Economy

Paul Krugman clearly isn't lacking in chutzpah. His January 11, 2008 New York Times column ("The Comeback Continent"; HT Tom Maguire via Instapundit) is yet another in a seemingly endless series of attempts by economic statists to convince people in the US that we need to be more like Europe -- specifically Western Europe -- and less like the growth-driven, market-based capitalists that we still…

The Treasury Department released its Monthly Treasury Statement for December this afternoon. Though Uncle Sam did run a surplus last month, the year-to-date figures are alarming: It should be pretty clear that the big news in the above figures is that federal spending during the first quarter of the fiscal year was almost 9% higher than during the first quarter a year ago. If the spending…

CNBC “Mad Money” host, resident ranter and stock-picker extraordinaire Jim Cramer can now add “media critic” to his list of duties. Over the past six months, Cramer has become a YouTube sensation for taking shots at Federal Reserve Chairman Ben Bernanke, including his infamous “They know nothing” rant on CNBC’s August 3 “Street Signs.” Today Cramer used his “Stop Trading” segment on CNBC’s “…

In an article about the status of Massachusetts's health care system on January 6, Associated Press Writer Steve LeBlanc seemed to be auditioning for a spot at the BBC. Until just a few years ago, when the cost, sanitation, treatment and other problems at the British National Health service (NHS) became so obvious that they could not be ignored, the BBC could be counted on to give glowing…

USA Today's Emily Bazar wrote a long article Wednesday ("Strict immigration law rattles Okla. businesses") on the early impact of Oklahoma's recently-passed immigration reform legislation, apparently now well-known as "1804," or "House Bill 1804, the Oklahoma Taxpayer and Citizen Protection Act of 2007, arguably the nation's toughest state law targeting illegal immigrants," which became effective…

Former Secretary of State Madeline Albright has been in the public eye as of late out promoting her latest book and attacking the Bush administration on everything from global warming to globalization. So much so, that the Republican National Committee has fired back in kind. Albright appeared at a Barnes & Noble in the Georgetown neighborhood of Washington, D.C. on January 9 to discuss…

This is worse than a case of calling a glass "half-empty" when it is "half-full." This is like taking the glass and pouring it out. Deirdre Bolton, an anchor for Bloomberg TV, appeared on CBS's January 9 "The Early Show" to report on a survey of economists Bloomberg conducted January 3-8 about whether or not a recession is in the immediate future of the U.S. economy. "[W]ell, as you said the…

It took a couple of tries, but CNN "American Morning" co-anchor John Roberts got Democratic presidential hopeful Barack Obama to admit what people probably already knew - Obama wants to raise taxes. Obama appeared in an interview with Roberts on the January 9 "American Morning" fresh off his second place finish in the New Hampshire Democratic primary. He told Roberts high taxes were in the…

California Gov. Arnold Schwarzenegger (R) is proposing a new insurance surcharge to plug a budget gap that conservative critics are calling a tax. And objectively speaking, it really is a tax. But the L.A. Times was careful to avoid attributing the T-word to the idea.Here's the teaser from the Times Web site's front page:Gov. urges levy on insuranceBy Marc Lifsher and Evan HalperPlan calls for 1…

You'll have to pardon me for just noticing this. It is after all, only Newsweek. January 5, 2008 Economy Unemployment hits 5 percent. Can you say the R-word? Of course, as fellow…

Got some hot stock plays for 2008? CNBC's David Faber thinks you should factor in the recession that hasn't yet happened when you adjust your portfolio for this New Year. CNBC "Squawk Box" contributor Faber warned investors on the January 7 "Squawk on the Street" that stocks reliant on business spending could hurt since a recession, he said, is imminent. "Business spending, concerns about…

A few months after cheering Martin O'Malley's successful push for tax hikes, the Washington Post's John Wagner is lamenting the Democratic governor may have to settle for a "modest" agenda in 2008 due to budget constraints.Don't hold your breath for similar concern about everyday Marylanders and how they may have to settle for more modest spending thanks to tax hikes, particularly a boost in the…

I've said this before, but it merits saying again: We'll know that the news we're fed every day by the wire services, "newspapers of record," and TV networks is fair, accurate, and complete when those in search of the full picture no longer have to go to the editorials of the Wall Street Journal and Investors Business Daily to fill in Old Media's yawning information and coverage gaps. Among the…