"[W]ell, as you said the economy certainly is front and center," Bolton said. "And in fact in the latest survey of Bloomberg economists, economists putting the odds of developing a recession at about 40 percent. Jay Bryson - he's a global economist at Wachovia - he says we are skating on the edge of recession, but it's all going to come down to the consumer. Another economist that we spoke with said that consumers right now are really hanging on by their fingernails. And of course it's not really a surprise."
Move over, Bill Clinton. There's a new kid on the block when it comes to looking into the camera and not telling the truth to the American people . . . and his name is John Edwards. To his credit, George Stephanopoulos caught Edwards out today on a key tenet of Silky's candidacy . . . but then let things slide.
Edwards was a guest on This Week, and it didn't take him long to don his scourge-of-greedy-corporations mantle. Central to Edwards' pitch is the claim that you don't sit down with corporate interests, you fight them.
A January 4 Associated Press story by Jeannine Aversa pointed to the job data as one of the "problems in the economy" that has "elevated fears about a recession." But even with all these "problems" - housing woes, the credit crunch, high oil prices, weak job numbers - the criteria of the economy being in a recession still haven't been close to being met.
"As 2008 begins, house prices are still skidding, bank losses are still mounting, oil is again flirting with $100 a barrel and consumers are buying less as prices rise," the editorial said. "To many, the wheels appear to be coming off the economy. To others, including President Bush and his aides, the economy is fundamentally sound and resilient."
"He is a guy that doesn't get regular coal - I'm giving him high-sulfur stinky coal," Cramer said. "He is in the end an academic who is over his head frankly. I hate to say that. He's a volunteer official who is trying to do his best. But he had his chance and he's lost it."
Washington Post staffers Jonathan Weisman and Steven Mufson gaver readers of the December 7 paper an article on a "comprehensive energy bill" that passed the House of Representatives without delving into Republican criticism that the bill lacks any provision to produce or procure more energy domestically, such as from interior and off-shore natural gas and oil reserves.
Weisman and Mufson noted in the lede that the bill will raise "fuel-efficiency standards" and "require increased use of renewable energy sources" and later quickly dispatched with Republican opposition by finely chopping Minority Leader Rep. John Boehner's (R-Ohio) criticism:
Even House Minority Leader John A. Boehner (R-Ohio) -- who assails the measure as a "no-energy" bill and as a tax increase that would raise, not lower, energy costs -- lauded the CAFE (corporate average fuel efficiency) standards as a good and reasonable compromise.
Oh really? On it's "Online Newshour" Web page, PBS -- hardly a right-wing news venue -- gave readers more of Boehner's critical quote:
Over the past two months, it has been on the way according to the media. But as of December 3, the price of crude has decreased - not increased as predicted.
"Crude briefly cracked $90 a barrel for the first time and analysts say that will soon trickle down to the pump," Alexis Christoforous said on the October 20 "CBS Evening News." "Some predict gas will jump $0.20 or more in the coming weeks. And if crude tops $100 a barrel, they say we could be looking at $5 a gallon."
Have you noticed the genie concerning the real modus operandi behind climate alarmism beginning to peek its head out of the bottle lately?
After the United Nations announced earlier in the week that rich countries - code for America, of course - are going to have to pay billions of dollars to help poor nations deal with global warming, several international press outlets published articles of similar content.
Is it possible media are recognizing that since the Democrat presidential candidates are all advocating a tax the rich platform it is safe to begin discussing the need for developed nations to foot the bill for international global warming solutions?
Consider an op-ed published Friday by Britain's Guardian (emphasis added, reader is strongly advised to hide wallet or purse before proceeding):
As climate alarmists around the world head to a tropical paradise on Bali next week to discuss how developed nations should pay to solve global warming, an inconvenient truth has emerged: many countries that are part of the Kyoto Protocol are going to dramatically overshoot their greenhouse gas (GHG) emissions limits.
While it seems a metaphysical certitude that America's green media will largely boycott such revelations so as not to put a damper on the hysterical proceedings, the fact that taxpayers in countries missing these targets will end up footing the bill also appears likely to be ignored.
As reported by Bloomberg Friday (emphasis added throughout, h/t Benny Peiser):
On 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 and vegetables.
Only a few days later, Golodryga, who covers business and economic issues for GMA, proved her journalistic independence by gushing over liberal billionaire Warren Buffet, or "Robin Hood," as she called him. While Golodryga lobbied for holding on to the death tax (or, as she called it, the estate tax), co-host Diane Sawyer rhapsodized over how Buffet is battling "on behalf of fairness in taxes." (The leftist billionaire has claimed recently that he pays less taxes, percentage-wise, than his receptionist.)
As oil flirts with $100 a barrel, guess who is getting gold stars for reporting ... NPR.
National Public Radio's "Morning Edition" stories on $100 a barrel oil this week have featured some underreported views on the industry: The economy is surviving the higher costs, and the oil companies are using the profits for future exploration.
Reporter Jim Zarroli told NPR listeners what was supposed to happen, saying, "Time and again, economists from Alan Greenspan on down have warned that oil prices are inflationary ... Interest rates go up, borrowing becomes more difficult, and growth slows."
But, Zarroli also pointed out the unique trend that gets little coverage: Despite the rise in oil prices since March 2007, the economy has continued to grow at a strong pace.
There's more than one way to survive the rising cost of oil.
After Wal-Mart (NYSE:WMT) reported higher third-quarter earnings and predictions of a "strong" holiday shopping season, the Dow Jones Industrial Average (DJIA) surged 320 points after taking a battering over the previous week.
In one of the more hyperbolic segments to air on "Good Morning America," ABC reporter Bianna Golodryga fretted that November's unusually high gas prices could lead to poor health, less church and no Christmas. On Monday's program, Golodryga warned viewers that unnamed "reports" allege that "some people are foregoing routine visits to the doctor and are opting for cheaper foods, like pasta and peanut butter, as opposed to protein, fruits and vegetables, in order that they can save as much money as possible" at the pump.
The ABC reporter also managed to find an extreme example and introduced America to Juan Martinez of Phoenix, Arizona. According to Golodryga, the spike in prices has taken "a toll on the family's relationship with God." It seems as though the Martinez clan is cutting back on religious attendance due to the 40 mile journey trek to their church. (Are there no closer places to worship in the Phoenix area?) Additionally, GMA featured footage of Golodryga shopping with Martinez as she lamented, "...Even holiday gift shopping won't be the same." Apparently, there will be less Christmas presents this year.
Christmas is still nearly seven weeks away, and already the media are offering a “Bah, Humbug” for retail sales and the U.S. economy.
CNN shoveled coal at the positive economic news on November 2 and immediately moved into full Grinch mode.
“You know, just earlier this week the broadest measure of the economy, Kyra, the GDP, came in at 3.9 percent, stronger than expected. What’s working against it, though, the financials, concerns that we’re going to have a lot more carnage coming from that very important sector, consumer spending …” said “Newsroom” correspondent Susan Lisovicz.
On September 24 of this year, Alexis Christoforous of “CBS Morning News” warned, “It could be a blue Christmas for many of the nation’s retailers.”
As NewsBusters reported, ABC's John Stossel bravely presented a skeptical view of manmade global warming on the October 19 installment of "20/20."
As a follow-up, Stossel published an op-ed at Townhall Tuesday that should be must-reading for alarmist media members and policy makers around the country.
Marvelously titled "Don't Look to Government to Cool Down the Planet," the article summarized much of what Stossel presented weeks prior on "20/20," while challenging the closed-minded to allow for greater scientific discussion and debate before hasty and capricious policy decisions are enacted that will harm the economy as they do nothing to solve the so-called problem (emphasis added throughout):
NewsBusters has been reporting for the last several years that in the midst of the media's fascination with global warming alarmism, the financial ramifications of proposed solutions to this potentially nonexistent problem have been almost universally ignored.
In reality, you couldn't completely tell just how controversial this piece was from the opening paragraph, but it ended up being a clever -- albeit delicate -- foreshadowing of seriously inconvenient truths that folks like Nobel Laureate Al Gore and his media sycophants have been immorally withholding from the public (emphasis added throughout):
New York Times Magazine published a rather fascinating article Sunday about the rise of nationalized oil throughout the world.
Predictably, it initially came off as a love letter to Venezuela's Hugo Chavez and his new brand of oil socialism.
Yet, if you dig deeper - unfortunately offshore deeper in a very lengthy piece - author Tina Rosenberg ended up rather dissatisfied with "petrocracy," and, instead, advocated private ownership of oil with tighter regulations and more aggressive taxation.
Anybody need a pinch?
Unfortunately, to get to the really compelling parts, one had to suffer through a great deal of Hugo-mania (emphasis added throughout, h/t Charles Johnson):
The Pittsburgh Tribune-Review recently published a story about Citgo gas stations in Pittsburgh finding a dip in gasoline sales. The piece sympathetically portrays Hugo Chavez, the America hating dictator of Venezuela, as a victim attacked by mean American boycotters even as they then claim at the end of the story that it isn't boycotters, but a down economy causing the dip (or maybe it isn't, the story can't make up its mind). So, if it is a down economy, why did the Trib-Review spend so much energy with the first half of the piece decrying a non-existent boycott of that poor, innocent Chavez? Why all this sympathy for Chavez? Your guess is as good as mine.
In fact, there aren't a whole lot of facts presented in this piece at all, so when all is said and done, there is no real conclusion reached, prompting the question of just what the heck the point of the article was in the first place if it weren't for exploiting the mean American boycotters angle? The very first line in the piece sets the tone of pity for Chavez.
NBC Universal’s “Green is Universal” initiative is sending staff across the planet to either cover or cause global warming. That effort “takes an unprecedented look at Planet Earth.” Three members of the ‘Today’ crew – Matt Lauer, Ann Curry and Al Roker – will emit 24.9 tons of carbon to go to the ends of the earth to show viewers climate is affecting the planet. That number is more than three times what a typical American emits in a whole year. (See video here.)
“Well, the journey has begun,” “Today” co-host Matt Lauer said on the October 29 broadcast. “‘Today’ is going to the ends of the earth to report on the changing climate and examine the limits of human exploration in an unprecedented simultaneous broadcast from the top, the bottom and the middle of the world.”
For many months, NewsBusters has been warning readers that the hysteria being generated by the media and the Global Warmingist-in-Chief Al Gore concerning climate change would eventually begin to impact energy and economic policies.
Following last Thursday's landmark decision in Kansas to not give an electricity producer a construction license for a coal-fired power plant due to global warming fears, more than a dozen states are set to file a lawsuit against the Bush administration for holding up efforts to regulate carbon dioxide emissions from cars and trucks.
I kid you not.
As reported by the New York Times Wednesday (emphasis added throughout):
NewsBusters readers are well aware of the recent controversy involving Al Gore’s schlockumentary “An Inconvenient Truth.”
A few weeks ago, a British judge cited nine errors in the film. Team Gore responded Thursday in a rebuttal published at the Washington Post’s Fact Checker blog.
Now, famed climate change skeptic Christopher Monckton, in a detailed report published by the Science and Public Policy Institute, not only refuted Gore’s defense of the movie's contents, but also listed a total of 35 errors in the award-winning abomination responsible for most of the global warming hysteria sweeping the planet (emphasis added):
On Thursday, for the first time in American history, a state denied an electricity producer a construction license for a coal-fired power plant due to manmade global warming fears. As ominously reported by the New York Times Saturday (emphasis added):
The Kansas Department of Health and Environment on Thursday turned down a permit for twin 700-megawatt coal-fired generators that a group of electric cooperatives is seeking to build near Holcomb in southwest Kansas. The ownership and the electricity would be shared by 67 cooperatives in Kansas and neighboring states.
The department's staff had recommended issuing the air quality permits, but Roderick L. Bremby, the secretary of the department, said in a statement, "I believe it would be irresponsible to ignore emerging information about the contribution of carbon dioxide and other greenhouse gases to climate change and the potential harm to our environment and health if we do nothing."
As the Washington Post reported Friday, this decision has disturbing national implications (emphasis added):
This week marks the unhappy milestone of Black Monday for Wall Street, which had some journalists warning “it could” happen again. Even if it doesn’t, the media hammered home the prospect of a possible recession.
The Dow Jones Industrial Average nosedived Oct. 19, 1987, when panicked selling cost investors 22.6 percent in one day of panicked selling. But do investors in 2007 need to be worried about another crash?
ABC anchor Charles Gibson twice pushed reluctant guest expert Sam Stovall, chief investment strategist at Standard & Poor's, to agree that high oil prices and the housing “crisis” will soon lead to a recession. On Tuesday's World News, Gibson outlined: “So, the housing crisis, the Treasury Secretary says it's a significant risk to the economy, the Fed Chairman says it's a significant drag on the economy, we have oil prices over $80 a barrel. Sam, isn't that a classic formula for a recession?” Stovall replied that “what I think is encouraging investors is the pro-activeness of the Fed and government officials by making sure that they get ahead of the curve and fend off the recession.” But Gibson was undeterred from his pessimistic assumptions and pressed again about whether the economy is “really broad-based enough to endure this kind of oil price hike and this kind of housing crisis and not have a recession?” Stovall maintained that oil and housing have impacted the economy, yet “our feeling is we'll probably...get away unscathed.”
Here's something you don't see every day on the front page of a major American newspaper: an article about how the rising demand for ethanol has sent corn and grain prices so high that it's resulted in more people around the world going hungry.
Even more shocking: the article in question was on the front page of Saturday's New York Times.
In a piece entitled "As Prices Soar, U.S. Food Aid Buys Less," author Celia W. Dugger shockingly presented the dirty little secret about soon-to-be-Nobel Laureate Al Gore's grand solution for manmade global warming that NewsBusters has been writing about for months while most in the media remained silent (emphasis added, h/t Glenn Reynolds):