Economy

Hugo Chavez and Mahmound Ahmadinejad attended the OPEC summit, where they said the fall of the dollar is a sign that "the U.S. empire is coming down."

*****Update at end of post includes detailed response to unhappy e-mail messages concerning this subject.As someone that has done a lot of economic writing and financial media analysis, I'm used to gloom and doom from journalists. However, Saturday's Associated Press article concerning the credit crunch and how it's impacting the mortgage market could be the worst example of economic and…

For years one of the great unanswered questions along Main and Wall streets has been why, in the midst of 24 consecutive quarters of uninterrupted growth, polls have regularly found Americans sour about the economy. On Tuesday, a battle between the New York Times liberal economics columnist Paul Krugman and WOR radio's Steve Malzberg offered a clue. In fact, after 16 minutes of sparring on…

Don't you love it when you find out that leading political figures in America think just like you? Before you answer, consider a recent comment made by former House Majority Leader Tom DeLay about the New York Times "economic" columnist Paul Krugman.Due to language that might offend some, the actual quote comes after the break. However, let's just say that as reported by the Washington Examiner'…

Here's what a CNN e-mail I received said when the news was first released: Here's how the headline at the home page turned out mid-morning:

According to ABC anchor Diane Sawyer, a new Oklahoma law making it a felony for U.S. citizens to knowingly provide shelter or transportation to illegal immigrants goes "across the line," "too far," and turns people into "vigilantes." Interviewing Lou Dobbs, CNN host and noted opponent of illegal immigration, on Tuesday's edition of "Good Morning America," Sawyer appeared to be aghast at what she…

What is it with the MSM and their fetish with worrying so much about everyone but Americans? For the L.A.Times, for instance, even the weakness of our dollar is cause for worrying over how bad it is for... wait for it... foreign companies. While our dollar weakens and could perhaps bring us major economic trouble, the L.A.Times shows serious concern and laments that the soft currency crisis is…

The Oil Prices That Stole ChristmasOn Tuesday, "Good Morning America" reporter Bianna Golodryga hyperventilated about high gas prices and highlighted a man who alleged that the cost of fuel is keeping him from going to church and that it could ruin Christmas. Golodryga piled on, suggesting that some Americans would be forced to eat "cheaper foods" such as pasta and peanut butter instead of fruits…

The Anchoress, a three-time Weblog Awards finalist and 2007 Catholic Blog Awards Winner (congratulations!) in the Best Political/Social Commentary category (scroll down at link to see it), delivered a cold but necessary shower earlier this evening to those of us who are tempted to exaggerate or overstate the impact New Media is having on most Americans. I'll bet that a lot of us can relay similar…

Uh oh, it's that time of the month again. Once a month, California-based RealtyTrac releases national foreclosure statistics and once a month, all three networks manage to overlook details in their reporting. But, this time, ABC's "World News with Charles Gibson" got it completely wrong.From the November 14 broadcasts:

It seems like every day, the media complain about high gas prices. But it is not often that you hear that someone was so angry about pump prices they sent a death threat to an oil CEO.According to CNN's November 15 "American Morning" Shell president John Hofmeister has not just gotten hate mail.“Pretty brave that you decided to do this, you know you were heading out on tour, you didn’t just get…