Economy

George H. W. Bush pooh-poohed “the vision thing.” Bernie Sanders wouldn’t have a presidential campaign without it. True, the Vermont senator is not known for his grasp of policy minutiae, to which Daily Kos founder and publisher Markos Moulitsas says, in effect, so what? Kos implied that Sanders has caught a lot more flak for his vague answers than Republicans do when they routinely “promis[e] …

Hey Hillary! You really need to do a better job of faking sincerity. That is the advice of Dave Johnson at the Huffington Post. Johnson is worried that in the general election Donald Trump, if he is the nominee, would be a lot more credible in his opposition to trade deals than Hillary Clinton who is merely faking it. What she needs to do to is put on a credible game face to get away with faking…

Solary energy company SunEdison filed for bankruptcy on Thursday. According to Reuters, the company's stock traded as high as $33.44 in July 2015. The stock closed at 22 cents today. Nine years ago, the company's market value was over $17 billion. According to the Associated Press, in July of last year it was still worth $10 billion. The losses aren't limited to investors, however, a fact that…

In Slate’s weekly “Political Gabfest” podcast, CBS News political director and Face the Nation host John Dickerson proclaimed that Hillary Clinton’s e-mail scandal is “a stupid issue” unlike the debate over a $15 minimum wage because that’s “the central question of the campaign, which is how do you help people with wages.”

As the Washington Free Beacon reported today (confirmed here in a chart published two weeks ago), the number of Americans enrolled in the Supplemental Nutrition Assistance Program (SNAP), traditionally known as Food Stamps, dropped below 45 million for the first time in almost five years (actually, 57 months) in January. This is hardly cause for cheer, and does nothing to change the fact that in…

On Sunday, I noted how the Associated Press wouldn't let the awful national news from the Federal Reserve on Industrial Production (second straight month of 0.6 percent contraction) stand alone without trying to offset it with phony evidence that U.S. manufacturing is showing "signs of stability." That "evidence" was primarily a positive manufacturing survey result from just one state: New York.…

Appearing as a guest on Wednesday's Fox and Friends, Milwaukee County Sheriff David Clarke slammed "liberal Democrat mayors" for mishandling crime and the economy in their cities, and accused Democratic presidential candidate Hillary Clinton of "pandering" to black voters in a recent appearance on a radio show, as he asserted that her behavior is "dehumanizing, it's embarrassing, it's disgusting…

On April 1, the Associated Press, in an online video which I covered in an April 2 NewsBusters post, interviewed three California business owners about the impact the state's just-passed $15-per-hour minimum wage would have on their businesses. Though the video was headlined "Small Businesses React to Calif. Wage Increase," the owners interviewed weren't representative of the whole state in any…

In another blow to the U.S. and worldwide economy, chipmaker Intel announced today that it is reducing its worldwide workforce by 12,000 people, a cut of 11 percent. Of course, there are tech-related reasons why the company made the move, most notably the shift by some users to tablets and smartphones, where the company's market penetration has been weak and almost non-existent, respectively, as…

Has Newsweek just admitted to something the rest of the press knows but won't acknowledge? In promoting its insufferably fawning portrayal of California Governor Jerry Brown, the weekly magazine tweeted that Brown is "arming California to meet an economic recession head-on." Recession? What recession?

Kevin Drum thinks he understands Hillary Clinton’s reluctance to release the transcripts of her Goldman Sachs speeches, and it has more to do with attacks she might face during the fall campaign than it does with Bernie Sanders. Drum believes it’s “vanishingly unlikely” that the speeches include “something genuinely damning,” but noted in a Saturday post that “when you give speeches to any…

The government reported this morning that seasonally adjusted March housing starts and building permits fell by 8.8 percent and 7.7 percent, respectively, far worse declines than analysts and economists predicted. After the report, the business wires at least communicated the facts accurately, but continued to insist almost to the point of editorializing that there's no reason to be worried…

Longtime readers know that if the current stagnating economy were occurring during a Republican or conservative presidential administration, the press would be searching high and low to find a "respected" economist or analyst forecasting the beginning of an economic contraction while screaming that a recession is just around the corner. Instead, the business press has stuck to saying that "most…

Key data about the U.S. economy's performance released this past week was mostly dismal. Wednesday brought news that seasonally adjusted March retail sales, instead of climbing as predicted, fell by 0.3 percent. Later that morning, the government reported that manufacturing and trade inventories and sales both fell in February. The worst news came on Friday, when the Federal Reserve reported…