Economy

The lesson from this post isn't bias as much as it is making sure not to get taken in by Old Media overreactions. Jim Cramer of CNBC's "Mad Money" went mad on Friday, declaring Armageddon in this video rant on Friday (watch the whole thing to see just how out-of-control he was; his declaration is at 1:40 in the vid -- "in the fixed-income markets, we have Armageddon."). The first trading day…

This is NOT from The Onion. It's from the Associated Press via USA Today ("Bloggers consider forming labor union"):CHICAGO — Do bloggers need their own Norma Rae?In a move that might make some people scratch their heads, a loosely formed coalition of left-leaning bloggers are trying to band together to form a labor union they hope will help them receive health insurance, conduct collective…

If summer heat and drought were jeopardizing crops in the Midwest, would a climate change obsessed media be having a field day (pun intended) reporting the news whilst connecting it to manmade global warming? 24 hours a day, seven days a week, right? CNN, ABC, CBS, and NBC would likely have correspondents in the cornfields giving daily updates about the gravity of the situation. Yet, further…

Runner Up One of the Associated Press's earliest articles following Friday morning's release of the government's Employment Report, which showed July's unemployment ticking up 0.1% to 4.6% and new jobs increasing by 92,000, had this outrageous paragraph (backup link is here in case the article is revised or removed; bolds are mine): Construction companies slashed 12,000 jobs in July.…

If all else fails – blame the housing market. It works for NBC.This time a struggling housing market is the reason auto sales are struggling. The week before, it was responsible for the drop in the Dow Jones Industrial Average.   Good thing “Nightly News” is focusing on global warming solutions or the network might even try to pin that on the housing market.“Even Toyota sales fell and blamed a…

A bridge in Minnesota tragically collapsed Wednesday killing an unknown number of innocent people. As reported by the Associated Press: The eight-lane Interstate 35W bridge, a major Minneapolis artery, was in the midst of repairs when the bridge buckled during the evening rush hour Wednesday. Dozens of cars plummeted more than 60 feet into the Mississippi River, some falling on top one of…

Here's the opening of today's Associated Press report about the July Consumer Confidence Index (bolds are mine): Consumer confidence hit a six-year high in July, a widely watched gauge of sentiment showed on Tuesday, as Americans shrugged off falling home prices to focus on a healthy jobs market, instead. The New York-based Conference Board said that its Consumer Confidence Index, rebounded to…

Expanding on Media Research Center's July 30 CyberAlert and a similar post at NewsBusters (bold is mine): Nets Barely Notice Surge in GDP as They Focus on Dow Plunge The ABC, CBS and NBC evening newscasts on Friday all devoted full stories to the fall in the stock market, touted as "the worst two-day point drop for the Dow in five years," but barely had time for a sentence about the 3.4 percent…

Last week's economic report couldn't have been much rosier. The economy grew at a faster-than-expected rate, faster than any time in over a year. But far from sparking runaway prices, inflation actually moderated. But that didn't stop the Axis of Gloom, AKA the New York Times and its Beantown subsidiary the Boston Globe from publishing op-ed items this morning finding the cloud on the silver…

The ABC, CBS and NBC evening newscasts on Friday all devoted full stories to the fall in the stock market, touted as “the worst two-day point drop for the Dow in five years,” but barely had time for a sentence about the 3.4 percent second quarter jump in the GDP, the biggest in over a year. In fact, neither ABC nor NBC cited the specific 3.4 percent rise in the Gross Domestic Product, the measure…