The June jobs report was “very disappointing” for the Obama administration and to people looking for work, according to CNBC’s John Harwood. The 80,000 job gains was 20,000 short of expectations, and the unemployment rate was unchanged.
Moody’s economist Mark Zandi, who has often found a bright side to negative reports, reacted that way again saying there were “silver linings” in the report. But former Office of Management and Budget Director James Nussle strongly disagreed with those claims.
On Sunday's Melissa Harris-Perry show on MSNBC, as host Harris-Perry led a discussion of what the presidential candidates will need to do to appeal to white voters, panel member and CNBC contributor Keith Boykin asserted that Republicans have "carefully caricatured" the Democratic Party as the "party of black people," and suggested that Americans have been duped into believing that most federal tax dollars are spent to benefit black Americans. Boykin:
Syndicated columnist Charles Krauthammer on Tuesday said former President Bill Clinton is behaving like a "double agent" with some of the remarks he's been making about Barack Obama.
Appearing on Fox News's Special Report, Krauthammer also said, "I think he really is now a bull in a china shop, and there’s a lot of crockery that’s being destroyed” (video follows with transcribed highlights and commentary):
Following a report on Wednesday's NBC Nightly News about the dropping value of Facebook's initial public stock offering and possible investigations into what went wrong, anchor Brian Williams saw an opportunity to adopt the talking points of the left-wing Occupy Wall Street movement: "Is this a case of the rich get richer, another advantage to the 1%...?"
Williams posed that question to New York Times reporter and CNBC host Andrew Ross Sorkin, who enthusiastically added to the class warfare rhetoric: "Boy does it feel that way, Brian. This is that and probably a lot more. And it couldn't come at a worse time given the enormous distrust that the public has of Wall Street. And it goes to this sense of fairness. This is the ultimate 1% versus 99% all over again."
On Tuesday's NBC Today, co-host Matt Lauer invited CNBC Mad Money host Jim Cramer to elaborate on calling Mitt Romney a "job destroyer" as the head of Bain Capital on Sunday's Meet the Press: "You speaking as a pundit, or do you have some experience here?" Cramer declared: "He was talking about rationalizing the workforce, making it so that the companies were more efficient. Matt, these were code words back then. Code words for firing people."
On Sunday's NBC Meet the Press, CNBC Mad Money host Jim Cramer followed Obama campaign talking points perfectly as he decried Mitt Romney's business record at Bain Capital: "Romney's known as a job destroyer, not a creator....I think Bain sticks. I think the idea that you bring in Bain...they fire a lot of people and that's how they get prosperity for the rich." [Listen to the audio or watch the video after the jump]
At the same time, Cramer dismissed a positive forward-looking Romney ad outlining specific policy proposals: "I just don't think that this will stick." He concluded the Bain attacks against Romney were "a more resonant theme" and better "than anything that Romney's come up with."
But, looking back, some journalists predicted the opposite: that the Greek economy would survive because of government bailouts. Huge fan of government-deficit spending, Paul Krugman, has been writing about Greece a lot, arguing that its trouble is proof that austerity doesn’t work.
To get reaction to President Obama's flip-flop on gay marriage, Thursday's NBC Today brought on openly gay left-wing MSNBC host Rachel Maddow, who quickly attacked Republicans on the issue: "It's a very, very conservative Republican Party on this issue....Mitt Romney, who wants to roll back gay rights nationwide."
Co-host Ann Curry helped Maddow along by asking series of questions from the left: "...[Obama's] leaving it to the states, there's no movement to do something federally, in terms of making a change, I mean, what actually changes?....Is it clear, though, that this will not satisfy gay marriage activists?...that there's going to be an increase in their demands to push this further forward? Have it be on the platforms for the Democratic Party?"
In a panel discussion on Thursday's NBC Today about President Obama announcing his support for gay marriage on Wednesday, co-host Savannah Guthrie confessed to the group of all liberal pundits: "...so many people in the media seem to uniformly support same-sex marriage." [Listen to the audioor watch the video after the jump]
That fact was made blatantly obvious by the discussion that preceded Guthrie's admission. The panel featured openly gay CNBC host Suze Orman, who voiced her support of the President's move: "Yeah, part of me is like, 'What took you so long, President Obama?' This is something that should have been done, in my opinion anyway – obviously, I would think that – a long time ago."
About 45,000 fewer jobs were added in April than economists expected, and the unemployment rate dropped to 8.1 percent due to more than a half million people giving up the job search. CNN Money reacted with the headline “hiring fizzles.”
University of Maryland Economist Peter Morici wrote in response the jobs report, “The economy added 115,000 jobs in April - much less than expected and not enough to keep up with natural population growth. The unemployment rate fell to 8.1 percent because another 522,000 adults quit looking for work and are no longer counted.”
NBC incessantly talked about race and racism after the Trayvon Martin shooting, but on Monday race took a back seat to guns as the problem at the heart of the case. On Monday's Today show, host Matt Lauer cited comedian Bill Cosby and asked if the media has focused too much on race "when guns are the real problem?"
Thus the liberal discussion shifted from race to guns as the Today's Professionals panel responded in the affirmative. Attorney Star Jones avowed that "the issue is guns."And citing his own business experience, former CNBC host Donny Deutsch insisted "when you go after the guns you're solving problems." [Video below the break. Audio here.]
In an opinion piece for CNBC.com on Wednesday, Street Signs anchor Brian Sullivan argued: "...for the majority of the country, $4 gas isn't going to doom us or our economy....right now it just doesn't add up. After all, it looks like $5 is the new $4 when it comes to gas prices and the economy."
Sullivan cited new car sales being on the rise, with those vehicles having better gas mileage, and pointed to inflation causing $4 a gallon to actually be "somewhere in the $3.64 range in 2007 dollars today." In addition, he noted the payroll tax cut "mitigates much of the impact."
On CNBC's Behind the Money blog on Wednesday, Fast Money executive producer John Melloy promoted a left-leaning theory as to why the stock market has been on the rise lately: "While President Obama may not be Wall Street's ideal candidate, stock prices are rising on growing expectations he will be re-elected this November."
Melloy pointed to long-term political certainty as a reason for investor optimism and added: "The surge in President Obama's chances at a second term also have coincided with a string of better-than-expected domestic economic data this year, including an all-important drop in the unemployment rate."
As NewsBusters has been reporting, the perilously liberal media have been focusing a great deal of attention on contraception in order to assist President Obama's narrative that Republicans want to take away everyone's birth control.
Doing his part on MSNBC's Morning Joe Thursday was CNBC contributor Howard Dean who actually said with a straight face, "Very conservative women want their kids, their daughters taking birth control" (video follows with transcript and commentary):
CNBC's Rick Santelli in 60 seconds Tuesday perfectly described the difference between the Tea Party and the Occupy movement.
Responding to a question from "Squawk Box" guest host Arthur Brooks of the American Enterprise Institute, Santelli dispelled the notion that "the Tea Party's done" (video follows with transcript and absolutely no need for additional commentary):
CNBC's Suze Orman bills herself as an "internationally acclaimed personal financial expert."
This "financial expert," appearing on HBO's Real Time Friday, said that in 2012, "We are average [sic] 200,000 jobs a month that are being created...[Obama's] done so much in the past four years I can’t even tell you" (video follows with transcript and commentary):
At the very least the timing of ABC News's interview with Gingrich ex-wife Marianne Gingrich is suspect. At the very worst, it is completely inappropriate if it failed to be newsworthy and respectful, NewsBusters publisher Brent Bozell told CNBC's Larry Kudlow on his January 19 Kudlow Report.
"In some respects, aren't they obliged to get it out as fast as they can," Kudlow countered, adding that maybe by putting it out the night of the debate, "it actually lessens the impact and significance of the interview." [see video embedded below page break; see related Bozell statement here]
UPDATE: James Pethokoukis at the American Enterprise Institute's blog has more, including the possibility that the original story misidentified "Bain Consulting," as well as a theory as to the story's original source.
It looks like someone ran with something they thought was too good to check.
A retraction described as a "Correction" currently on CNBC's web site tells readers: "A previous story incorrectly reported that Mitt Romney's former firm, Bain & Co., was part of a team of consulting companies that advised President Barack Obama on a decision to shutter car dealerships during the auto bailout. Bain & Co. said it has no connection to the "Bain Consulting" firm referenced in government documents." Several bloggers excerpted the original report, including Ed Morrissey at Hot Air. Some of what he captured follows:
After the news portion of a "Warmer Weather Hurting Retail" segment on the impact of the mild winter on retail sales thus far appearing early this morning on CNBC, Joe Kernen and John Harwood got into it over the relevance and influence of so-called "global warming" (I guess Harwood didn't get the memo that it's "climate change" now).
John Harwood, chief Washington correspondent for CNBC, co-hosted the GOP debate in Michigan last Wednesday, and had a hand in Perry’s infamous debate “oops” moment, when the Texas governor was unable to list all three of the federal agencies he planned to eliminate as president. On Monday Harwood revealed that a CNBC producer helped prod Perry’s long, awkward moment by shouting a directive into Harwood’s earpiece.
Harwood also writes a weekly “Caucus” column for the New York Times. On Monday he discussed his role in Gov. Rick Perry’s infamous debate "oops," as well as how the audience booed the hosts for bringing up Herman Cain's sexual harassment controversy.
During Wednesday night's presidential debate, Newt Gingrich could barely restrain his amusement as co-moderator Maria Bartiromo defended the liberal media's reporting of the economy.
Bartiromo took umbrage after Gingrich's asserted, "What is amazing to me is the inability of much of our academic world and much of our news media and most of the people on Occupy Wall Street to have a clue about history." The CNBC journalist responded by huffing, "I'm sorry, but what is the media reporting inaccurately about the economy?" An incredulous Gingrich mocked, "I love humor disguised as a question. That's terrific." [ See video below. MP3 audio here.]
Before being tapped to be one of the moderators at CNBC's upcoming Republican presidential debate, John Harwood was ranting against the GOP for causing the summer debt crisis. Appearing on NBC's Today in July, Harwood warned: "...the House Republican caucus...would not accept what President Obama needed to make a deal...It's crazy politics, what they're doing..."
When the U.S. later lost its AAA credit rating in August, Harwood again appeared on Today to proclaim that the downgrade had provided President Obama with "a tangible consequence to point to for Republican brinksmanship on the debt and deficit reduction deal.”
Nation magazine writer Ari Berman carped on today's Martin Bashir program on MSNBC that Rep. Paul Ryan (R-Wis.) wants to take America back into "a new Gilded Age," an "era of the robber barons where the top one percent" would control the nation's wealth.
Immediately after that segment, Bashir turned to CNBC's Brian Sullivan for the day's "CNBC Market Wrap," a look looking at how the nation's stock exchanges performed today.
After discussing the "boring" but positive day on Wall Street, Sullivan added in closing that he would like to come on Bashir's program to debate Berman some time (MP3 audio here; video embedded below):
President Obama once again showed a thin skin on Thursday by accusing Fox News's Ed Henry of being Mitt Romney's spokesperson.
CNBC's John Harwood asked White House Chief of Staff William Daley about this the following day, and Daley responded, "There are certain people in the media who do seem at times to carry the water for certain piece of the political spectrum" (video follows with transcript and commentary):
The U.S. unemployment rate in September was 9.1%, a terrible statistic and a symptom of a profoundly damaged economy. Anticipating Friday's jobs report, CNBC Squawk Box co-host and New York Times reporter Andrew Ross Sorkin wondered whether the bad economic news had already reached a point where it would be "almost impossible" for President Obama to be re-elected.
"Remember when people used to say for Obama to win, this was a year or two ago, it [the unemployment rate] had to be under 8%," Sorkin recalled. "For him to get unemployment, from now until the elections, under 8%, you have to create something on the order of 400,000 jobs a month.... which is, obviously, almost impossible." [video after the jump]
In a report filed at the Los Angeles Times's Politics Now blog earlier today, Washington Bureau reporter James Oliphant relayed a number of whoppers delivered by Vice President Joe Biden without anything resembling a challenge. In Part 1, I noted how Biden, who in August described Tea Party sympathizers as "terrorists" and in September as "barbarians," today spoke in complimentary terms of how much the Occupy Wall Street crowd has in common with them. In Part 2, I dealt with the Veep's hit at financially struggling Bank of America for having the nerve to try to recover some of what the Dodd-Frank "financial reform" legislation took away by charging some customers a $5 monthly fee for debit-card use.
This final part will deal with Biden's rendition of how the "bank bailout" portion of TARP operated, which is quite different from the reality. The relevant excerpt from Oliphant, which necessarily overlaps the first two parts, follows (bolds are mine throughout):
CNN's newest addition to its prime-time line-up, former CNBC anchor Erin Burnett, told Reliable Sources host Howard Kurtz on Sunday that yes, she would be "more opinionated" at CNN than in the past. Burnett's show, "Out Front," airs for the first time on Monday Oct 3 at 7 p.m. EDT.
Kurtz interviewed Burnett at the bottom of the 11 a.m. hour on Sunday. He asked her "Are you going to be more opinionated, Erin Burnett, then you have been in your previous role as business correspondent?" She answered in the affirmative.
Jim Cramer, a Democrat and Wall Street insider, made a statement on CNBC's "Squawk Box" Friday morning that most definitely turned heads in the White House.
Speaking about the disappointing data released by the Conference Board, Cramer said that traders hate President Obama "like Jimmy Carter was hated" because they believe he's "destroying this country" (video follows with transcript and commentary):