Economy

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…

Joe Scarborough said it about Rick Perry, but it could perhaps have applied to other Republican presidential contenders who are going after Mitt Romney's record at Bain Capital. On Morning Joe today, discussing Perry's depiction of venture capitalists like Romney as "vultures," Scarborough said that the Texas governor: "sounds like a stoned NYU grad student in Zuccotti Park."  Video after…

Last week's column started off asking: "What human motivation gets the most wonderful things done?" The answer is that human greed is what gets wonderful things done. I wasn't talking about fraud, theft, dishonesty, special privileges from government or other forms of despicable behavior. I was talking about people trying to get as much as they can for themselves. Think about greed and racial…

On Wednesday's CBS This Morning, Charlie Rose acknowledged the widespread spinning of Mitt Romney's "I like to fire people" remark. The anchor asked Romney, "Do you regret the firing comment because of the way it was interpreted by some?" The previous morning, Rose's colleague, Bob Schieffer, was one who spun the GOP candidate's line, claiming it was just shy of saying "Herbert Hoover is my…

Bob Schieffer slammed Mitt Romney on Tuesday's CBS This Morning for his recent "I like to fire people" line, stating that he was "looking for every way he can try to lose and drive down his percentage of victory." He added, "I guess the only thing worse you could say...when people are out of work is that Herbert Hoover is my hero or something like that. It just boggles the mind." Right after…

That wasn't a television appearance, that was a cry for help. Dylan Ratigan was a guest on MSNBC colleague Rachel Maddow's show last night, ostensibly to plug his new book, "Greedy Bastards! How We Can Stop Corporate Communists, Banksters, and Other Vampires From Sucking America Dry" and to condemn Mitt Romney as a free-market predator.  (video clip after page break)

It's more than a little annoying to read a news report containing incomplete information. The irritation level hits the red zone when you realize that the writer is not only concealing important data, but telling you what you're supposed to think about what little he deigned to tell you. Such was the case with Martin Crutsinger's Associated Press item about the Consumer Credit report issued…

In an early-Sunday version of an Associated Press report which has since been revised to exclude the paragraph I'm about to cite, the wire service's Steve Peoples (authorship shown here) apparently had a hard time understanding how Republican presidential candidate Mitt Romney could possibly have criticized President Barack Obama's economic stewardship in Saturday's New Hampshire debate in…

Here is the operating motto of the Obama White House: "So let it be written, so let it be done!" Like Yul Brynner's Pharaoh Ramses character in Cecil B. DeMille's "The Ten Commandments," the demander in chief stands with arms akimbo issuing daily edicts to his constitution-subverting minions with an imperious wave of his hand. His entourage of insatiable usurpers never rests. Can't delude…

A frequent BizzyBlog commenter tweeted about an online article he saw at CNNMoney.com entitled "Doctors going broke" about how many doctors are struggling in the current economy. His tweet: "Welcome to Obamacare." A frequent BizzyBlog commenter tweeted about am online article he saw at CNNMoney.com entitled "Doctors going broke" about how many doctors are struggling in the current economy.…

Even with recent "improvements" which are still weak when compared to other post-World War II recoveries and which, as shown yesterday (at NewsBusters; at BizzyBlog), are less substantive than December's two major reported numbers (unemployment rate of 8.5% and seasonally adjusted job additions of 200,000) would indicate, it seems fairly likely that the nation's unemployment rate will be higher…

The headline New York Times (HT Clay Waters at NewsBusters) after yesterday's job report was: "U.S. Economy Gains Steam as 200,000 Jobs Are Added." At the Associated Press: "Nation adds 200,000 jobs in December hiring surge." Telling millions of news consumers that it's so doesn't make it so.

Reporter Shaila Dewan saw a “head of steam,” enough “to cheer President Obama as he enters an election year,” in Labor Department figures released Friday morning showing the U.S. unemployment rate fell from 8.7% to 8.5%: “Economy Gains Steam as 200,000 New Jobs Added.” Does this mean Dewan will no longer ask, as she did in a 2009 story, "Weren't we working too much, anyway?"

Indiana House of Representatives Democrats could incur fines for every day that they refuse to show up to work. Democratic caucus members have threatened to fail to report for duty as a protest against a Republican bill that would make Indiana a right-to-work state. Reporting the story for the Associated Press today, Tom LoBianco (available here on Twitter) heavily weighed down his report…