Nice Work – Yahoo & Reuters

Checking the Finance.Yahoo homepage this morning and there is the news of the unemployment claims increase.  Look at how the wording changes from the front page to the story:

And the actual story:

 

The “Only” is not on the front page – I’m guessing Reuters added it later – because without the “only” it really seems like they’re reaching.  Adding “only” helps a little – but it is still not consistent with the reporting of employment under the Bush administration.

Typical Reuters correspondent – trying to offer cover for Obama.  It looks like Mutikani’s continuing with cheerleading for Obama – as Newsbuster’sagrees.  “…a pair of reporters at Reuters (Lucia Mutikani and Leah Schnurr) all took advantage of their chance to cheerlead while they had it without telling readers what, based on the previous year’s history, is likely to happen next week.”  The more things change, the more they stay the same.

Wow

I knew it was bad – but not this bad:

“And a corn price spike can put upward pressure on the price of ethanol, which consumes more than a third of the U.S. harvest.”

I’ve never filled my car with more than 10% ethanol – and usually less than that.  But already more than 1/3 of the US corn harvest is being directed to ethanol production.  I’m guessing the algae and switch grass ethanol solutions don’t provide the bulk of US needs – but I think this is reason to re-think our corn-based ethanol subsidies.  Where would it end?  How could this possibly be a means to ending our dependence on fossil fuels?

Hmmm

“if you’ve got a business, you didn’t build that.” – Barack Obama….  [obviously not the full statement]  “‘There are a lot of wealthy, successful Americans who agree with me because they want to give something back,’ the president said.”  This is true – mark your calendars – but “GIVE” is not “PAY TAXES”.

No wonder the business environment is so terrible.

Added: I can’t think of anything more inefficient for “Giving Back” than taxes.  First – look at the salaries and benefit packages of the average government employee.  Then look at how the government allocates resources.  Next – look at the bureaucracy – the GAO, the rules making boards, the committees, and etc.  Finally, look at all the graft that exists in government contracts.  Combine those factors and tell me again how much better America could be if we would just pay more taxes [We must remember however, it is not all people paying taxes that he wants – it’s only those magical “rich” people who are smart & hardworking enough to be rich but not smart & hardworking enough to find avenues around taxes.].

What’s more disgusting – that we American’s put him in office in the first place – or that he still polls better than Romney?  [I say “we American’s” but for the record I voted McCain / Palin.]

Am I the Only One [cont’d]

Who thinks Obama is the reason for the collapse of 2008?

From the CNBC story “Things Could Get Much Worse“:

“Whereas moves like the Fed’s quantitative easing program helped restart the illiquid economy during the financial crisis in 2008, few economists think a third version of QE will have much impact.”

What caused the “illiquid economy”?  The illiquid economy started in June of 2008 – when it became dreadfully apparent to all that Obama was going to be the next President of the world’s largest economy.

Am I the Only One –

who sees it?

Dan Mitchell has this stark comparison of Obamanomics vs Reaganomics – and the point is missed.  A point I’ve made before.  The economy was in a mild recession until June of 2008 when it became dreadfully apparent that Barack Obama was going to be elected and have strong support in both Houses of Congress.

Here’s the chart:

Mitchell’s point is summarized here: “Under Obama’s policies, by contrast, we’ve just barely gotten back to where we were when the recession began. Unlike past recessions, we haven’t enjoyed a strong bounce. And this means we haven’t recovered the output that was lost during the downturn.”

The 2007 recession took a nose-dive 4 quarters after its start.  What was happening in mid-2008?  Why Barack Obama was accepting Hilary Clinton’s endorsement.

So – am I the only one?  And if so – am I the only one because I’ve noticed something that no one else has or because what I’ve noticed really isn’t there?  It looks like an inflection point – a point in a process where an event happened that caused the process to go out of control.