Wages & Prices

The economy isn’t doing well, correct? The average American is going backwards, right? Isn’t that all we heard before the elections?Well, in another post-election stunner, the Christian Science Monitor has chosen to share the truth with Americans, sadly almost two weeks after the nation went to the polls. In an article amazingly titled “A brisk rise in American wages; Pay rose faster than the…

Lou Dobbs must be perfecting his “Stewie Griffin" impression. “Victory is mine,” he seemed to gloat to viewers as with smug delight CNN populist gadfly and resident protectionist applauded the passage of six minimum wage increases in states ballot booths across the country. Before the election, Dobbs was quite active in pushing such an increase both on his show and in his book, “War on…

Just four days before the election, the network news shows downplayed reports of a major drop in the unemployment rate and the creation of 231,000 new jobs. CBS’s Katie Couric groused, “But do the jobs out there pay enough?” NBC’s Brian Williams declared, “That was below expectations,” and ABC’s Charles Gibson gave the issue a total of 15 seconds.That wasn’t the way the networks handled bad news…

I looked around when I heard someone crying, and there was Pollyanna bawling her eyes out. That's how depressing was the one-two punch of pessimism in Paul Krugman's and Bob Herbert's New York Times pay-to-peruse columns of today.Just in time for the elections, the pair paint a picture of America so dreary you half-expected the Google logarithm to place Prozac ads on the page. Krugman tries to…

Those of us that study the economy and how it is reported by the drive-by media are constantly amazed by how those covering financial issues continually misrepresent statistics to advance their agenda. No finer recent example has occurred than on “The Chris Matthews Show” Sunday when the host bemoaned new highs set by the Dow Jones Industrial Average last week as not accurately reflecting what is…