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Trump Trade Wars Paying Off For U.S. Workers

Donnie Trust Fund’s misguided trade war with China is starting to pay dividends for America’s beleaguered workers and faltering middle class.

Trump Approval Ratings Suspect

The story making the rounds today about the recent drop in President Donald Trump's approval ratings means nothing. Doesn't matter whether you hate Trump and...

Trump’s Unemployment and Job Lies

Every four years, we get a presidential challenger who tells us the truth about the faltering American labor market at a time of unprecedented...

Why Hillary lost

Used to be only Republicans used the term “reality-based community” to refer to principled Americans who stubbornly clung to concepts like duty, honor and...

Bullshit News: Black Friday sales

The geeks at TechCrunch may be hell on wheels when it comes to covering new computer software and hardware, but "not so much" when it comes to covering the economy.

Unless your idea of "news you can use" is the kind of shameless stock market cheerleading which is only good for getting on the wrong side of a bad trade, underpinning yet another knowing lie by a political hooker, or making overworked Americans feel like they're coming up short.

The kind of regurgitated economic journalism TechCrunch just vomited into the public forum pisses me off to no end, because I covered economic indicators in Washington, D.C., back in the day. And I know that this type of overly rosy economic story is a plague on Americans of every income and background, because it makes the average person feel like a loser by implying everyone else is doing better than they really are.

It’s not true. The economy sucks for everyone but the top 10 percent and has for about a decade now. The rest of us are all struggling. 

You are not alone.

TechCrunch implied otherwise with this misleading economic headline for the critical Thanksgiving weekend sales period: “Thanksgiving/Black Friday Online Sales Hit $4.5B, 34% Of Purchases Made On Mobile.”

They followed it up in the body of the story published Nov. 28 with a lede built around a sin of omission. By focusing solely on the natural gravitation to online shopping, instead of the decline in holiday spending which actually occurred on Black Friday, they turned the frown that was the biggest shopping day of the year upside down.

The result was a story which falsely implied to many casual readers that Americans spent more this Thanksgiving weekend and our economy has been thriving.

The painful reality is that they didn't and it's not.

Consumers actually spent 6 percent less on Black Friday 2015 than the same day a year ago, by my calculations of the relevant data TechCrunch cited from Shoppertrak and Adobe. Total purchases on Nov. 27, both online and in person, fell to $13.14 billion from $14 billion. 

Bullshit Eco News: Jobless Claims

Today's Reuters story about initial jobless claims is pure bullshit because it concludes that the low level of workplace firings we’re now seeing signals...

Employers hogging benefits of productivity growth

It's been about 40 years since U.S. workers have shared in productivity gains resulting from technical innovations like the Internet and the rise of...

Spit Out That Kool-Aid: The Jobs Picture Still Sucks

The mainstream media continues to advance knowing sins of omission in its economic reporting as evidenced by Friday's erroneous report that 1.64 million new...

Fed Chief raises alarm on unemployment

Federal Reserve Chairman Ben Bernanke did a very unusual thing Sept. 28, when he described long-term unemployment as a "national crisis." It's a...

Newsroom Insider: How New Home Sales Mislead US

It's frustrating to watch the handful of news organizations that cover United States economic indicators screw-up the same data month after month, as they...

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