Stock Market

Tonight's report at the Associated Press in the wake of Wall Street's disastrous day isn't quite an Animal House moment — "Remain Calm! All Is Well!" — but it's more than fair to say that the wire service's Matthew Craft and Bernard Condon allowed quite a bit of wishful thinking into their writeup. In late June, I noted that the AP's Ken Sweet asked a very important question about China ("IS…

Based on how they handled it today, it's pretty obvious that the Associated Press's Ken Sweet and his wire service's headline writers want the lowest possible number of users of their reporting — consumers and subscribing print and broadcast outlets — to know about the mainland Chinese stock market's historically deep 8.5 percent Monday dive. It took four paragraphs for Sweet to get to the…

In their coverage Monday night of the debt crisis in Greece, ABC and NBC refused to label the current Greek government as socialist, far-left, or even left-wing with ABC neglecting to even explain why Greece has found itself in such a precarious position as they stand to possibly default on their billions of dollars in debt and/or leave the Eurozone. In contrast to both networks, the CBS Evening…

The world's financial markets had a terrible Monday. The debt crisis in Greece (population: 11 million) has been dominating the headlines and the press's attention, while serious deterioration in China (population: 1.36 billion) is getting short shrift. It isn't just that the mainland Chinese stock market has broken the bear-market decline threshold of 20 percent in less than three weeks,…

On May 1, the Associated Press's Paul Wiseman was pleased to tell the wire service's readers and subscribing outlets that "The University of Michigan's sentiment index rose to 95.9 from 93 in March," reaching "its second-highest level since 2007." Among other things, the survey's chief economist said that the result reflected "improving prospects for jobs and incomes." What a difference two…

As we know - America’s media is for the most part decidedly Leftist, often befuddled and rarely right.  So when they wade into an intricate issue like President Barack Obama’s Net Neutrality Internet power grab - we can only expect even more Leftism, befuddlement and wrongness. On February 26, the Obama Administration’s Federal Communications Commission (FCC) pretended to be Congress and rewrote…

A prominent exhibit explaining why the nation's trust in its media establishment has dropped to precipitous lows would likely include Tom Cohen's Thursday afternoon column at CNN expressing befuddlement over President Barack Obama's unpopularity. After all, Cohen's headline crows that under Obama we have "more jobs" and "less war" (!), so there's a "disconnect" which must be explained. To…

It looks like the "weather" excuse the press went to repeatedly to explain weak economic results in December, and January, and February, and March still has life in April. But this time, warm weather (which most of us would find "good," at least in April) is to blame. An early afternoon report (relevant portion saved here in graphic form) on the Dow's 200-point mid-day dip by the Associated…

Former U.S. Labor Secretary Robert Reich made a very curious statement on Monday’s Morning Joe. During a roundtable discussion on income inequality, former congressman Harold Ford Jr. (D-Tenn.) asked Reich what policies, besides raising the minimum wage, the government should employ in order to improve economic mobility and increase middle class purchasing power. [Video below. MP3 audio here…

One thing the establishment press will not be celebrating this evening as we head into 2014 is the fact that they have been unable to convince the American people that the economy has been and will continue to be on the rebound. A CNN/Opinion Research Corporation poll released on Friday, which "oddly enough" (no, not really) is not being touted at ORC's related press release web page, shows…

Former Federal Reserve Chairman Alan Greenspan made some rather ominous economic observations Sunday. Appearing on CNN’s Fareed Zakaria GPS, Greenspan said, “[T]he level of uncertainty about the very long-term future is far greater than at any time I particularly remember.” He blamed it on “government intervention [that] has been so horrendous that businesses cannot basically decide what to…

As I noted in a previous previous post today (at NewsBusters; at BizzyBlog), a CNNMoney.com email tried to spin a 0.4% decline in the Dow Jones Industrial Average and tiny drops of less than 0.1% in the S&P 500 and the NASDAQ into proof that the government shutdown and the "looming U.S. default" were having awful effects on investors. Given that the ADP Employment Report today was a…

NASDAQ.com says that the Dow Jones Industrial Average closed down 58.56 points today. The S&P 500 lost 1.13 points, while the NASDAQ lost 2.96 points. In percentage terms, those losses were 0.39%, 0.07%, and 0.08%, respectively. Even though there's usually a large element of speculation relating to why the broad markets go up or down on any given day, the pretend know-it-alls at CNNMoney.…

For weeks Americans have been told that if Congress and the White House didn't agree to a Continuing Resolution to fund the government when the new fiscal year started on October 1, an economic calamity would befall the nation. Well, the government officially shut down at midnight Monday, and markets all around the world don't seem to care.