Deflated: Brady Scandal Gets 5 Times More Coverage than China Economy
Business
The downward spiral of China’s economy has sent U.S. stocks plunging wildly. The Dow dropped 1,000 points as the market opened Aug. 24, but stocks were rebounding by midday according to MarketWatch.
MarketWatch reported that day, “Chinese equities surrendered all of their gains for 2015, and a rout in the U.S. on Friday that capped the worst week for the market in four years. Investors are…
After Market's Disastrous Day, AP Makes Several Wishful Assertions
Tonight's report at the Associated Press in the wake of Wall Street's disastrous day isn't quite an Animal House moment — "Remain Calm! All Is Well!" — but it's more than fair to say that the wire service's Matthew Craft and Bernard Condon allowed quite a bit of wishful thinking into their writeup.
In late June, I noted that the AP's Ken Sweet asked a very important question about China ("IS…
Crickets: Fed Official Finds No Evidence That QE Accomplished Anything
Imagine if, in 1987, a Federal Reserve official could have pointed to a poorly performing economy and said, "Gee, this supply-side economics hasn't worked out very well." The press would surely have treated the story as a front-page item and ensured that it got air time on the Big Three networks' then-dominant nightly news broadcasts. Of course, there was no such credible report, because the…
MSNBC.com Trolls with 'Is God Anti-Capitalist?' Headline
The award for trollish headline of the day should go to MSNBC.com.
Blogger: Right Says 14th Am. Covers Only ‘Corporations and Fetuses'
The three Reconstruction Amendments to the Constitution were, as the term suggests, ratified in the wake of the Civil War. These days, according to Daily Kos writer Jon Perr, conservatives are generally OK with the anti-slavery 13th Amendment but have watered down the 15th, which abolished racial restrictions on voting, and reserve their “greatest and most visceral…scorn” for the 14th, as…
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CBS, NBC Fail to Cover IRS Data Breach, Feds Approving Arctic Drilling
In Monday evening’s edition of network bias by omission, CBS and NBC neglected to stories concerning a data breach of American taxpayers at the scandal-ridden IRS and the Obama administration finally giving approval for a major oil company to begin oil drilling in the Arctic off Alaska’s coast. Surprisingly, ABC’s World News Tonight picked up the pieces and provided their viewers with coverage of…
AP Finds No Policy-Driven Causes Why Millennials Can't Buy Homes
Several commenters at my econ-related posts during the past several months here at NewsBusters and my home blog have noted how Washington's mix of high deficits, over-regulation, and quantitative easing never seem to get any kind of blame for the economy in establishment press coverage.
One could hardly find a better example of that deliberate avoidance than Josh Boak's writeup today at the…
Japan's Economy Contracts Again; Press Prescribes Even More 'Stimulus'
Japan, once a feared world economic powerhouse already at "two decades of little or no real economic growth," just reported that its economy contracted during the second quarter at an annual rate of 1.6 percent. The common thread throughout the two-decade slump has been the alleged need for ever-increasing levels of Keynesian "stimulus." Apparently refusing to believe there are any other…
AP Claims Social Security System Has 'Money,' Then Admits It Doesn't
Carrying water for the left as their pet programs implode while pretending to be an objective reporter is a daunting task. The Associated Press's Stephen Ohlemacher was not up to that task Thursday afternoon. Twice, in relatively early paragraphs of his 31-paragraph writeup, the AP reporter claimed that the Social Security system has "money." He then separately quoted a Democratic congressperson…
AP Revises Job Growth Description From 'Seemingly Robust' to 'Solid'
It "seems" that a bit of doubt seeped into an economy-related Associated Press report today. An hour later, it was gone.
An early report by Josh Boak with a 10:22 a.m. time stamp found at a subscribing outlet's site described job growth in the past 12 months as "seemingly robust." An hour later, in an expansion of that early report primarily covering today's government release on July retail…
Blogger: Trump a Product of the ‘Loud…Stupid’ Reagan Era
There’s going to be a Top Gun sequel, Lifestyles of the Rich and Famous is coming back, and Bloom County has already returned. Still, suggests Esquire's Pierce, when it comes to things that have the 1980s written all over them, these days Donald Trump is the king of the mountain.
In a Tuesday post, Pierce contended that Trump “was one of the purest products of the Age of Reagan, which was…
AP Predictably Ignores All-Time One-Month Govt. Spending Record
Records are made to be broken, but apparently government spending records are not meant to be reported. The Monthly Treasury Statement released today showed that the federal government spent a mind-boggling $374.86 billion in July. That's an all-time single-month record, surpassing the previous high of $369.39 billion "achieved" in August 2012. Yes, there was a calendar "quirk" which caused this…
MSNBC's Lawrence O'Donnell Calls Scott Walker A 'Bad Socialist'
In his MSNBC show The Last Word Tuesday evening, Lawrence O’Donnell dedicated a segment to describing his opinion of what “good and bad socialism” looks like. Naturally his example of “good” socialism included the man and policies Bernie Sanders. It also included a 6 year old cover from Newsweek magazine that proclaimed “We Are All Socialists now,” which detailed how it's becoming normal (and…
AP, Reuters Ignore Likely Impact of Bloated Inventories on Growth
Two wire service dispatches covering the government's June Wholesale Sales and Inventories release either glossed over or completely ignored what others are saying about the report's impact on near-term economic growth.
The final sentence of an unbylined Reuters report vaguely referred to future impact by indicating that current inventory balances, which are bloated by historical standards, "…
