Economy

Former Secretary of State Madeline Albright has been in the public eye as of late out promoting her latest book and attacking the Bush administration on everything from global warming to globalization. So much so, that the Republican National Committee has fired back in kind. Albright appeared at a Barnes & Noble in the Georgetown neighborhood of Washington, D.C. on January 9 to discuss…

This is worse than a case of calling a glass "half-empty" when it is "half-full." This is like taking the glass and pouring it out. Deirdre Bolton, an anchor for Bloomberg TV, appeared on CBS's January 9 "The Early Show" to report on a survey of economists Bloomberg conducted January 3-8 about whether or not a recession is in the immediate future of the U.S. economy. "[W]ell, as you said the…

It took a couple of tries, but CNN "American Morning" co-anchor John Roberts got Democratic presidential hopeful Barack Obama to admit what people probably already knew - Obama wants to raise taxes. Obama appeared in an interview with Roberts on the January 9 "American Morning" fresh off his second place finish in the New Hampshire Democratic primary. He told Roberts high taxes were in the…

California Gov. Arnold Schwarzenegger (R) is proposing a new insurance surcharge to plug a budget gap that conservative critics are calling a tax. And objectively speaking, it really is a tax. But the L.A. Times was careful to avoid attributing the T-word to the idea.Here's the teaser from the Times Web site's front page:Gov. urges levy on insuranceBy Marc Lifsher and Evan HalperPlan calls for 1…

You'll have to pardon me for just noticing this. It is after all, only Newsweek. January 5, 2008 Economy Unemployment hits 5 percent. Can you say the R-word? Of course, as fellow…

Got some hot stock plays for 2008? CNBC's David Faber thinks you should factor in the recession that hasn't yet happened when you adjust your portfolio for this New Year. CNBC "Squawk Box" contributor Faber warned investors on the January 7 "Squawk on the Street" that stocks reliant on business spending could hurt since a recession, he said, is imminent. "Business spending, concerns about…

A few months after cheering Martin O'Malley's successful push for tax hikes, the Washington Post's John Wagner is lamenting the Democratic governor may have to settle for a "modest" agenda in 2008 due to budget constraints.Don't hold your breath for similar concern about everyday Marylanders and how they may have to settle for more modest spending thanks to tax hikes, particularly a boost in the…

I've said this before, but it merits saying again: We'll know that the news we're fed every day by the wire services, "newspapers of record," and TV networks is fair, accurate, and complete when those in search of the full picture no longer have to go to the editorials of the Wall Street Journal and Investors Business Daily to fill in Old Media's yawning information and coverage gaps. Among the…

Fred Thompson today blasted the media for propagating a false rumor about his impending withdrawal, while reinforcing the role he has created for himself as the candidate in this race who does not suffer unwelcome questions gladly. Back in Iowa, Thompson famously refused to respond to the debate moderator/school marm's demand for a hand-show on global warming. On this morning's Today, he…

The returns are in for car company sales, both for December and all of 2007 (first figure is December, second is for full year; sources are here, here, and here): - GM: -4.4%, -6.0% - Toyota: -1.7%, +3.1% - Ford: -9%, -11.8% - Chrysler: +2%, -3.1% - Nissan: -2.4%, +4.8% - Honda: flat, +2.8% Toyota is listed second for a reason that would have been almost unthinkable three years ago (bolds are…

The economy is about to dive off a cliff and it's all President George W. Bush's fault, according to The New York Times editorial board. A January 2 Times editorial was pretty pessimistic about the economy in 2008, mocking Bush and forecasting doom. "As 2008 begins, house prices are still skidding, bank losses are still mounting, oil is again flirting with $100 a barrel and consumers are…