Bubble, Boom or Bust? Media confuse the housing issue by comparing real estate to the stock market and stoking fears of a national bust. By Amy Menefee May 26, 2005 Media reports on housing have flared recently following Federal Reserve Chairman Alan Greenspans admission of local bubbles and the National Association of Realtors release of figures on soaring home sales. The print media are correctly reporting that housing bubbles where home prices rise to levels the market eventually cant sustain happen in local areas, not on a national scale. Articles in the May 25, 2005, Washington Times , Washington Post... continue reading
NBC Fuels Gas Price Hysteria Network blames the president for high gas prices and emphasizes government regulation and taxes over free-market solutions. By Amy Menefee May 20, 2005 Though oil prices have fallen about 20 percent from their April peak, NBC hasnt let up in its scrutiny of the gasoline industry. The network aired a series during the week of May 16, 2005, called Pain at the Pump, which included the usual stories about people buying fewer SUVs and bemoaning gas prices above $2 per gallon. But it shifted into high gear on the May 19, 2005, Nightly News when... continue reading
Payday at CBS: 60 Minutes Cashes in on Another Business Attack Network uses disgruntled customers, competitor and frustrated official to target loan companies. By Dan Gainor May 19, 2005 At CBSs 60 Minutes the formula for covering lawsuits against businesses has been pretty consistent. The network has turned to negative sources to attack the business and ignored most that would support the firm. The May 18, 2005, program attacked payday companies that provide loans against upcoming checks. Reporter Scott Pelley lined up the opposition: two unhappy customers (one who was filing suit), a competitor, a frustrated would-be regulator and a... continue reading
Obesity Coverage: Give or Take 75,000 Deaths The media cant seem to get the CDCs updated obesity statistics straight By Amy Menefee May 19, 2005 Recent news coverage of obesity statistics has fluctuated more than a dieters weight. The networks have gone back and forth with the numbers they cite, while The Washington Post and USA Today have given a one-sided account of obesity risks, leaving out recent good news that mildly overweight people live longer. A May 17, 2005, Washington Post article was the latest to omit half of the news on obesity statistics from the Centers for Disease... continue reading
Large Tax Increase Not Newsy Enough for Media Major outlets ignore Democratic Congressmans Social Security proposal that would raise the payroll tax. By Amy Menefee May 18, 2005 The major media have largely ignored a Democratic tax increase proposal launched this week that would place new tax burdens on workers and employers. NBC, CBS, The New York Times and The Washington Post ignored or glossed over the first Social Security plan from a Democrat, who declared that raising the payroll tax would bail out the system. Rep. Robert Wexler (D-Fla.) came forward on May 16, 2005, with his plan to... continue reading
Biased Accounts: Part II: Truth About Social Security Reform Lost in Transition Networks cite red-herring costs of personal accounts without explaining what they mean. By Amy Menefee May 17, 2005 Transition costs are cited frequently in the media as a downside to Social Security reform. But reporters are missing the fact that a transition to personal accounts wouldnt mean new costs because Social Security is already made up entirely of borrowed money. Opponents of personal accounts argue that phasing in the accounts would require up-front borrowing. This is true, but its merely borrowing from a different source instead of todays... continue reading
Paper Tigers Take Bite Out of American Dream Three major newspapers attack traditional economic views and show support for the welfare state. By Dan Gainor May 16, 2005 Readers of three of the most popular newspapers in the U.S. have been deluged with one-sided versions of life in these United States. In four days, The Wall Street Journal, Washington Post and New York Times all had large articles detailing the disparities between rich and poor. In more than 16,000 words, the three papers painted a picture of what the Post called an unraveling safety net that threatens the New Deal... continue reading
Getting Personal over Personal Accounts: Business Week attacks the ownership society with scare tactics and liberal talking points. By Charles Simpson May 13, 2005 To discredit the presidents vision of an ownership society, Business Weeks Lee Walczak and Richard S. Dunham spread economic doom and gloom and painted an inaccurate picture of the political landscape of Social Security reform. They warned of rampant job insecurity, the offloading of personal responsibility onto individuals, the excesses of capitalism, and even took gratuitous shots at the president. Their May 16, 2005 piece, I Want My Safety Net, relied heavily on liberal think tanks... continue reading
Investing for Dummies When it comes to managing money, the L.A. Times says were all dummies. The next step in the logic is for Social Security to stay the same to protect us from ourselves. By Amy Menefee May 12 , 2005 The sub-headline on Peter Gosselins May 11, 2005, Los Angeles Times article summed up its prevailing position. It read, Nobel winners and top academics fumble the sorts of decisions Bushs Social Security overhaul plan would ask average Americans to make. Gosselin interviewed Nobel prize-winning economists who revealed their own poor investment decisions, and he presented that as evidence... continue reading
New Book Features Business & Media Institute Herman Cains They Think Youre Stupid points out media problems with biased reporting and poor economic coverage. By Dan Gainor May 10 , 2005 A new book by former Godfathers Pizza Inc. Chairman Herman Cain aimed to instill a dose of the real world into the Washington status quo. Cain, national chairman of theBusiness & Media Institute, targeted the marginalized voter with the book They Think Youre Stupid. The book focused on public policy problems and pointed out areas where Cain believed voters are unified. Cain emphasized the problem that the public is... continue reading