Economy

ABC, CBS and NBC are consistent. Consistently willing to ignore economic news, that is. On May 30, the government released the latest estimate of how fast the economy grew in the first quarter. The 2.2 percent growth was just shy of analysts’ estimates, according to CNBC. It was the second estimate from the Commerce Department for the quarter.

Several recent polls, plus the popularity of Sen. Bernie Sanders, demonstrate that young people prefer socialism to free market capitalism. That, I believe, is a result of their ignorance and indoctrination during their school years, from kindergarten through college. For the most part, neither they nor many of their teachers and professors know what free market capitalism is.

The front of Monday’s New York Times featured socialist-spouting economics reporter Peter Goodman using Prescot, a struggling town in northwest England, as a cudgel for Margaret Thatcher bashing worthy of a Marxist professor: "After Years of Fiscal Belt-Tightening, England is Feeling the Pinch – Prolonged Budget Cuts Reshape British Life.” Goodman started hot and didn’t let up: "A walk through…

Jeff Bezos, owner of the left-wing Washington Post, is continuing his quest to expand his political influence. The Bezos-owned Amazon Studios is partnering with liberal celebrities to explain economics.

Knowing what CEOs make compared to their workers isn’t enough for the left, they also want to regulate it. One of the leaders of the class warfare left is deputy chair of the Democratic National Committee and congressman Keith Ellison. He told Bloomberg News on May 16, the government should “start talking about” regulating corporate pay. Bloomberg News anchors failed to push back or ask…

California is king when it comes to environmental regulations, but the latest decision to mandate solar panels comes at a high price. For homeowners. Those costs of freedom of choice and almost $10,000 higher construction expenses per home didn’t matter much to California’s proponents of solar panels or the liberal media which downplayed costs and critics when they mentioned them at all.

In its April 2018 Monthly Treasury Statement, the federal government reported that it ran an all-time single-month record $214 billion surplus, primarily because it took in a record $510 billion in receipts. The Associated Press's Josh Boak ignored the collections record, even though the AP noted the previous record when it occurred in 2015. Instead, Boak presented a different and far smaller out…

You don’t see this very much on network television: CBS This Morning on Thursday allowed a spirited defense of the free market. Home Depot co-founder Ken Langone appeared to promote his new book I Love Capitalism: An American Story. Co-host Bianna Golodryga quizzed Langone as to why Bernie Sanders prompted the billionaire to finally write his memoirs: “You said you were motivated because you saw…

On Wednesday, the California Energy Commission adopted "standards requiring solar systems for new homes" beginning in 2020. Kathleen Ronayne at the Associated Press published a virtual press release celebrating the move, and presented woefully incomplete information about the alleged financial benefits of this unelected body's latest move.

Media outlets been hyping the recent increase in retail gas prices to nearly $3 per gallon, and primarily pinning the blame on President Trump's withdrawal from the Iran nuclear "deal." In 2012, when the price approached $4, CNN told readers that they "aren't as bad as you think," and that they weren't "a big drag on the economy" — and besides, according to the New York Times, "Gas prices are out…

In spite of recent media attempts to speculate about when the economy might experience another downturn, a recent survey of global businessmen found a majority anticipate the U.S. economy to remain strong over the the next three years. Zurich Insurance Group, EY, and the Atlantic Council surveyed 497 CFOs in 30 countries and found most of them confident about U.S. investment. The survey was…

The media are treating the economy like a good-news/bad-news story. The good news is the economy is going well and unemployment is down to just 3.9 percent — the best since 2000. The bad news is ABC, CBS and NBC evening news programs don’t want to talk about it. ABC's World News Tonight, CBS Evening News and NBC Nightly News continued to supply minimal reporting of economic issues between April 1…

The press has mostly gone off the rails in covering President Trump's proposal to rescind $15 billion in unspent funds, insisting on characterizing the move as "cuts." The competition for the worst coverage is fierce, but Andrew Taylor's story at the Associated Press, as carried at the Washington Post, probably wins the prize for the most incoherent headline: "Administration proposes cutting $15…

Before the massive growth of our welfare state, private charity was the sole option for an individual or family facing insurmountable financial difficulties or other challenges. How do we know that? There is no history of Americans dying on the streets because they could not find food or basic medical assistance.