CNN Money's Censky Understands But Understates White House Economic Fo
Give credit to CNN Money's Annalyn Chensky for intuitively recognizing the ridiculousness of the economic projections included in the White House's Mid-Session Review released today. That especially goes for the assumption that full-year economic growth in 2012, with the first and second quarters coming in at an annualized 2.0% and 1.5%, respectively (the latter subject to revisions which…
More Grading on the Curve: At RTT, Acceptable Weekly Unemployment Clai
The Department of Labor reported today that initial claims for unemployment benefits increased to 362,000 from an upwardly revised (as usual) 354,000 the previous week. Expectations were for a reading of 351,000 (Business Insider's email) or 352,000 (Bloomberg).
Over at the Associated Press, also known as the Administration's Press, the headlined reaction in its 9:17 a.m. report was: "…
Press Celebrates Unemployment Claims Drop Below 400K, Ignores Track Re
Two "alert" emails hit my inbox this morning concerning the Department of Labor's just-released unemployment claims report.
The one I expected came from CNNMoney.com, which read: "Initial unemployment claims fall below 400,000 for the first time in more than 3 months, dropping 24,000 to 398,000 in latest week." The other one came from USAToday.com, which does not ordinarily issue alerts when…
Pathetic: CNN Claims Tuesday Stock Market Rise Entirely Due to Obama
In a USA Today email I received 20 minutes after Tuesday's closing bell, I was informed that the exceptionally good day occurred because the stock markets were "buoyed by strong earnings reports by IBM, Coke and others." A visit to the email's linked article also partially attributed the rise to "renewed hopes that U.S. lawmakers would be able to break their stalemate and strike a deficit-…
