The Trouble with Forecasting

New from the Business & Media Institute

The Trouble with Forecasting
The media have been hyping higher costs for home heating this winter. The trouble is, forecasting natural gas prices can be about as accurate as predicting the weather. The Energy Department's projections for winter have dropped for the past two months, but broadcasters continue to warn consumers without acknowledging the good news the energy supply recovered quickly from Hurricane Katrina.

Media at Large: Foxs Changing Climate
Home heating shouldnt be a problem much longer, if the medias full acceptance of global warming is any indication of whats really happening with the earths climate. The usually-balanced Fox News departed from its norm this week for a one-sided special that has some scientists up in arms. Unfortunately, the show also muddled the debate with misinformation.

Media Wrong about Dollar
The Business & Media Institute continues to track media prophecies and their undoing. In this edition: the economy was supposed to grind to a halt because of a falling dollar. What happened? Its still growing.

The Good, the Bad & the Ugly
The Good, the Bad & the Ugly tracks the best and worst media coverage of business and economics. Readers are invited to submit suggestions or news tips to staff writer Ken Shepherd.
This week:  The Gray Lady pans tax hike in Germany; CBS shades solar energy report; Fox News burns fair and balanced motto in The Heat Is On.

Also from BMI:

Class Warfare at the Post

CBS Begins Week-Long Gut Check

All of the Benefits, None of the Costs

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Research, News & Commentary

Culture and Government

Research: A sneak peek at a forthcoming Michigan Law Review article on J.K. Rowlings view of government and markets in her Harry Potter series of novels.


Commentary: AEI gives three cheers for Wal-Mart in the face of heightened criticism of the retailer.

Commentary: Is Wal-Mart a problem? Is it beating down the little guy? Just ask John Stossel.


Research: The Heritage Foundation points out that it might be time rethink federal subsidies for electric power, especially in the wake of Hurricane Katrina.


Commentary: The AEIs Kevin Hassett chronicles the Justice Departments vendetta against Oracle and why that might result in another Harriet Miers-esque backlash.


Research: The Heritage Foundation looks into the viability of Health Care Tax Credits, suggesting a new consumer approach to health care and a great opportunity to make providers more efficient.

Commentary: As if one wasnt enough, here are eight reasons to delay the prescription drug benefit that went into effect earlier this week.


Commentary: John Fortier explains that despite the deadweight floating around in Washington, tax reform is far from dead.