It often amazes that liberals in this country revere New York Times columnist Paul Krugman as being an expert economist.
Take for example Friday's intellectually challenged piece entitled "Bernanke's Perry Problem" in which the Nobel laureate accused prominent Republicans such as the Texas governor and Wisconsin Congressman Paul Ryan of preventing the Federal Reserve chairman from enacting monetary policy that would save the economy:
As NewsBustersreported, America's media last week gushed and fawned over billionaire Warren Buffett's call for higher taxes on the rich.
On Monday, Harvey Golub, the former CEO of American Express, responded to the Oracle of Omaha in a Wall Street Journal op-ed that reveals a side of this tax story media refuse to share with the American people:
As NewsBusters has been reporting, the Obama-loving media have largely been gushing and fawning over the current White House resident taking a vacation on Martha's Vineyard as the economy appears to be heading into a double-dip recession.
Giving an interesting insight into the President's decision to not call Congress back from its summer break to tackle the problems facing the nation was New York Times columnist Maureen Dowd who wrote Sunday:
As NewsBusters has been reporting, the Obama-loving media are working overtime examining the records of every GOP candidate for president.
"The bright side though is," conservative author Ann Coulter told Fox News's Sean Hannity Wednesday, "we don't end up with a Republican president who is suddenly having an affair with an intern, or a Republican president who votes present for his entire term as the economy falls into the toilet" (video follows with transcript and commentary):
It appears David Gregory is a bit confused about how our system of government works.
During intense questioning of Congresswoman Michele Bachmann (R-Minn.) on Sunday's "Meet the Press," the host scolded his guest for having the nerve to actually care what the American people thought about raising the debt ceiling (video follows with transcript and commentary):
If we're to believe Associated Press reporter Daniel Wagner, this morning's report from the Department of Labor on unemployment claims revealing that initial claims during the week ended August 6 fell to 395,000, was "good news." Why, according to Wagner, that drop, all by itself, it was "enough to catapult stocks," pushing the Dow up by 423 points in Thursday's trading.
Uh, not exactly, Daniel. First, though the decline in initial claims was in the right direction, it was only 5,000, or 1.25%, less than last week's original number of 400,000 (naturally revised up to 402,000 this week), and an even tinier 3,000 fewer than the initial number two weeks ago. If (more like when, given the track record of previous weeks) it's revised up by 3,000 or so, it will be even less impressive. Huge advances in the Dow do not arise from such tiny improvements.
As NewsBusters reported, MSNBC's Chris Matthews on Wednesday took some poorly-researched cheap shots at conservative talk radio host Rush Limbaugh.
Limbaugh responded Thursday explaining that this is borne of frustration over the failure of Barack Obama noting, "The Chris Matthewses and the media are very close to the rioters in London in terms of anger, disappointment" (video follows with transcript and commentary):
In 2001, the then-Time magazine reporter wrote a snarky piece criticizing President George W. Bush's month-long vacation that was billed as a "Home to the Heartland" tour. But almost exactly 10 years later Carney, now the Obama White House's press secretary, is defending President Barack Obama's Midwest job-creation tour and vacation at Martha's Vineyard.
"I don't think Americans out there would begrudge that notion that the President would spend some time with his family," claimed Carney at a recent press briefing.
For some reason, in the middle of a lengthy "Morning Joe" segment dealing with President Obama's obvious failures as a leader, host Joe Scarborough on Thursday felt the need to bring up conservative talk radio host Rush Limbaugh (video follows with transcript and commentary):
MSNBC's Thomas Roberts implied Tuesday that members of Congress who oppose efforts to inject more government spending into the economy, as President Barack Obama proposed recently, are committing an "act of treason."
"Why don't people look at that as an act of treason?" the daytime anchor asked the Washington Post's Ezra Klein, who shrugged off the accusation.
"I don't think what happens is Mitch McConnell and John Boehner retire to their volcano lair and plot how to doom the American economy," replied the liberal blogger.
Joe Scarborough on Tuesday told his "Morning Joe" co-host an inconvenient truth that she and most of her colleagues in the media just can't handle.
"A president that cannot control 45 backbenchers in the opposing Party in the House of Representatives is too weak to be President of the United States. It is that simple" (video follows with transcript and commentary):
Obama advisers, Democrat senators, and terminally stupid ideologues that have been for almost two days blaming Standard and Poor's downgrade of America's debt on the Tea Party have all been ignoring a very inconvenient truth.
According to MSNBC's Lawrence O'Donnell, "Last week's vote for a debt ceiling increase was the most bipartisan vote to increase the debt ceiling we have seen in a very, very long time" (video follows with transcript and commentary):
On Monday, one of the only sane voices in the mainstream media stood up and said, "If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB" (video follows with transcript and commentary):
As NewsBusters reported Sunday, Senator John Kerry (D-Mass.) set off a liberal firestorm when he called Standard and Poor's U.S. credit rating change the "Tea Party Downgrade."
On Monday's "Morning Joe," host Joe Scarborough told "terminally stupid ideologues" that "really don't understand" anything because they're "so dogmatic [they] can't think for [themselves]" to "stop using the Tea Party as a piñata" (video follows with transcript and commentary):
Christina Romer, the former chair of Obama's Council of Economic Advisers on Friday offered a rather strong opinion concerning the announcement by Standard & Poor's that the credit rating agency downgraded America's debt to AA+.
Appearing on HBO's "Real Time," Romer said we're "pretty darn f--ked" (video follows with transcript and commentary):
As has been expected, despite the recently reached debt deal, America's debt got downgraded tonight by credit ratings agency Standard and Poor's.
In an analysis posted on its website, S&P explicitly stated that it "takes no position on the mix of spending and revenue measures," however that is a fact that will likely be glossed over by the self-described mainstream media.
There is much more in the analysis, but since you won't likely see this info in the big media outlets, I am reproducing portions of the report which repeatedly mention excessive spending as a problem:
For the second week in a row, Bloomberg's Margaret Carlson got a much-needed education from Charles Krauthammer on PBS's "Inside Washington."
After Carlson gave the typical Keynesian response to Friday's unemployment report - "We’re cutting spending at a time when we should be adding spending to stimulate the economy and jobs" - Krauthammer without skipping a beat quipped, "The way it worked in ’09 and in ’10" (video follows with transcript and commentary):
CNBC's Rick Santelli had to explain the economy to MSNBC contributor Ezra Klein on today's Morning Joe (h/t Hot Air). Klein argued that another recession would "move money around in ways that are unfair."
An exasperated Santelli concisely described what was wrong with Klein's characterization of what recession does to an economy: