Economy

Is it just me, or is the Associated Press's Jeannine Aversa doing an end-zone dance because she thinks that the recession Old Media has been pining for has finally arrived? Someone needs to remind her that one negative quarter, if it even occurs, does not a recession make. In an early-Saturday story on the economy, Aversa treated the recession as a lock in her first paragraph, even though the…

Like characters in a Currier & Ives scene, a gentle snow has covered the Clintons. Make that a gentle Snow . . . On yesterday's Hardball, Chris Matthews, smelling a rat, was livid when he learned that the Clintons had failed to file or release their 2007 tax return. But on today's Good Morning America, Kate Snow managed to make a silk purse out of the sow's ear of the Clinton's delay. Far…

Did you know that 574,000 and 1.1 million more Americans had jobs in March than in February and January, respectively? Seriously, as you can see on the right (data can be retrieved from this BLS page; select the very first "not seasonally adjusted" table). Now the fact remains, as you can also see, that job growth during the past two months is nowhere near as great as it was during the same two…

In a pointed news release, the White House has punched back at the tendentious “White House Memo” by Sheryl Gay Stolberg that appeared on the front page of Thursday’s News York Times. Headlined “Setting the Record Straight: The New York Times Mistakes Its Own Blindness for Presidential ‘Invisibility’,” the White House press office notes even more factual flaws and omissions than reported…

Touting a new CBS News/New York Times poll on Friday’s CBS "Early Show," co-host Maggie Rodriguez teased an upcoming segment on the poll’s findings: "Is America broken? In a new CBS News poll, 81% of Americans believe this country's on the wrong track. Never has that number been so high." Co-host Harry Smith later introduced the segment by declaring: "A new CBS News/New York Times poll shows 81%…

As economic issues move to the front of the on-going presidential campaign, the mainstream media have given an increased amount of coverage to what is happening on Wall Street. However, they have portrayed Wall Street as something completely alien to what happens on "Main Street." "Now to Wall Street, which, as you know, doesn't always like what Main Street likes, and by the end of the…

In a news brief on Thursday’s CBS "Early Show," co-host Russ Mitchell reported: "Homeowners struggling to pay the mortgage may soon be getting help from Congress -- Congress, rather, but efforts may fall short." Correspondent Wyatt Andrews went to explain why the measures may not help enough people: "Senate leadership believes it finally has a tentative deal in place to help some, but certainly…

Many media outlets have hyped projected 2008 food stamp usage as a “record high,” but as FNC's Brit Hume pointed out Wednesday night in showcasing a particularly misleading take in The Independent in London, a higher percent of Americans were on food stamps “back in the Clinton years.” Hume showcased the London paper's Tuesday front page headline, “United States of America 2008: The Great…

The April 1 Independent story about a looming "Great Depression" in the United States was positively risible. But as Jim Geraghty at National Review Online noted yesterday, the stark-looking photo for the paper's story (at right via Getty Images) was three years old.:Their caption: "Disadvantaged Americans queue for aid in New York."Here's the actual caption from Getty Images:

CNN correspondent Dana Bash, during an interview of Senator John McCain which aired on Tuesday’s "The Situation Room," raised the issue of whether the Republican presidential candidate felt voters’ pain on the economy. "[I]n this time of uncertainty, when there are so many people hurting, are you concerned that there are voters out there who hear that who say, John McCain is heartless when it…

Business & Media Institute Managing Editor Amy Menefee appeared on "Fox & Friends" on April 2 to discuss the media's involvement in sparking recession fears. Rescuing viewers from "solid recession talk," Menefee said that specifically network news reports already "have gone far beyond recession, they are already concerned about a depression." "They're not tell-they're not…

Wall Street saw a 391-point rally on the Dow today, the first day of the second quarter. ABCNews.com saw the development worthy of a "Breaking News" tag towards the top of its Web page and put the story in the top headlines rotation.But it appears that ABCNews.com was alone among its competitors in trumpeting the news. I checked numerous Web sites shortly after 5:30 and found ABC's to be the only…

The Institute for Supply Management issued its March Manufacturing Report on Business today: PMI at 48.6% Economic activity in the manufacturing sector failed to grow in March, while the overall economy grew for the 77th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®. The report was issued today by Norbert J. Ore, C.P.M., chair of the…