Economy

From the same organization that gave us the ‘lives touched’ method for calculating stimulus job creation, the Department of Energy (DOE) has now stumbled upon a whole new way to increase employment.  The Environmental Protection Agency on Wednesday announced that they are investigating ‘an uncontrolled spread of radioactive material’ at the Knolls Atomic Power Laboratory in Niskayuna, New…

Good Morning America's Claire Shipman on Thursday tried to disguise a Democratic activist as just a jobless American who would be hurt by Republican failure to extend unemployment benefits. Shipman sympathetically recounted that Edrie Irvine, who she didn't explain spoke at a Nancy Pelosi press conference on Wednesday, "never thought her very livelihood would depend on a political debate in…

Chris Matthews on Wednesday called Republicans that are skeptical of man's role in global warming Luddites, referring to the 19th century movement in Great Britain that was opposed to changes associated with the Industrial Revolution. Clearly missing the absurdity in his analogy, the "Hardball" host arrogantly stated (video follows with transcript and commentary):

In no uncertain terms, Rush Limbaugh (link will become unavailable in seven days) ripped into an Associated Press report today on the alleged perils of allowing unemployment benefits to expire for what the Labor Department says is nearly 2 million unemployed: I have not had one class in economics since high school in the 1960s -- not one -- and I understand more about this through my own self…

Playing the role of negotiator for the Democrats, Good Morning America's George Stephanopoulos on Tuesday pressed Senator John McCain to "move the President's way" on extending the Bush tax cuts. He also oddly spun such a continuation as a "tax cut" for millionaires. The ABC anchor lobbied McCain, asserting, "[Obama] moved your way on this freeze of all pay for federal workers. Are you…

This would be really funny if it weren't for the fact that so many supposedly informed people, including our president and those who surround him, may actually buy into ideas being proposed at the United Nations-sponsored Cancun climate conference, and will relish the means by which they could be put into place. At the UK Telegraph today, environment correspondent Louise Gray feeds us the…

There are times when one has to think the Manhattan building that is the home of the New York Times doesn't have any windows, doesn't have any television sets, and doesn't have any doors that allow employees to venture out and actually see what's happening in America beyond the walls of 620 Eighth Avenue. Consider that after the impact the Tea Party has had on our nation's politics the past…

There are many annoying aspects of the sea change in media coverage of the economy since Barack Obama became president. At or near the top of the list is how the business press has downplayed the unprecedented housing industry disaster, while lowering the bar that will supposedly represent a real recovery to ridiculous levels. According the the Census Bureau (12-page PDF), 23,000 new homes…

In separate reports for the Associated Press during the past week, Christopher Rugaber and Jeannine Aversa, economics writers for the wire service, each dealt with estimates for next year's average unemployment rate. They came back with significantly different predictions for 2011 without recognizing how widely those estimates varied. On Tuesday, Rugaber dealt with the Federal Reserve's…

When I first saw this video at a non-Government/General Motors site, I said, "Wow, that's quite a spoof. Who did that?" It's not a spoof. It's for real. It's posted in the media section at GM's web site. Even diehard defenders of the GM and Chrysler bailouts have to wonder what in the world the folks who put together the 60-second ad were thinking. Here's the hype for the ad found at GM's…

Ed Schultz on Tuesday falsely accused Fox Business Network contributor Charles Payne of recommending people on unemployment lines eat each other to survive. Such ironically occurred on the "Psycho Talk" segment of the "Ed Show" (videos follow with partial transcripts and commentary):

This is the sixth year I have looked into how the media treats these two topics: The use of "Christmas shopping season" vs. "holiday shopping season," and the frequency of Christmas and holiday layoff references. I have done three sets of simple Google News searches each year -- the first in late November, followed by identical searches roughly two and four weeks later. A graphic containing…

When it comes to business reporting, the media often tow a pro-bigger government line at the expense of the private sector. Profit-motivated businessmen are often portrayed as much less sympathetic than the allegedly altruistic souls that comprise the nation's core of politicians and bureaucrats. But from time to time, a news outlet does shine a spotlight on just how much of a pain in the…

Former Clinton labor secretary Robert Reich made a couple of rather startling comments on ABC's "This Week" Sunday. During the Roundtable segment, the devout liberal not only defended former governor Sarah Palin as a "realistic candidate" for president, but also questioned whether or not the government bailout of GM was necessary (video follows with transcript and commentary):