Tag Archive for Mainstream Media

Strongest Retail Sales of the Century, But Pundits Fail to Blame Weather

As was typical of this morning’s reporting on the Commerce Department’s advance retail sales release for February, Marketwatch (Dow Jones) reported that the 1.1% gain (seasonally massaged) was the fastest in 5 months. It missed their consensus expectations, but only by a tenth of a percent. Bloomberg also touted the gain as the biggest in…

A Fog of Mendacity

Those frightening sounds, sights, and odors on the wind this foreboding snowless winter – like emanations from some back ward of a global psychiatric hospital – are the signs of a nation going completely mad. The traumatic rise of oil prices above the $100 level is one irritant, prompting a range of people-who-oughta-know-better to gibber and fulminate as though they’d been locked in the nation’s attic since Thanksgiving with nothing to do but…

Economists Surprised Again By Unemployment Claims, Should Not Have Been

The mainstream media proclaimed an unexpected “beat” of the first time unemployment claims number today. The fake, seasonally fudged number dropped to 358,000 in the week ended February 4. According to Bloomberg, the consensus of economists’ expectations was for 370,000. Aside from the fact that whether economists get a forecast right or not seems to…

Tomorrow Is A Big Day – Why Fed Should Not Act

Tomorrow is a big day, with the FOMC announcement and the Fed revealing what it wants you to think about what it thinks it’s going to think it wants you to think. Or something like that. This Fed “tranparency” thing has been covered to death in the mainstream media. I think it’s another utter waste…