Economy

A new poll released Wednesday gave extraordinary evidence as to how continued negative reports from a bearish media have impacted the public’s view of the economy. As reported by Reuters (emphasis added): Two-thirds of those surveyed, 66 percent, said the direction of economic policy was fair or poor. Yet, these same folks are very optimistic about their own economic condition:

When Matt Lauer introduced a segment on the booming stock market by asking "is the rising tide lifting all boats?" I braced myself for another MSM excursion into class warfare. But surprise, surprise . . . CNBC's Erin Burnett narrated the segment, and her opening also made me figure we were in for more bash-the-rich rhetoric. "Another day, another record on Wall Street . . . As stocks rise…

The meme: Income inequality during the Bush Administration has widened, as the rich have gotten ever richer. A sub-meme: Income inequality during the previous administration lessened, or at least didn’t get any worse. But facts are stubborn things, as information obtained from the Census Bureau and viewable at the full post shows (scroll down at the link to get to inflation-adjusted data):

On today's "Your World with Neil Cavuto," the host devoted a portion of his mailbag segment to viewers from across the fruited plain telling Cavuto of their local media outlets had ignored or downplayed yesterday's stock market closing. Cavuto noted that in contrast, a large market correction in February was blared on the front pages of the nation's largest broadsheets. Video (2:26): Real (1.77…

A new stock market high is good news, right?“In stock market terms alone, this is now the longest consecutive uninterrupted stock market rally,” said Lawrence Kudlow on MSNBC’s “Morning Joe” on July 13.“It started in early 2003, so that’s four and a half years. And it’s incredible how much wealth is being created out there and it’s unfortunate, really – almost tragic – that the president just…

Apparently, “CBS Evening News” thinks it shouldn’t be your responsibility to remember to balance your checkbook. Anthony Mason’s July 11 report bashed banks for *GASP* profiting from overdraft fees.“Banks are cashing in on overdrafts, raking in more than $17 billion in fees last year, according to the Center for Responsible Lending” said Mason.The segment, called "Hidden Charges," did not include…

Here’s something you don’t see every day: a member of the mainstream media blaming high gas prices on somebody other than President Bush or Vice President Cheney.Better strap yourselves in, for the culprit is truly shocking.Not only did Wednesday’s Washington Post deflect responsibility for the rise in prices paid at the pump away from the White House, much of the blame was actually shifted to –…

Today's release of the Institute for Supply Management's Non-Manufacturing Activity Report, which measures business conditions in the 86% of the economy other than manufacturing, came in with a reading of 60.7, after recording a 59.7 last month. As has been customary, the report whipped the pants off of "expectations." This Thomson Financial article at Forbes predicted a decline to 58.1 instead…