Economy

During the presidential campaign, we constantly heard from Team Obama and the media (excuse the redundancy) was how Republican-inspired deregulation had let evil bankers and capitalists run roughshod over the economy and created the current credit mess.Well, a lot of the deregulation was GOP-inspired, but that isn't what caused the situation that I like to refer to as The Great SUCKUP (The…

Transcript from press conference of Pres. Barack Obama, Feb. 12th, 2011: CNSNEWS.COM: Mr. President, when you first took office you promised to create 2.5 million jobs by January, 2011.  But the Labor Department report issued yesterday indicates that in fact 1.7 million jobs were lost during that period.  Why did your plan fail?PRES. BARACK OBAMA: Ah, but it didn't fail. To the contrary, we…

Neil Cavuto and Ben Stein had quite an argument about bailouts on FNC's "Cavuto on Business" Saturday morning that nicely covered the issues people on both sides of this contentious debate will likely be discussing around dinner tables this Thanksgiving, though hopefully with less screaming:

Though given a perfect opportunity to do so, Tom Brokaw on Sunday chose not to discuss the similarities between Franklin D. Roosevelt's refusal to work with President Herbert Hoover on solving the Depression before he was inaugurated in March 1933 and president-elect Barack Obama doing the same thing today with George W. Bush. For those not familiar with the historical reference, the financial…

In an MSM eager for the advent of the Age of Obama, Kate Snow may have taken the cake.  The weekend GMA co-host almost sounded as if she were calling for some kind of coup d'etat, musing whether Obama should be urgently "forcing" change before he takes office. How over the top was Snow?  She had to be talked down from her fin de regime fantasy but none other than . . . Paul Krugman.ABC reporter…

Fox Business Network anchor Alexis Glick is frustrated by the way the government's $700 billion financial bailout is being used, and suggested on "Money for Breakfast" Nov. 21 that it was contributing to market declines. "I mean, look, we are now at levels at least on the S&P that we haven't been since 1997. You know, people are pretty unhappy with how the TARP fund is going," Glick said…

Practically rubbing his hands in glee, Time magazine's Joe Klein exulted yesterday over Michigan Rep. John Dingell (D) losing out to the more liberal Rep. Henry Waxman (D-Calif.) for control of the powerful House Energy and Commerce Committee.Apparently Klein is happy that under Waxman the committee will succeed in decreasing both domestic energy and commerce with fresh, strict regulations on…

In other words, they would have to pay you to take what is rapidly becoming Manhattan's quaint little alternative newspaper off their hands.Yesterday, New York Times Company stock closed at $5.72. That is, by far, its lowest close in the 22 years presented in this chart at Yahoo!: Before today's opening bell, the company is worth $822 million,Using conservatively adjusted numbers from a…

Remember the years of media flak President George W. Bush received for his alleged use for political gain of first the terrorist attacks of September 11, 2001 and then the related Afghanistan and Iraq Wars? Will the press be as vociferous now? Incoming Obama Administration Chief of Staff Rahm Emanuel, speaking on Wednesday on and to the Wall Street Journal Digital Network, stated outright his…

Hypocrisy, meet Ed Schultz ... What's this, you're already well acquainted? The nation's top-rated liberal radio host has spent plenty of time this month pitching in favor of the feds lending $25 billion to the ailing Big Three automakers.Schultz has also been bellicose toward those who disagree with him, singling out Republican Senator Richard Shelby of Alabama for scorn. Here's what Schultz…

Pulitzer-Prize winning author and professor of history at Stanford University David M. Kennedy told Bloomberg radio Nov. 18 that the current financial crisis bears no comparison to the Great Depression. "Well, we're not yet in anything remotely resembling the crisis, the scale of crisis of the Great Depression." When Franklin Roosevelt took office in 1933, 13 million Americans were unemployed…

The media's outrage over AIG's most recent conference at a resort in Phoenix - after being bailed out by the federal government - has led politicians to call for more oversight of the company and its spending. But according to entrepreneur and Business & Media Institute columnist Dan Kennedy, the outrage is misplaced. But the furious news segments glossed over the fact that the company's…

Barney Frank favors bailing out the Detroit automakers over letting them go into bankruptcy.  Chief among his concerns is that bankruptcy might "bust" the unions. You know, those organizations whose contract demands have put Detroit on the brink of extinction.The Massachusetts Dem, chairman of the House Financial Services Committee, was interviewed by Maggie Rodriguez on today's Early Show. He…