As they make every bit of bad news about the owebumeconomy disappear...
It took the Associated Press barely 2-1/2 hours to bury the bad news in the Census Bureau's 10 a.m. release on February wholesale sales and inventories.
As of 12:32 Eastern Time, Martin Crutsinger's 10:21 a.m. time-stamped story was not present at the AP's Top 10 Business stories page (saved at my host for future reference), making it quite likely that the news won't get much prominence at the wire service's subscribing print, online and broadcast outlets.
But the four hours-old ho-hum news that seasonally adjusted initial unemployment claims remained below the 300,000 level commonly seen as potentially troublesome was still on display.
Crutsinger's dispatch failed to cite the release's most troubling element, namely that monthly merchant sales are, even before adjusting for inflation, below where they were a year ago:
full article...
- See more at: http://newsbusters.org/blogs/tom-blumer/2015/04/09/ap-buries-downplays-grim-wholesale-sales-data#sthash.fHzGCJ7N.dpuf
The evidence is clear that liberal economic policies do not work as advertised, but that doesn't stop the true believers from spewing pure fantasy...
Vaccine skeptics have a well-deserved reputation for not caring about facts, but according to American Prospect blogger Paul Waldman, many right-wing anti-taxers resemble anti-vaxxers in terms of their shaky grasp of reality.
“All the GOP presidential candidates are lining up to receive the wisdom of Arthur Laffer as they formulate their economic plans,†wrote Waldman in a Friday post.
“This is the rough equivalent of doctors seeking to lead the American College of Pediatricians competing to see which one can win the favor of Jenny McCarthy…Laffer's theory has been as thoroughly disproven as phrenology or the notion that the stars are pinholes in the blanket Zeus laid across the sky.â€
Waldman referred to longtime supply-side enthusiast Laffer as “one of America's foremost economic quacks†and argued that Republicans like tax cuts not because they benefit the overall economy, but “for ideological and moral reasons…[C]utting taxes on the wealthy actually reduces revenue, [but that] doesn't make [Republicans] revise their belief that doing so is right and just, because that belief isn't subject to the test of evidence.â€
full article...
- See more at: http://newsbusters.org/blogs/tom-johnson/2015/04/10/lefty-blogger-paul-waldman-tax-cutter-arthur-laffer-economics-jenny#sthash.n3WsduVu.dpuf
