"I said it before and I'll say it again," Amanpour said. "I believe that we failed as a profession to do our duty which is simply to ask the hard questions, to stay on it, to fact check and to cross-check and to not take one version of the story hook, line and sinker."
"[Michael] Wiggins, a city bus driver, was one of millions of Americans caught in the subprime mortgage crisis," CBS correspondent Randall Pinkston said. "His mortgage lenders' network loan gave him an 11-percent interest rate with a payment of $3,900 a month. But that jumped to $4,200 a month because of delinquency fees and penalties. Knowing he was sinking fast, Wiggins looked for refinancing at commercial banks."
"More than a dozen lenders have pulled out of the federal student loan program, unable to raise enough money to make loans," NBC correspondent Tom Costello said. "Now - Pennsylvania, Missouri, Michigan, New Hampshire and Iowa have suspended parts or all of their student loan programs - unprecedented."
"The socialist media - maybe they will just never get it," Stossel said. "Their world view is anti-capitalist. [Ludwig] von Mises wrote about it in 1972 and it's just very hard to change. I would also argue the scientific community is as well."
They're starting to get it. The media are figuring out government meddling in U.S. energy policy is taking a toll on the American economy.
On February 20, the Labor Department reported that the Consumer Price Index (CPI), a key inflation reading, rose 0.4 percent in January, matching December's rise. Why? Increased food costs because corn is being used for ethanol.
"Farmers are replacing wheat fields with corn to meet the demand for alternative fuel, but that means higher flour prices - and in one Pennsylvania pizza shop, more expensive pies," NBC News correspondent Chris Jansing said on the February 27 "NBC Nightly News."
"Now, to the economy," ABC "World News" anchor Charles Gibson said. "And a word not heard since the 1970s - stagflation. That occurs when prices go up just as the economy slows down - stagnation plus inflation. And the government that wholesale prices shot up 1 percent in January and are now up almost 7.5 percent in the past 12 months."
"To help raise awareness of the damage climate change is wreaking on the polar regions, next month Steger will be leading a team of six young adventurers on a 1,400-mile, 60-day-long dogsled expedition across Ellesmere Island, in the far Canadian Arctic," wrote Walsh.
"Critics say emissions are exactly the issue, because coal-fired power is the nation's biggest producer of CO2 emissions," Thompson said in a February 21 report from Ely, Nev. "That's why Nevada is in the center of this fight. The Ely energy center, which would sit in this valley, along with the other two proposed coal-fired plants, could more than double those greenhouse gas emissions, sending another 31 million tons into the sky."
"Blame it on the price of wheat," said ABC correspondent Sharon Alfonsi. "Demand for alternative energy has farmers planting less wheat and more corn - the key ingredient of ethanol. Add the growing appetite for wheat from developing countries and the supply is strained.
With the symbolic passing of the torch - from Fidel Castro to Raul Castro - comes hope of changes in Cuba, well at least among some in the media.
Even though no one is predicting Cuba to usher in a new wave of Adam Smith-style capitalism, there might be some changes according to ABC's "World News with Charles Gibson."
"[H]e's talking about significant reforms - liberalizing trade, economic reforms designed to ease poverty in a country where the average person earned $19 a month in the hope of consolidating his own power," ABC correspondent Jeffrey Kofman said on the Feb.19, 2008, ABC "World News with Charles Gibson."
“This – Nord, is she as imbecilic as she appears to be as absolutely insensitive to American consumers, as absolutely lacking the judgment to run a federal agency designed and created to protect the American consumer?” Dobbs asked. “I mean this woman is beyond belief.”
"And John Kilduff, who I know you speak with often, as well, Brian, he says we could see prices at the pump as high as $4 a gallon," Burnett said. "And that could be by the middle of February. So it could be anytime in the next six weeks. So that's going to be an increase, and we've seen it across the board, Brian. Commodity prices are going up, and that is causing worry for stocks."
"But airline mergers have traditionally meant job losses, especially in the airlines' hub cities, as well as fewer flight options for passengers in smaller cities and higher ticket prices," NBC correspondent Tom Costello said. "In Atlanta, we found frequent travelers fearing that's exactly what could happen."
Fear not, ye economically downtrodden: Katie Couric is looking out for you.
The "CBS Evening News" broadcasts over the last few months have found a multitude of ways to frame the U.S. economy in the worst possible ways, so much so that Couric compared CBS News correspondent Anthony Mason to the grim reaper on a recent newscast.
One home supposedly burned because Sheryl Christman, a 38-year-old Michigan woman, was three days short of foreclosure. She pleaded no contest after the Sept. 1, 2007 arson. The other case was a Colorado arson where a man "may have" committed arson before an "imminent foreclosure."
"He will make Cheney look like Gandhi," Buchanan said.
Buchanan participated in a panel with former Bill Clinton political adviser Paul Begala and liberal Air America radio talk show host Rachel Maddow on NBC's February 6 "Today." Buchanan told "Today" host Matt Lauer that McCain will have to shift focus from the economy to other issues.
"[T]he truth is, ["Today" co-anchor] Meredith [Vieira], it doesn't matter if we're in a recession," Bartiromo said on NBC's February 6 "Today." "We can talk ourselves into a recession, and that seems to be what we're doing right now and that certainly begets more weakness."
The media coverage has apparently affected voters. According to the February 6 Washington Times, an exit survey from the "Super Tuesday" primaries showed 47 percent of Democratic voters and 40 percent of Republican voters said the economy was the most important issue in making their choice at the polls.
Maybe they should have added a few carbon credits to this Super Bowl bet.
NBC's "Today" co-anchor Meredith Vieira lost a bet to fellow co-anchor Matt Lauer for the New York Giants 17-14 win over the New England Patriots. But it wasn't exactly a carbon-neutral endeavor.
"[Y]ou know, let's check the traffic chopper, chopper four for Meredith - to see how traffic is over the West Side [of New York City] - and you can see, it's still clear," "Today" meteorologist Al Roker said on the February 4 show. "It's still clear, the traffic and in fact, it's perfect for planes flying overhead, ‘Giants Rule, Meredith drools.'"
Imagine someone going on the radio and using Scripture to give you advice on your finances. To ABC's "World News," following this advice involves "radical" action.
The February 3 "World News Sunday" featured the financial advice of Howard Dayton. Dayton incorporates the Bible into his advice and says it's Biblical to get out of debt as soon as possible. But "World News" anchor Dan Harris portrayed the followers of this advice as a fringe element.
"Dayton urges families to pay them [debts, including home mortgages] off as quickly as possible, even if it involves radical belt tightening - advice the Pruitt family is following," Harris said.
"[I] think that McCain has certain political virtues that other Republicans don't, which is that he actually has kind of a record of being, of being conciliatory - that there's actually - I mean, I don't what it means for the electoral future of the Democratic Party, but there are the possibilities for doing some interesting things with McCain as a leader, and I'm mostly thinking about global warming - where McCain has the best track record on energy and environment on the Republican side in the Senate," Foer concluded. "So, I think you have some really good possibility for a Nixon-to-China type solution to climate change if he decides that that's going to be the thing he is going to use to build a bridge."
"[T]here's a system out there where basically what happens is the government makes some assumptions about how many jobs are created or lost every month," Burnett explained. "How many businesses are created - they can't check it every single month, so they have to make some assumptions. It turns out if you look out over history they always do the ‘businesses dying estimate' in the month of January - as a matter of fact, always in the month of January."
♪♫ ♪ Say, say, one, nine, three, zero, party over, oops, out of time! So tonight I'm gonna party like it's 1929! ♪♫ ♪
It's the kind of rhetoric legislators in Congress were probably hearing following the economic downturn that occurred in 1929, which instigated the infamous Smoot-Hawley Tariff Act of 1930 that sent U.S. tariff rates sky high. That is, the February 11 issue of BusinessWeek, showing all the disadvantages of free trade for the United States and ignoring the advantages.
An article, "Economists Rethink Free Trade," by BusinessWeek Washington Bureau Chief Jane Sasseen ignored the benefits of free trade and the consequences of enacting anti-free trade policies.
On January 18, Cramer appeared on MSNBC's "Hardball with Chris Matthews" and warned if the government didn't intervene and prevent the failure of two large insurance companies, Ambac and MBIA, the Dow Jones Industrial Average would drop 2,000 points in the upcoming weeks. Cramer isn't talking about that sort of collapse anymore.
"For months I was worried about [MBIA CFO] Chuck Chaplin and MBIA (NYSE:MBI) and ABK [Ambac Financial Group, Inc.] (NYSE:ABK)," Cramer said on the January 31 "Street Signs." "Everyone's worried about it now? Why should I be worried about it? When you have a problem on your hands and everyone's worried knows about it, [New York State Superintendent of Insurance] Eric Dinallo to [President of the Federal Reserve Bank of New York] Tim Geithner, it's done. It's done."
Weisberg linked it back to a pattern of dyslexia in the Bush family.
"I agree with that," Weisberg said when presented the possibility that Bush has a "learning disability." "The other thing I've done is collect ‘Bushisms' over the years and I sort of joke this book is my penance for doing that, because one of the things ‘Bushisms' do is I think they make Bush sound stupider than he is, or stupid in a way he isn't. And I do think he does have some sort of language processing impairment that is probably akin to dyslexia, and dyslexia does run in the family. But, I don't think it is dyslexia because if you watched the State of the Union, you could see he has no trouble reading a teleprompter."
Can you remember where you were at any point during the four years of the Jimmy Carter presidency?
Most people who were alive don't look favorably toward the economic situation during those years. But MSNBC "Hardball" host Chris Matthews, who was gainfully employed as a member of the Carter administration, might look back a little fondly.
"According to the latest figures, America may no longer be the ‘fast food nation' that it once was," Golodryga said on the January 29 "Good Morning America." "And, it has nothing to do with going on a health diet, but everything to do with going on a spending diet."