Economy

Repent, all ye owners of Suburbans, thou drivers of Explorers.  Mend thy ways, ye Escalade-loving louts!  Take heed of the warning the prophet Mika has vouchsafed unto you: greedy thou art; verily, destroyers of the environment be thee!Oy.  Mika Brzezinski was on quite a roll this morning.  On the one hand, free-marketers would find much to agree with in Mika's arguments.  As noted here yesterday…

Joe Scarborough didn't cotton to being called a "socialist," but that's just the label Krystia Freeland laid on him during today's Morning Joe.  The Financial Times editor used the s-word to describe what she mockingly described as Joe's "touching faith" in the wisdom of government bureaucrats when it comes to reorganizing Detroit automakers.The Morning Joe host didn't take the insult lying down.…

In today's "You've Got to be Kidding Me" moment, the San Francisco Chronicle advocated that folks who owe more on their mortgages than their homes are worth should stop making payments so they can qualify for a government bailout.I'm not kidding.Disgustingly titled "Are You an Idiot to Keep Paying Your Mortgage," the article actually instructed readers upside-down in their real estate the ins and…

It appears being bestowed a Nobel Prize for economics doesn't improve one's economic acumen, for in the course of roughly 60 seconds Sunday, Paul Krugman said Franklin D. Roosevelt's decision to raise taxes in 1937 deepened the Depression, but it's okay to raise taxes 70-plus years later when the economy is in trouble.Interesting contradiction, wouldn't you agree?What precipitated this bizarre,…

Earlier today, Christopher Booker at the UK Telegraph noted a "surreal scientific blunder," followed by an attempted cover-up, that should cause everyone to question the source's past and future credibility. The source of the shoddy work is NASA's Goddard Institute for Space Studies (GISS), the outfit run by world champion globalarmist James Hansen. Hansen has in the past stated that "heads of…

In the name of gender equality, the Today show plumped this morning for government regulation forcing health care insurers to charge men and women the same for individual policies even though women cost insurers more because of greater use of services.  Hasn't the financial crisis taught the MSM anything about the danger of government meddling in markets? No. Insurers wind up paying out more in…

Well, I guess that settles it. We don't need any political discussion or economist's studies. The auto industry officially needs a bailout. It's just a fact. After all, MSNBC and BusinessWeek have just said it. The auto industry "needs" one or it cannot survive. Oh, yeah, and MSNBC is also informing the world that Republicans have told auto workers to "drop dead." I think this is what the Old…

Earlier today, in a story on falling oil prices, Mark Williams of the Associated Press bemoaned "evaporating" consumption, warned that the abrupt prices drop would cause a decline in exploration, and cited the need for trillions of dollars of investment to find more fossil fuels.Contrary to or not in what Williams wrote: Consumption has barely fallen.The American electorate has chosen a new…

So what exactly is the government doing with your money? Fox Business Network's Alexis Glick would like to know. Treasury Secretary Henry Paulson announced Nov. 12 he would be redirecting the $700 billion bailout to focus on propping up financial institutions instead of buying troubled mortgage assets, which was the original intent of the rescue plan. Glick, the host of FBN's "Money for…

Can I have permission to utter the S-word ("socialism")? Ken Thomas's Associated Press report today (link is dynamic, subject to change, and will probably be gone in a week) on auto industry bailout ideas emanating from Washington includes these items, all of which expand soc- ... soc- ... socialism: Legislation proposed by Barney Frank involves the government taking ownership stakes in the…

Wednesday evening's dour Associated Press report by Tom Krisher and Ken Thomas on the proposed bailouts of General Motors, Ford, and Chrysler acted as if their fates will determine the viability of the entire US auto industry, and waited until the 15th paragraph to name the primary reason why the companies are where they are financially. Beyond that, the AP report did not mention that United Auto…

It's not like Barack Obama is a socialist or anything. It's just that Thomas Friedman wants him to put a "government master" in charge of the country's biggest manufacturing sector. Friedman made his modest proposal in his New York Times column of today, and expanded on it during a Morning Joe appearance. [H/t reader Tom.]Video also available here.I've got three easy reasons why Friedman's idea…

Well, they held out as long as the could. But now that the presidential election is over, layoffs in the news business have begun.Newsosaur predicted as much on the Sunday before the election, and pointed to a major reason:Public confidence in the mainstream media has been eroding for at least a decade. The Pew Research Center for the People and the Press reported that only 19% of respondents…

During a segment on Tuesday’s Newsroom program, CNN anchor Rick Sanchez asked South Carolina Governor Mark Sanford if the Republican needed to abandon its social conservative principles in order to be successful again: "Do you have to be anti-abortion, because that's a very important, big topic in the South..?" Sanchez later asked the Republican governor, as well as talk show host Neal Boortz, "…