care economics guy. Who has more presumptive credibility? It's more than a little offensive to see the people whose party gave us entitlement programs with multitrillion-dollar unfunded liabilities (Social Security and Medicare), pension plans that are completely unsustainable (the federal government…

A New York Times article by Nick Bunkley on Friday targeted for print on Saturday about the status of contract talks between Ford Motor Company and the United Auto Workers piqued my interest in a previously neglected but important matter. Ford and the UAW are apparently close to an agreement. In describing what Ford workers are being asked to give up, Bunkley wrote the following (bolds are mine…

How well I remember it. In April 2006, when Bob Carter, in a UK Telegraph op-ed, observed that there had been no warming of the earth since 1998, global warming advocates screamed that Carter didn't know what he was talking about; that he was only "a geologist at James Cook University, Queensland, engaged in paleoclimate research," not a real climatologist; and that anyway, the science was…

As if the Fannie Mae and Freddie Mac (Fan and Fred) crackups weren't bad enough, IBDeditorials.com noted on Thursday evening that another bad-mortgage shoe is about to drop. This time it's at the Federal Housing Authority (FHA). First, let's revisit Fan and Fred to remind readers just how complete the disaster has been at these decades in the making Democratic crony-controlled entities. A…

Wednesday’s CBS Evening News With Katie Couric and Thursday’s Early show completely ignored any mention of the fact that the deficit has risen to a staggering $1.4 trillion, triple what it was a year ago. The Early Show, however, did find time to report the incredibly important news that Levi Johnston will be posing for Playgirl. Just one year ago, on October 7, 2008, Katie Couric made sure to…

With President Obama seeking to nationalize more and more private industry, Michael Moore promoting his latest socialist agit-prop and the left gleefully proclaiming the death of capitalism, a documentary special airing tonight offers a welcome antidote.“The Power of the Poor with Hernando de Soto” airs Oct. 8 at 10:00 pm ET on PBS. Produced by Free to Choose Media and funded by the John…

It isn't often that one can see two decades of history re-written in under ten minutes.  But such was the occasion on this morning's episode of Morning Joe. Max Blumenthal, author of "Republican Gomorrah: Inside the Movement that Shattered the Party," spent his time on the show demonstrating the combined power of cognitive dissonance, wanton ignorance, and a willingness to re-write historical…

No, that's not a made-up headline. The foreclosed and/or evicted homeowners that have played such a role in the current economic meltdown - are they irresponsible borrowers that lived beyond their means or are victims that got swindled? Michael Moore is clear on where he thinks they fall. Moore matched up with Fox News and conservative talk radio host Sean Hannity on Hannity's Oct. 6 program…