Economy

On Sunday’s CBS "60 Minutes," anchor Steve Kroft interviewed Hillary Clinton and Barack Obama, along with a small group of Ohio Democratic voters who, as Kroft explained: "told us that both race and gender would be hidden factors in southern Ohio, that many blue collar workers here won't vote for a woman, and others would never vote for a black." Kroft went on to focus on Obama: "And Senator…

On Wednesday, Associated Press Business Writer J.W. Elphinstone used a curious definition of "narrow" to emphasize the importance of a home-price measurement index that only looks at the country's largest metro areas, while minimizing the significance of one that catalogs virtually the entire USA -- all apparently done to create an overwrought portrayal of home values as being "in freefall."…

BMI Vice President Dan Gainor took to the Fox Business Network Thursday to explain the difference between "depression," "recession" and "slow growth," terms the mainstream media has blurred.Economists "don't even agree that we're in a recession yet," Gainor said. "But then if you watch the network news shows, we're already up to eight times this year - that's once a week where they've made a…

They're starting to get it. The media are figuring out government meddling in U.S. energy policy is taking a toll on the American economy. On February 20, the Labor Department reported that the Consumer Price Index (CPI), a key inflation reading, rose 0.4 percent in January, matching December's rise. Why? Increased food costs because corn is being used for ethanol. "Farmers are replacing…

What follows is coverage of the February 28 presidential news conference. I focused mostly on the questions posited by the media. Video of the most biased questions should be posted shortly thereafter. Bottom line: Most of the really biased questions came down on the economy, particularly with regard to gas prices. Other than that and a question by Bill Plante about FISA immunity for telecom…

Nothing like the cheery decade of the 1970s - disco dancing, "Animal House," Farrah Fawcett and the buzz word reincarnated by the media - stagflation. After a disappointing spike in inflation, the producer price index (PPI), by 1.0 percent in January, and a rise in core inflation (with food and energy costs excluded), rising 0.4 percent on Tuesday, the media have deemed it necessary to sound…

For years, NewsBusters and the Business and Media Institute have informed readers about how the press, since George W. Bush was first elected, have tried to create a self-fulfilling prophecy by misrepresenting economic data in as negative a way as possible.This is likely the cause of the public's continued pessimism about economic conditions even as the economy has expanded for 25 consecutive…

Old Media coverage of government budget difficulties usually focuses on the here and now, and all the "tough decisions" that have to be made. Seldom is there ever an examination of how a state or local government entity got into its current fix. Scratch just a little bit beneath the surface, though, and you'll almost inevitably find that an annoying habit of overspending during the good times…

It's an extraordinarily clever claim. It gets your attention. It's misleading. And of course, Old Media isn't questioning it. I am referring to the following statement made by Barack Obama in radio ads currently running in Ohio and Texas: Some CEOs make more in 10 minutes than some American workers make in a year. In the full context of the ad, I believe that what Obama wants listeners to…

During the four weeks preceding February 20, New York Times Company stock had been staging a nice comeback. Lord only knows that the company's long-suffering shareholders, who before then had seen the share price drop more than 70% since June 2002, a point in time that roughly coincides with the onset of the Old Gray Lady's seemingly intractable case of Bush Derangement Syndrome, welcomed any…

Perhaps the average New York Times reader makes $250,000 a year, but the average American family? Not quite.And yet the Times, and its media colleagues, continue to feature sob stories from rich families in stories supposed to illustrate the pain the housing “crisis” is causing for middle- and lower-income families. “Not since the Depression has a larger share of Americans owed more on their…

With the symbolic passing of the torch - from Fidel Castro to Raul Castro - comes hope of changes in Cuba, well at least among some in the media. Even though no one is predicting Cuba to usher in a new wave of Adam Smith-style capitalism, there might be some changes according to ABC's "World News with Charles Gibson." "[H]e's talking about significant reforms - liberalizing trade, economic…