As Income Gains Almost Evaporate, AP Is Rooting For Higher Inflation

March 16th, 2016 11:51 PM
The government's Bureau of Labor Statistics reported today that consumer prices fell 0.2 percent in February. Lower prices should be good news, right? Wrong, at least according to Martin Crutsinger at the Associated Press. Crutsinger's Wednesday dispatch also managed to ignore the fact that even the supposedly low inflation seen during the past 12 months has eaten up most of workers' very…

Networks Censor El Chapo Gun Being Linked to Fast and Furious

March 16th, 2016 11:15 PM
On Wednesday night, the top English broadcast networks and Spanish-language network Univision failed to cover news that the Justice Department had finally confirmed that a gun in possession of the now-captured Mexican drug lord El Chapo was linked to the scandal-ridden Operation Fast and Furious.

AP Lauds Tiny Manufacturing Pickup, Avoids Sharp Total Production Drop

March 16th, 2016 4:11 PM
The business press's determination to convince the public that weak economic news is really strong seemingly knows no bounds. Today, shortly after the Federal Reserve's Industrial Production report for February showed a seasonally adjusted 0.5 percent decline — worse than expectations of -0.3 percent — the Associated Press pretended in its headline and in reporter Christopher Rugaber's first…

AP, As Retail Sales Fall: Americans 'Reluctant to Open Their Wallets'

March 15th, 2016 3:22 PM
Today's report from the government on February's retail sales was awful. Last month's sales fell by 0.1 percent, which was bad enough. Beyond that, January's originally reported 0.2 percent increase was revised down to a 0.4 percent decrease. Additionally, as I noted at my home blog this morning, January's seasonally adjusted revision should have been much worse, based on how terrible that month'…

Paper: Trump Rally Cancelled Because 'His Supporters Became Violent'

March 14th, 2016 9:01 AM
Layers of editors and fact-checkers at the Columbus (OH) Dispatch and others involved in its production "somehow" failed to detect the creation of an obviously false caption to a campaign rally photo of Donald Trump taken by a St. Louis Post-Dispatch photographer. The photo, taken on Friday at Trump's St. Louis appearance by the Post-Dispatch's David Carson, had the following caption, apparently…

AP Has Falsely Cited 'Perked Up' Sales at Wal-Mart Since Last Summer

March 13th, 2016 10:53 PM
Retail giant Wal-Mart Stores Inc. apparently got on the good side of the Associated Press a year ago when it announced that would be raising entry-level wages. Since that announcement, AP, in particular wire service reporter Anne D'Innocenzio, has been excusing the company's relatively poor financial performance while complimenting it for a virtually imaginary "perk up" in sales. Falling profits…

CNN Money: Voter Anger Has 'Some Rationale,' But Decades in the Making

March 12th, 2016 7:45 PM
From reading most establishment press news, especially their economy-related reports, you'd think that those who are complaining about the current U.S. economy are outliers — especially the millions of Americans who are angry about it. Though they sometimes acknowledge that forward progress  since the recession hasn't been robust, the media's meme-makers have mostly told us that "overall job…

Is AP Shielding an Organizer of the Trump Speech Shutdown in Chicago?

March 11th, 2016 11:59 PM
For the "Freedom for me, and not for thee" file: Donald Trump decided to cancel a campaign rally in Chicago tonight "due to safety concerns after protesters packed the arena where it was to take place." An Associated Press report time-stamped at 10:12 p.m., like so many AP reports in similar circumstances before subsequent revisions "clean things up," so to speak, has some elements of balance,…

'Fact Checkers' Side with Hillary: Sanders 'Stood' with Minutemen

March 10th, 2016 6:05 PM
Multiple political “fact checkers” have weighed in on Wednesday night’s Democratic debate, especially when Hillary Clinton claimed Bernie Sanders “stood with the Minutemen vigilantes in their ridiculous, absurd efforts to quote, ‘hunt down immigrants.’” What is Mrs. Clinton quoting? Did the Minutemen ever shoot an illegal alien dead? “Hunt down immigrants” surely evokes the notion or murder. AP’…

Not News: Economy's Wholesale Sales at a Four-Year Low

March 9th, 2016 4:11 PM
Actual sales at the wholesale level in January, as reported today by the Census Bureau, fell sharply from December. That's to be expected. But this time was different — really different, because the drop was to a level lower than January 2012, i.e., four years ago. Four press outlets which covered today's release either missed (or ignored) this shocking news. They only told readers about what…

Obama Labor Dept. Rule May Curtail Financial Advice Talk on AM Radio

March 7th, 2016 3:16 PM
Score another blow for (allegedly) "unintended consequences." A proposed 33-page rule applying to investment advisers emanating from the Department of Labor would redefine the fiduciary relationship between investment advisers and their clients investing for retirement, which is the predominant objective of most investors. According to the Wall Street Journal, the rule "could be released as soon…

The Press Mocked the Reagans' Love For Each Other

March 6th, 2016 11:45 PM
Former First Lady Nancy Reagan died today. The Associated Press's Christopher Weber, in an otherwise predictably passive-aggressive obituary, got one thing right: "The Reagans' mutual devotion over 52 years of marriage was legendary." How nice of him to acknowledge that now. The fact is that while it was visible during Ronald Reagan's presidency, everyone with eyes to see could recognize the…

Press Euphoria Over Jobs Report Blows Off Lower Hourly Pay, Earnings

March 5th, 2016 8:27 PM
The press is mostly thrilled over yesterday's Employment Situation Summary from the government, which reported that the unemployment rate stayed at 4.9 percent and that the economy added 242,000 seasonally adjusted payroll jobs. President Barack Obama took the opportunity to take what CNBC's Jeff Cox described as "a victory lap ... in Friday remarks to the media." Well, why not? Obama was secure…

Good Grief: AP Report on Car Sales Says Buyers Were 'Giddy'

March 2nd, 2016 2:45 PM
To believe what the Associated Press's Tom Krisher and Dee-Ann Durbin wrote yesterday about February's auto sales, you have to believe that last month's car buyers were either: "a) affected with vertigo; dizzy"; or b) "frivolous and lighthearted; impulsive; flighty." That's because they claimed that in February, "consumers - giddy from Super Bowl ads - returned to showrooms after a snowy January…