Ed Frank created an interesting little video that serves as a stark reminder of how harsh the Old Media was on Bush's "faltering" economy in comparison to today's hearts and flowers style of reporting during the age of Obama, even though the stats are far, far worse under Obama than they ever were under Bush.
Frank's video is shocking for its revelation of how Bush was slapped around and how every economic indicator during his tenure in the White House was deemed as obvious proof of the supposed though times we then faced. Yet now, every dismal indicator is celebrated as if recovery just around the corner. Under Bush the Old Media was sure the economy was a wreck, now the wreck proves we will surely be saved by Summer!
There is happy-talk and then there is delusion. The Associated Press has just approached the delusional stage with its recent assessment of what the unemployment numbers mean. Absurdly, the AP seems to imagine that the continued job losses under Obama means that job hunters are experiencing "raising hopes"! It's like sitting on the Titanic pleased that taking on water raises hopes that a nice, relaxing bath is will soon be at hand.
The first paragraph of the story claims that since last month saw a few less layoffs, why, that is saying that what we have here is "the brightest hope yet that an economic recovery" will take hold later this year. What does the AP offer as proof? Not a whole lot, sadly. In fact, the very next paragraph sort of torpedoes the first. After this "brightest hope" business, the AP gives us this:
Nonfarm payroll employment fell by 345,000 in May, about half the average monthly decline for the prior 6 months, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The unemployment rate continued to rise, increasing from 8.9 to 9.4 percent.
Ahead of the 8:30 a.m. report, according to Reuters, Dow futures were up 54 points, while S&P and NASDAQ futures were up 5 and 5.75 points, respectively (the time-stamp is 9:22, but the narrative is clearly pre-8:30).
Just after the market opened, I received this CNNMoney e-mail:
According to this AFP report, "Most analysts expect employers to have cut 520,000 jobs, down from 539,000 in April. But the unemployment rate is still expected to have jumped to 9.2 percent, its highest since 1983." (UPDATE: 345,000 seasonally adjusted jobs were lost in May, but the unemployment rate rose sharply to 9.4%.)
"Down from April"? Given the vagaries in the governmnent's estimates, and that the figure will be revised in the following two months, how about "virtually the same as April"?
At least AFP gave us two numbers to compare. An e-mail I received on Wednesday morning from CNNMoney.com about ADP's monthly National Employment Report didn't even do that:
The national unemployment rate is 8.9 percent and even higher in places like Cambridge, Md. So you might find it strange to see NBC advocating an expansion of legal migrant labor when so many Americans are struggling.
Nonetheless, former "NBC Nightly News" anchor Tom Brokaw did just that in the first part of a new series called "American Character." The former anchor will travel U.S. Highway 50 from coast to coast to report on people struggling in this economy. On "Nightly News" May 27, Brokaw visited a crab picking house in Cambridge, Md. that's suffering from a shortage of workers.
"Jack Brooks runs J.M. Clayton's, one of the oldest crab processors in the area," Brokaw said. "He's got all the crabs he can handle. What he doesn't have, even in this brutal economy, is enough workers to pick them."
The media have lamented use of the word fascism when it has been used to describe moves by the Bush and Obama administrations and the private sector economy.
But when examined from a purely political and economic point-of-view, that is what's going on now according to Thomas Sowell, Stanford University's Hoover Institute Senior Fellow and author of "The Housing Boom and Bust." Sowell appeared on Glenn Beck's May 27 program and was asked if the United States was still a capitalist country.
"Oh, heavens, partially," Sowell replied. "We're not a socialist country, because the socialists believe in government ownership of the means of production. But, the fascists believe that the government should have private ownership and the politicians should tell people how to run the businesses. So that's the route we seem to be going."
On May 15, I posted (at NewsBusters; at BizzyBlog) on the Obama administration's and government-run Chrysler's blatant deception concerning whether plants would be closed as a result of the company's bankruptcy filing.
Specifically, on April 29 and 30, Obama, the administration and Chrysler told senators, congressmen, state and local politicians, and local and regional union leaders that the bankruptcy (these are Obama's words) "will not disrupt the lives of the people who work at Chrysler or the communities that depend on it." Those who heard this and other reassurances reasonably concluded that no plants would be permanently closed. But on May 1, government-run Chrysler announced that it would close plants in Michigan, Missouri, Ohio, and Wisconsin. Days later, hundreds of Chrysler dealers were terminated.
The national media establishment has treated all of this as a non-story, so I expect it will do the same with this update from the Cleveland Plain Dealer. It includes news that two Ohio congressmen, one Democrat and one Republican, are demanding documents relating to the who, what, where, when, and why of the plant-closing decisions:
Here's a CNN e-mail alert I just received a couple of hours ago:
So how did the Associated Press's Jeannine Aversa report the above raw news? As you would expect an Obama apparatchik to do it (reproduced in full as it existed at 3:15 p.m.; bold after title is mine):
Fed sees hopeful signs but downgrades '09 forecast
WASHINGTON (AP) — The Federal Reserve expects the economy to improve in coming months, even as policymakers have downgraded their outlook for all of 2009.
You know the era of big government is alive and well when you see a mainstream news outlet praise the growth of the public sector as a "bright spot."
Leading up to and throughout the 2008 national election cycle, CBS News was generally downbeat on the economy, even when times were much better than they are currently. However, now that government has taken a much larger role in the private economy, the "CBS Evening News" has now been running a so-called "Economic Bright Spot" segment. And on the May 18 broadcast, "Evening News" anchor Katie Couric explained how government was going to save us all.
"Back here on earth, government agencies like NASA seem to be the only places hiring during this recession," Couric said. "Last month, there were 72,000 new government jobs - 66,000 federal. That's up more than 2 percent from the month before. As Kelly Wallace reports, for thousands of graduates who need jobs this hiring boom is one of the economic bright spots."
What is the idea of the American dream, of working hard and achieving something, and knowing that all, you know, half your wealth is going to someone who didn't do that?
So asked CNBC's Maria Bartiromo Thursday during a stirring discussion with a union advocate who had the nerve to claim the problems in the auto industry were all caused by a lack of a nationalized healthcare system, and that only the top one percent of wage earners in America should pay federal income taxes.
Unlike most media members who would have applauded such sentiments coming from one of their guests, Bartiromo pushed back, with respect and professional courtesy not seen much from journalists these days, and in a fashion that would make many Americans currently concerned about their nation's direction a wee bit nostalgic and tremendously proud.
What follows is a partial transcript of this exchange, as well as an embedded video of the entire segment:
It is disappointing, but not at all surprising, that the Democratic Party affiliation of the politicians involved in the union-driven campaign to force Wells Fargo Bank not to liquidate the Chicago-area operations of Hartmarx, the high-end clothier which has made suits for President Obama, has not been noted in the vast majority of stories I have reviewed about ongoing developments there.
The two Illinois politicians (there are others named below) are Illinois State Treasurer Alexi Giannoulias, who has formed a US Senate seat exploratory committee in hopes of unseating current occupant Roland Burris, and 13th District Congressman Phil Hare.
The situation, for those just learning of it, is described pretty well at this Chicago Sun-Times story by Sandra Guy, who at least flagged Hare's Democratic affiliation:
Even after Hart Schaffner Marx plant workers in Des Plaines unanimously stood up shouting their approval of staging a sit-in if Wells Fargo presses their parent company to liquidate, Wells Fargo said parent company Hartmarx is unable to repay more than $114 million it owes the bank.
The Associated Press's Jeannine Aversa, who became infamous last year for her stories of "vanishing jobs" that weren't, sounded hopeful early this morning before the release by Uncle Sam's Bureau of Economic Analysis (BEA) of its first-quarter report on Gross Domestic Product (GDP) growth:
Economy's free-fall probably eased in 1Q The recession's grip on the country may be letting up a bit.
The government is set to release a report Wednesday expected to show the economy shrank at a pace of 5 percent in the first three months of this year. If Wall Street analysts' forecasts' are correct, the figure — while still extremely weak — would be viewed as a hopeful sign that the worst of the recession — in terms of lost economic activity — may be past.
Not once in his story did Stone press Bonds on specifics about how she expected to replace jobs lost due to the anti-mining regulations that she pines for, nor did he raise an eyebrow to Bonds practically suggesting that West Virginians would be better living in shotgun shacks without electricity (emphasis mine):
While Fox News has celebrated the Taxpayer Tea Party rallies and MSNBC has denigrated them, the impetus of the movement - CNBC and specifically Rick Santelli, its inspiration - had been conspicuously quiet about it.
"A lot of articles about these tea parties," Kernen said. "They all have your name in them, like you caused it. Are you actually attending any or are you just sort of got the idea going initially? What do you think? I mean, you're like a cultural phenomenon at this point."
Even before a single bag of tea has been dumped as a form of protest over government economic policies, the gang at MSNBC is in full-attack mode over the notion these protests merit any recognition.
On MSNBC's April 10 "Countdown," fill-in host David Shuster imitated his MSNBC colleague Rachel Maddow's juvenile and overdone description of the tea party protest to disparage the upcoming nationwide event.
"Now to the so-called ‘teabagging parties' you may have heard about," Shuster said. "They have been fluffed repeatedly by Fox News. Citizen protests over the government's collection of taxpayer money, specifically that the wealthiest taxpayers in our nation will see their rates go up 3 percent two years from now."
It's hard to find an upside to the continuous drumbeat of bad economic news. But on April 7, MSNBC host and Obama cheerleader Rachel Maddow felt compelled to try.
"There is a silver lining here, maybe," Maddow said. "As horrible as the jobs numbers are and as pessimistic as executives across the country appear to be - Americans broadly speaking are actually sort of increasingly optimistic these days."
Maddow cited a New York Times/CBS poll that indicated more Americans think the United States is heading in the right direction, the number who think the economy is getting worse has decreased and more are thinking the bank bailout will help "all Americans" - all of this occurring since President Barack Obama was sworn in back in January.
Barack Obama has done something no other president has done in the five months after his election.
He and his pals Nancy Pelosi and Harry Reid laid the groundwork for this achievement back in June when they created what I have since last July been calling the POR (Pelosi-Obama-Reid) Economy, so it is fair to say that Obama's accomplishment, spanning November 2008 through March 2009, belongs to him, with a heavy assist from his fellow party members.
It took a lot of hard work, perseverance, and persistence, but he and they have done it. That crowning achievement follows the jump.
Since former Vermont Gov. Howard Dean stepped down as the chairman of the Democratic National Committee, he has ventured into other opportunities.
One of those opportunities was to be a business pundit for the financial news channel CNBC, even though Dean's background prior to politics was in medicine. But just over a week later, in an e-mail dated April 2 to MoveOn.org mailing list subscribers, Dean wrote he was leaving Washington to hit the campaign trail "to help President Obama win health care for all."
On the March 28 World News Saturday, ABC correspondent John Hendren observed that the "pure adulation" formerly shown for President Obama in Europe has now faded as the President prepares for the G-20 summit in London to convince the group of economic superpowers to adopt his plans to increase spending to stimulate the economy. After anchor Dan Harris introduced the report noting that "Mr. Obama is facing a huge challenge on this trip, convincing reluctant European leaders to rescue the global economy his way," Hendren began his piece:
JOHN HENDREN: "The last time President Obama came to Europe, it was pure adulation. But now, Mr. Obama is President in the midst of a global economic crisis. Next week, he will try to persuade 19 other heads of state that they must sign on to his rescue plan and increase government spending in their own countries as he has here, signing a $787 billion rescue plan. Germany's Angela Merkel has criticized the plan and European Union chief Mirek Topolanek calls it-
Just under 90 minutes before President Barack Obama's Tuesday night news conference, ABC's World News set out to support his contention that his policies have already led to economic improvement. Picking up on how Obama planned to announce at the start of the session that thanks to his economic policies “we are beginning to see signs of progress,” anchor Charles Gibson asked: “Well, is the President right? And are things turning around? We asked David Muir to look at two key sectors of the economy, jobs and housing.”
Muir decided in Obama's favor: “The report card on the economy does show glimmers of hope.” He pointed to how “last month, 651,000 more jobs were lost, a lot of workers. But just two months earlier, that number was 681,000.” Muir proceeded to highlight how because of the “stimulus,” there “are now signs that money is trickling down.” (I thought the media line was that “trickle down” doesn't work?) Specifically, “the U.S. Forest Service is among the first government agencies to hire. Melina Vasquez is among the 1500 people who will now be restoring the parks.” Plus, “outside Portland, Oregon, one contractor fixing U.S. Highway 26 is bringing back 30 laid off workers and hiring ten more.”
CBS anchor Katie Couric on Friday night used the jump in the unemployment rate to 8.1 percent to cheerlead for how the “stimulus” bill is “creating” jobs, an impact her newscast illustrated with two full stories after reporter Anthony Mason declared: “It's the government that's going to have to pull us out of this recession.” (On ABC's World News, Betsy Stark similarly saw salvation in the stimulus spending. Citing predictions of even higher unemployment, she contended: “That's why the stimulus plan is so important. If it's successful, those huge job losses should slow down.”)
Couric teased the CBS Evening News: “The recession has now cost nearly four-and-a-half million Americans their jobs. We'll show you the new jobs his stimulus plan is creating.” She then led by promising: “In a moment we'll be telling you about all the jobs the stimulus plan is creating, but first, why those jobs are so desperately needed.”
As part of a continuation of his "COMЯADE UPDATE" segment he started near the beginning of his show, which became a YouTube sensation, Fox News host Glenn Beck is picking up right where he left off.
Beck, on his March 4 program took on a couple new targets, UK Prime Minister Gordon Brown and union labor.
"Comrades! Comrades, there is good news from the Western front," Beck said. "Our glorious revolution is starting to take hold on a global scale. Just listen as Comrade Brown pounded our propaganda into the minds of the clueless capitalist pigs today. Listen up."
Beck played a clip from Brown's address of a joint session of Congress, where the prime minister lobbied for the "world" to work together.
In February, in the build up to the ultimate passage of President Barack Obama's $787-billion stimulus package, there was a lot of discussion about how much the stimulus was going to help the ailing economy. And to promote the bill, Obama visited a Caterpillar plant in Peoria, Ill.
Rep. Aaron Schock, R-Ill., who represents the 18th Congressional District of Illinois, where the Caterpillar plant is located, described Obama's visit and how he used it to lobby him to vote for the bill. It was another side of the story that went unreported by the media.
Here we go again - another Obama administration/media personality feud in the works.
White House Press Secretary Robert Gibbs has no problem addressing media critics of President Barack Obama - even on an individual basis. Since Obama was sworn in as president, Gibbs has addressed criticism from conservative radio host Rush Limbaugh, CNBC mercantile exchange floor reporter Rick Santelli and now CNBC "Mad Money" host Jim Cramer.
During the March 3 White House press briefing, Tom Costello of NBC News asked Gibbs to respond to remarks from Cramer, who was described as "not a conservative," made on NBC's March 3 "Today" show that he "thought the president's policies, his agenda had contributed to the greatest wealth destruction he's ever seen by a president."
The math-challenged Biden, who infamously said during the presidential campaign that the word "jobs" has three letters (maybe you don't know about that one either), made this false claim Wednesday morning, and almost no one noticed.
One exception was TV station KSLA, which filed this report (related but not identically scripted video can be found at link; direct link to vid is here). Reporter Fred Childress's "Fact Check" told us that Biden isn't merely wrong; the Bayou State actually gained seasonally adjusted jobs in December:
The most important thing to keep in mind while reading this Boston Globe article, is that it would never have been written six months ago. Why? Because at that time the "evil" Republicans controlled the White House and unemployment would have been portrayed as grim. However, now that Barack Obama is in the Oval office, rising unemployment is being presented almost lovingly as you can see in the very title of the article written by Jenn Abelson, "For now, laid off and loving it":
A few days after David Adler's wife decided to leave her law firm in December, he was laid off from his job designing software at Brightcove.
It was shocking. And scary.
Until it wasn't. Adler has quickly learned to appreciate some aspects of his unexpected unemployment.
The 42-year-old spends his days doting on his 6-month-old daughter, visiting museums with his family, and preparing for a possible exhibit of his photos at a local coffee shop in Dedham. Living off savings, unemployment, and severance packages, Adler knows he has to get a job eventually and has started the search. But for now, he's cherishing every moment. "It's our first child and I love watching her grow," Adler said. "And it's nice to have time off and get in touch with my old hobbies."
Will wonders ever cease? First, a NBC network airs its Chicago Mercantile Exchange floor reporter making a call to action against all the populism that has inundated the political dialogue over the past six months. Now, the same reporter, Rick Santelli, has been invited by White House Press Secretary Robert Gibbs to the White House.
On CNBC's "Street Signs" Feb. 20, Santelli told viewers he would accept Gibbs' invitation. And, although his critics thought he was over-the-top, he said he still felt good about his impassioned plea.
"Well, I tell you what Melissa Lee," Santelli said. "It's been a wild afternoon, but I do want to point out - I do believe I was invited to the White House by Mr. Gibbs and I want to let him know, I would love to. I would love to accept and the decaf sounds good, but I prefer tea, but thank you for bring this into the forefront. This is an issue that means a lot to everybody and I'm glad it's getting a high degree of introspection, debate and I think that's essential. I feel really good about that."