Economy

CNBC panelists and guests always make predictions in the minutes leading up to the Labor Department's release of the jobs report and June 3 was no exception. While economists Diane Swonk and Mark Zandi and CNBC's own Steve Liesman all made predictions of job gains between 100,000 and 150,000 - Rick Santelli threw his own lower prediction in just seconds before the announcement: 55,000. (…

MSNBC's Chris Matthews on Thursday got a much-needed economics lesson from CNBC's Joe Kernen. In the midst of a discussion about the economy and how it's going to impact the 2012 elections, the "Hardball" host bragged about having studied economics in grad school leading Kernen to marvelously ask, "You studied economics?" (video follows with transcript and commentary):

Is AP reporter Christopher Rugaber taking yours truly's admonishments to heart? Either he is, or there were a number of odd coincidences in his reports today (early; later) on the small drop in initial unemployment claims (to 422,000, from an upwardly revised 428,000 the previous week) reported by the Department of Labor this morning. Last week (at NewsBusters; at BizzyBlog), I criticized…

When National Review's Jim Geraghty noted on CNN Thursday that the national unemployment rate has been higher through Obama's two years in office than at any time during Bush's two terms, and that the news could hurt Obama in the upcoming election, CNN's Ali Velshi would have none of it. Velshi interrupted Geraghty and sternly rebuked his premise, decreeing that "with all due respect, that's…

In an exchange with Pat Buchanan on Thursday’s “Morning Joe,” MSNBC reporter Norah O’Donnell demonstrated just how out of touch she is when it comes to her view of the state of the American economy (video follows page break): 

In her lead story Wednesday, "Pressing Obama, House Bars Rise For Debt Ceiling," New York Times reporter Jackie Calmes accused Republicans of not understanding the debt limit while softening Democratic calls for higher taxes by portraying the Democrats as merely seeking "higher revenues." The House on Tuesday overwhelmingly rejected a measure to increase the government’s debt limit, acting on…

Warning: The following cop-out explanation by Associated Press Retail Writer Mae Anderson will make many readers' heads hurt. Knowledge that she found an economist willing to support it may cause migraines. Consumer confidence as reported by The Conference Board fell to 60.8 in May from 66.0 in April -- "unexpectedly," of course, as the headline for Ms. Anderson's article indicates. But…

Associated Press Economics Writer Paul Wiseman apparently exhausted his supply of adjectives to describe the current state of the U.S. economy, and came up with a new one. Today's news wasn't good. The Institute for Supply Management's Manufacturing Index plunged from 60.4% to 53.5%. While still indicating expansion (any value above 50% means that), it's the biggest one-month drop since…

Are deadly tornadoes really the best "stimulus" to be hoped for from the Obama White House, or is the New York Times just desperately looking for economics green shoots as the 2012 presidential elections approach? In any case, just 10 days after the deadly tornado hit Joplin, Missouri, Wednesday’s off-lead by Michael Cooper, "Reconstruction  Lifts Economy After Disasters – New Jobs Are…

Rep. Steny Hoyer (D-Md.) made a blatantly inaccurate statement on the "Daily Rundown" this morning that MSNBC anchor Chuck Todd should have, but failed to, call the House minority whip out on. "We went from a $5.6 trillion surplus that George Bush inherited to over a $11-plus trillion debt when George Bush left office," asserted Hoyer.

While Western media continue to rhapsodize about the "Arab Spring democratic revolutions" in the Middle East, it may be that the real democratic revolution is beginning to occur in the European Union and the United States. And if the timing is right, the crisis in the European Union may play a decisive part in tipping the American electorate against President Obama and the Democrats in our 2012…

Perhaps using a preemptive strike to help combat the May jobs report to be released on Friday, MSNBC has already found an excuse for lost jobs, and an increased unemployment rate – storms, tornadoes and flooding.  According to a business report: “…homes or places of business have been destroyed in this year's wave of storms, tornadoes and flooding. That means thousands of workers in the South…

File this one under: Imagine If The Partisan Tables Were Turned. On her MSNBC show this evening, Rachel Maddow repeatedly mocked Republican Senate leader Mitch McConnell as "little Mitch, the rodeo queen." Maddow was miffed over McConnell's arranging a Senate vote on the raising of the debt ceiling, and by extension the Republican position on Medicare reform.  And so, for about ten--…

This just in, by way of St. Petersburg Times fact-checking website Politifact: when considering irrelevant and misleading employment statistics, Texas has not, in fact, created more jobs in the past five years than the rest of the country combined. Sure, when considering the relevant numbers - the ones that most honest observers would use - the claim, made by the Texas Public Policy…