Housing

To his credit, the Washington Post's Zachary A. Goldfarb reported yesterday that the Obama administration is possibly repeating the same policy mistakes that sank the housing market.   To get to the heart of the matter, our national housing bubble quickly inflated as a result of too many people with poor credit buying homes that they couldn’t afford.  As that number multiplied, banks created…

New York Times columnist Paul Krugman and MSNBC's Joe Scarborough had an at times heated discussion about budget deficits, debt, and the economy on PBS's Charlie Rose Monday evening. At one point Krugman got so rattled by the facts that he actually said Scarborough quoting what he had said in the past was making an ad hominem attack against him (video follows with transcript and commentary):

"We're all socialists from the day we're born. You know, you don't have to be poor or unemployed to be on Welfare. We're all at the trough. We're all Welfare queens." So said TIME magazine executive editor Michael Duffy on the syndicated Chris Matthews Show Sunday (video follows with transcript and commentary):

It appears not everyone in America is as enthralled with Barack Obama's economic policies as his fans in the media. When NBC Tonight Show host Jay Leno made a joke about the president not understanding economics, the studio audience cheered, applauded, and whistled (video follows with transcript and commentary):

Rick Santelli made a stunning observation Wednesday about the shocking report that the economy actually shrunk in the fourth quarter last year. "We are now Europe," he declared on CNBC's Squawk Box.

Here’s something I bet you thought you’d never see at the perilously liberal Huffington Post. In a Dean Baker article published Tuesday with the astonishing title “There Is No Santa Claus and Bill Clinton Was Not an Economic Savior,” the second sentence read, “Just as little kids have to come to grips with the fact that there is no Santa Claus, it is necessary for millions of liberals,…

Actor and activist Ed Asner is the narrator of a new video called “Tax the Rich: An Animated Fairy Tale.” It was produced by the California Federation of Teachers (video follows with transcribed highlights and commentary):

The real news in today's new-home sales information published by the Census Bureau is that September's previously reported 389,000 in seasonally adjusted annual sales was written down by over 5 percent to 369,000. Hmm -- The higher figure, aggressively touted as the highest in 2-1/2 years by the Associated Press and other establishment media outlets, was reported on October 24, just 13 days…

It was almost a month ago that the New York and New Jersey coastlines were mercilessly pummeled by Hurricane Sandy. Immediately following the storm, the liberal media spin went into overdrive commending the leadership and compassion Obama displayed in the aftermath. But reports have been surfacing since the election, revealing how conditions in the afflicted regions are still not much improved…

Nuns on the Bus tour leader Sister Simone Campbell appeared on MSNBC's The Cycle on Thursday afternoon to discuss her ministry, which predictably led to her left-wing agenda becoming the focal point of the conversation. The only host to take issue with her talking points was token conservative S.E. Cupp, who was armed with facts and figures that the good sister could not rebut except by…

The Associated Press, Bloomberg and Reuters all eagerly told readers today that the seasonally adjusted annualized level of single-family home sales in September of 389,000 was the highest in 2-1/2 years and really, really good news for the housing market, the economy as a whole, or both. What they all "somehow" failed to mention was the fact that sales are still far below where they were…

One really wonders if there is any adult supervision in the department where CNNMoney's business headline emails originate. There certainly isn't much knowledge of the general business environment or of the recent history of the housing market present, because if there were, the following email would almost certainly never have been published -- or if the message had somehow escaped by…

Once again, a reporter from the Associated Press, aka the Administration's Press, has told a major fib about the situation in the new-home construction industry, thereby vastly exaggerating its degree of improvement -- claiming a 60% surge during the past nearly 3-1/2 years when it has been 15% at most. Today's figures from the Census Bureau on housing starts weren't terrible, but they surely…

The Associated Press's Anne D'Innocenzio is clearly mystified and possibly even upset that consumer confidence as reported by the Conference Board on Wednesday fell sharply to its lowest level since November of last year. Get a load of the second paragraph's first sentence in the version D'Innocenzio posted late yesterday morning shortly after the report's release, followed by asinine…