Economy

The wires services and the rest of the Old Media have also been reporting on a scandal that doesn't have to do with Illinois Governor, Rod Blagojevich. But, like the Blago story line, the media seem to be forgetting one small aspect of the story of Wall Street rip off artist Bernard Madoff. Like Blago, Madoff's connections to the Democrat Party seem to be of little interest to the media. Very…

To the extent the MSM has been willing to report on the disadvantage under which the Big Three automakers operate compared to their non-union competitors, the focus has been on the huge wage differential. On this evening's Fox News Watch, conservative columnist Jim Pinkerton highlighted another issue which has gone largely unreported in the liberal media: the onerous union work rules that add…

Though there's not a ruble's worth of difference between their politics, I normally find Rachel Maddow a kinder, gentler, smarter version of Keith Olbermann.  Not tonight.  Granted, the Countdown host was on hiatus.  But even if Olby had been around, he would have been hard-pressed to outdo Maddow for sheer silliness.The preposterous proposition Rachel propounded?  Republicans just don't want…

Let's hope we haven't seen the last of economist Peter Morici on CBS.  The University of Maryland business professor, appearing on the Early Show this morning, put the blame for the failure of Big Three bailout squarely on the shoulders of the UAW for its refusal to accept pay cuts putting its members on par with non-union workers at US plants owned by foreign car manufacturers.  The Early Show…

The first two paragraphs of a recent Salon Magazine piece by Michael Lind on Obama's plans for America's future are striking for the utter lack of any relationship whatsoever between them. The lack of cognitive dissonance between them is amazing but easily proves that liberals don't have the first idea what an economy is. This Salon piece is proof once again of the stark difference between…

Poor, poor Gideon Rachman. The Financial Times's chief foreign affairs columnist and blogger can't understand why people got so upset at him.He responded to a volume of disagreeable e-mails reacting to his December 9 column on the idea of having one world government in two different blog posts (the photo at the top right is from his blog): "Covered in Internet Slime" (December 10) and "Final…

President-elect Barack Obama named Carol Browner the "czar" of climate and energy policy for the White House, but CNBC's Joe Kernen was wary of her appointment. "You can see that even in Europe, some of the climate concerns, given this, this once in a lifetime recession, John - to put someone that, an advocate of such strong measures," Kernen said on "Squawk Box" Dec. 11. "Really I've seen her…

During an interview on CNN’s “No Bias, No Bull” program on Tuesday, New York Times columnist Thomas Friedman expressed his confidence in President-Elect Obama’s “vision” for environmental policy and urged that the future executive be given “means...that are as radical as its ends” to carry out this policy: “...[I]t’s great to say we’re going to have green jobs and green homes and green-collared…

In an article heroically chronicling the efforts of 200 union workers "occupying" their old window and door factory the Associated Press made sure to emphasize how the squatters have given the nation's grim economy a "rallying point." Here is how they introduced the story (emphasis added): The nation's grim economy now has a rallying point: Employees at a window-and-door factory that went out of…

Promise, or threat?  John Harwood declares "the New York Times isn't going anywhere."  The Times correspondent, who also toils for CNBC, made his unconditional claim on today's Morning Joe in response to Joe Scarborough's envisioning of a future in which major news organizations, including the Times, might disappear. Scarborough was concerned that the public would be deprived of the media's…

The Washington Post is directing a December 8 plea to the incoming Obama administration. The Post wants to raise the federal gas tax so high that it will stop people from driving. The Post thinks this will serve our national security purposes and add more money to rebuild our nation's roads. Apparently, the Washington Post has the foolishly mistaken notion that federal gas tax receipts actually…

At the top of Monday’s CBS Early Show, co-host Harry Smith teased an upcoming story about a protest by laid off workers at a Chicago factory: "Fighting back, workers stage a protest after being laid off, refusing to leave their Chicago factory until their demands are met...We'll take you there live and hear what they're fighting for." Later, co-host Maggie Rodriguez interviewed Leah Fried of the…

If print is becoming journalism's dying backwater, Paul Krugman isn't showing it. In a Dec. 6 interview in Stockholm, Sweden, the Nobel Prize-winning New York Times columnist told the ironically named Adam Smith, editor-in-chief of Nobelprize.org, that he found himself more effective in his role at the Times lately He said he was more influential in shaping policy as a journalist than he would…

On his syndicated "Chris Matthews Show" on Sunday, Chris Matthews seemingly sought to do his self-proclaimed "job" of making sure Barack Obama's administration is a success by featuring a panel of guests who praised the incoming team and the President-elect's ability to use his political capital to pass "big packages to avert a depression." There was only twelve seconds of negativity about Obama…