Recession

On Monday, the Institute for Supply Management's Manufacturing Index for December came in showing contraction for the second consecutive month, and with a slightly worse reading (48.2 percent, versus 48.6 percent in November; any reading below 50 percent signifiies contraction). These two results followed readings which just slipped over the expansion bar (50.2 and 50.1 percent, respectively) in…

Media bias is hydra-headed in its perniciousness.  It operates on many levels - in many ways.  One of its practitioners’ favorite moves is the terrible headline.  In which they knowingly - or unknowingly - tip their hand on the story at hand.  These heinous headlines can effectively work to sway casual, drive-by media consumers - who don’t go deep into multiple articles to get a more fully-formed…

In his most recent Washington Post column, Fareed Zakaria, who also works at CNN, told readers that "working-class whites" can no longer handle the fact that they're not an "elite group" any more, and that this loss of status explains an alarming increase in suicide in their ranks. Supposedly, these people support Donald Trump because his "Making America Great Again" is about putting them back on…

This week, the Associated Press wrapped up a year of largely pathetic business reporting with three items exemplifying the wire service's habits of data-twisting, sloppiness, and convenient omissions. A deceptive AP post-Christmas story pretended that Christmas-season "spending" was twice as high as anyone else has predicted. A report on pending home sales omitted a concerned comment from a…

The desperation is palpable at the Associated Press, aka the Administration's Press, over how the Christmas shopping season is going. Having appearently learned something contrary to the "consumers will catch up with their spending" we've been hearing from the National Retail Federation and others so far, AP Business Writer Joyce M. Rosenberg shifted gears and decided that consumers are spending…

For an understanding of just how weak the business press's understanding of economic fundamentals is, look no further than Paul Wiseman's brief "coverage" at the Associated Press Wednesday of the Federal Reserve's awful Industrial Production. The Fed reported yesterday that industrial production fell by 0.6 percent in November on top of a revised -0.4 percent (down from -0.2 percent) in October…

On Wednesday, The New York Times posted an article by reporter Robert Pear calling out Marco Rubio for taking the pen to Obamacare in the budget legislation from last year. On Thursday, it appeared on the front page with the headline “Rubio Measure Delivered a Blow to Healthy Law.”

In the middle segment of Wednesday’s CBS Evening News, the newscast promoted a new Pew Research Study that illustrated the decline of the middle class in the years since the Great Recession to the point that, as anchor Scott Pelley highlighted, “[t]he middle class is no longer the majority in America.” Of course, as the liberal media naturally does, they neglected to include any placement of…

On Wednesday, the Associated Press's Josh Boak added to the wire service's collection of weak "Getaway Day" business journalism by declaring that new-home sales "recovered in October." No they didn't. The seasonally adjusted annual rate of 495,000 units reported by the Census Bureau was the fourth-lowest monthly level seen this year, even well below the 521,000 and 545,000 reported in the…

Call it the triumph of the "new normal." At Reuters today, after today's first revision of third-quarter gross domestic product showed that the economy grew by an annualized 2.1 percent, up from the late-October estimate of 1.5 percent, reporter Lucia Mutikani and Editor Paul Simao demonstrated that they have completely given in to the artificially lowered expectations of past seven miserable…

Japan's two-decade romance with Keynesian economics has led to another betrayal — and yet the press and all the supposedly smart economists and analysts seem to believe that just one more fling might bring about a different result. The Land of the Rising Sun, aka the Land of the Two-Decade Zombie Economy, has just reported an annualized contraction of 0.8 percent in the third quarter. The…

The "fact-checking" press has become a parody of itself during the past several years. It's not only because of their irritating penchant for putting statements by Republicans and conservatives under a twisted microscope while ignoring drop-dead obvious falsehoods delivered by Democrats and leftists. It's because, among other things, the fact-checkers often admit that a statement is true, but…

The political definition of Cronyism is: government policy that favors one or more specific beneficiaries - at the expense of everyone else.  To wit: $80 billion of the 2009 “Stimulus” was wasted on “green energy” companies - 80% of whom were Barack Obama donors.  Amongst the parade of horribles contained therein: the government took money from energy companies - to fund competitors to their…

As is so often the case with such stories, one can tell how favorable or disappointing a government report on the economy was by whether a story about it is still present at the Associated Press's "Top Business News" page several hours after its release. Today's news from the Census Bureau on September's factory orders and shipments, released at 10 a.m., was extremely disappointing. Thus, it is…