Wages & Prices

In February, in the build up to the ultimate passage of President Barack Obama's $787-billion stimulus package, there was a lot of discussion about how much the stimulus was going to help the ailing economy. And to promote the bill, Obama visited a Caterpillar plant in Peoria, Ill. Rep. Aaron Schock, R-Ill., who represents the 18th Congressional District of Illinois, where the Caterpillar plant…

Here we go again - another Obama administration/media personality feud in the works. White House Press Secretary Robert Gibbs has no problem addressing media critics of President Barack Obama - even on an individual basis. Since Obama was sworn in as president, Gibbs has addressed criticism from conservative radio host Rush Limbaugh, CNBC mercantile exchange floor reporter Rick Santelli and now…

Sigh. Here we go again. First it was our capitalist society deemed gone as Newsweek magazine declared, "We're socialists now." This time - it's the death of supply-side economics, according to Newsweek Senior Editor Daniel Gross. To sum it up, Gross declared tax cuts obsolete, a theory that only works on paper, in a time when employers come and go and institutions aren't stable like they once…

Everything is wonderful and peachy-keen in Obamaland if you rely on the reporting on the front page of The New York Times. Just ask CNBC's Jim Cramer. On his Feb. 12 program the "Mad Money" host dealt with the $789 billion stimulus package. "Now if you were to believe what's in the papers, holy cow - except for the funny papers - you would think this package was wonderful," Cramer said he said…

How could anyone take a principled stand against the $789 billion economic stimulus bill? Any opposition to this massive expansion of the federal government must be sheer political posturing. Or so said Newsweek magazine's Jonathan Alter. Alter said on MSNBC's Feb. 11 "Countdown with Keith Olbermann" that congressional Republicans oppose the stimulus bill based on an ill-conceived, low-…

It's a question we've all been waiting to hear answered. Unfortunately, it took a conservative talk radio host to ask it and didn't come from the mainstream media. In an interview with Republican Sen. Arlen Specter, Pa., on Feb. 9, talk show host Laura Ingraham asked why he and Sens. Olympia Snowe and Susan Collins are the only three out of 229 Republican members of Congress to support the…

Say goodbye to hope and change. It's time to embrace the politics of doom and gloom. MSNBC host Contessa Brewer, in an interview that seemed a lot like a lobbying campaign for the stimulus set for a vote in the U.S. Senate, quizzed Sen. John Barrasso, R-Wyo., about the possibility that his vote against a stimulus bill could send the country spiraling into a Depression - and endanger the public's…

He might be on the Forbes list of billionaires with a net worth of $1.3 billion and he may appear frequently in the financial media, but Pimco's Bill Gross doesn't have a grasp of how much "trillions" are. Gross recently called for a massive government intervention or face certain catastrophe.  "This economy requires support from the government, a check from the government in some form or…

Don't like the notion of Wall Street employees receiving bonuses? Shoot the messenger - as Adam Green at The Huffington Post has done. In a Feb. 2 post on The Huffington Post, Green said it was bad form for CNBC "Street Signs" host Erin Burnett to even think about considering the other side of the anti-Wall Street bonus argument, since some Wall Street banks received TARP funds, courtesy of the…

With all the populist sentiment generated from the economic slowdown by politicians, CNBC "Mad Money" host Jim Cramer is seeing eerie similarities with the comments of President Barack Obama and the words of a communist revolutionary. Cramer, appearing on MSNBC's Feb. 2 "Morning Joe," drew comparisons between remarks between the first head of the Soviet Union, Vladimir Lenin, and Obama. Obama…

Being an outspoken conservative in the media has proven dicey lately, as the Democrat-controlled Congress and White House are working toward seeing an $819 billion stimulus bill signed into law. According to Ann Coulter, there has been a double standard applied to those outspoken conservatives. Coulter appeared on the Fox News Channel's "America's Newsroom" on Jan. 30 to promote her new book, "…

You've heard it here, there and everywhere in the news media - the time is now for a big-government economic stimulus package, not only to revive the economy, but to salvage America's crumbling infrastructure. That's one of the selling points used over and over again by pundits, as they are paraded out repeatedly on broadcast and cable network news programs - that so-called "shovel-ready"…

Here are the key numbers (in red) in Uncle Sam's November Personal Income and Outlays report (the July : Common sense says that the chart's results after adjusting for inflation are more important (identified as "Chained [2000] dollars") than those in current dollars. Consmers' disposable income went up 1.0% in real (after-inflation) terms in November after a 0.7% increase in October. It took a…

Sure, its revenues might be plunging along with its share price, but the New York Times is still good for something.  In these somber days of winter, the Gray Lady, her name notwithstanding, can still inject the sunshine of humor—albeit of the unintentional variety.Take its current editorial, Getting Immigration Right -- please. With jobs at a premium and the collapse of the Big Three automakers…