Economy

Today, as the wire service AFP reported in a story carried at Yahoo.com, Federal Reserve Chairman Ben Bernanke, in the question and answer exchange after his prepared testimony, told the House Financial Services Committee that "If we were to tighten (monetary) policy, the economy would tank." That assessment of the economy's fragility qualifies as news, especially given the Obama…

Whatever they're paying Teresa Ghilarducci, who is "the Bernard L. and Irene Schwartz chair of economic policy analysis at the New School for Social Research," it's too much. The bolded sentences seen after the jump which Ms. Ghilarducci included in a Friday New York Times op-ed (HT "Mungowitz" at the "Kids Prefer Cheese" blog via Megan McArdle) makes my contention an open and shut case (…

On ABC's This Week yesterday, former New York Governor Eliot Spitzer -- who resigned in 2008 when caught dead to rights illegally purchasing the services of prostitutes but was never prosecuted because, as announced two days after Election Day in 2008, the Department of Justice decided that "the public interest would not be further advanced by filing criminal charges" -- called the verdict in…

New York Times columnist Paul Krugman takes positive glee in attacking Republicans on almost a daily basis. In a piece published Monday entitled "Hunger Games, USA," Krugman disgracefully said the GOP "takes positive glee in inflicting further suffering on the already miserable":

This one is a lead candidate for top placement in this week's "Even a stopped clock is right twice day" file. MSNBC's Michael Smerconish, whose NewsBusters archive exposes him as a Barack Obama-supporting, right-wing conspiracy-mongering faux conservative, had a perhaps surprising reaction to the District of Columbia City Council's 8-5 vote to force Walmart and other big box retailers in the…

On Thursday, my colleague Jeffrey Meyer noted how the Washington Post's Mike DeBonis failed to explain to readers how unionized retail outlets would benefit from an exemption in the cynically-titled Large Retailer Accountability Act, the D.C. Council bill that would require large retail chains like Walmart to pay employees at least $12.50/hour. Today, to their credit, Post editors did publish…

A friend of mine and I separately received an email from the Department of Labor yesterday which made both of us to ask the same question: Why would anyone want to start up or expand a business and hire employees in the current hostile atmosphere? DOL's release, positioned as part of its celebration of the 75th anniversary of the Fair Labor Standards Act, announces a contest which it calls…

A series of reports at the Associated Press following Texas Gov. Rick Perry's announcement that he would not seek another term can only be explained if their purpose is to poison his possible 2016 presidential aspirations. In doing so, the AP is from all appearances firing the opening shots in a campaign to duplicate the establishment press's tragically successful efforts to marginalize Perry and…

The July 9 broadcast of Now with Alex Wagner wouldn’t be complete without a panel discussing Texas State Senator Wendy Davis – and the abortion battle in Texas. Yet, it reached a new level with New York Times op-ed contributor Beth Matusoff Merfish declaring that she was “proud” her mother underwent an abortion since “she had the wisdom and the courage to know that her own potential would be…

The flaming water faucet shown in the anti-natural gas drilling film “Gasland,” has become the first thing many people think of when they hear of gas drilling, or “fracking.” But that claim turned out to be completely wrong. Investigators determined that Colorado water well had been drilled into a pocket of methane and had nothing to do with fracking. Josh Fox’s follow up, “GasLand II” debuted…

In a Sunday morning story which will likely have limited reach, and will then probably be considered old news by the time the business week resumes tomorrow, the Associated Press, aka the Administration's Press, finally got around to recognizing a trend on which yours truly and others have been commenting for at least 2-1/2 years: the surge in employment at temporary help services. That the…

It wasn't a tough prediction, but late Friday morning Noel Sheppard at NewsBusters noted the seemingly "metaphysical certitude the Obama-loving media will be falling over themselves in the next 48 hours to report the better than expected jobs numbers in June." Well, of course. Noel also wondered how much attention the press would pay to less than desirable aspects of yesterday's jobs report…

It seems a metaphysical certitude the Obama-loving media will be falling over themselves in the next 48 hours to report the better than expected jobs numbers in June. But will they expose the poor quality of those jobs, or just stick with the headline number?

How does a multi-millionaire plutocrat earn good press from the New York Times? Apparently, espousing some of the far-Left's most radical economic theories is a good start. This morning's paper (B-1) carries an adoring profile of Warren Mosler, who reporter Annie Lowrey brands as a "card-carrying member of the 1 percent....But his prescriptions for economic policy make him sound like a…