Search Results for: Dean Baker

Sep 01 2015

The Washington Post and the Federal Reserve Cult

Federal Reserve Bank of Chicago (photo: TonyTheTiger/Wikimedia)

According to Federal Reserve Board cultists, the Fed sets interest rate policy solely for the good of the country. Those of us who live in the reality-based community know that the Fed is hugely responsive to the interests of the financial sector.

Aug 24 2015

The Stock Market Is Not the Economy

Shanghai Stock Exchange (cc photo: Aaron Goodman)

The stock market is not even in principle supposed to be a measure of economic activity. It is supposed to represent the present value of future profits.

Aug 19 2015

Loss of Manufacturing Jobs Isn’t ‘Tectonic’–It’s a Policy Choice

Factory workers

Wall Street executive Steve Rattner had a column (8/14/15) in the New York Times in which he derided Donald Trump’s economics by minimizing the impact of trade on the labor market.

Aug 07 2015

Explaining Donald Trump’s Rise With Economic Misinformation

Donald Trump (cc photo: Gage Skidmore)

Many have also heard the explanation that Trump appeals to those who feel left behind by the economy. Unfortunately, the way the media often tell this story has little to do with reality.

Jul 29 2015

For NYT, US Labor Abuses Abroad Are a Thing of Decades Past

Chinese investment graphic

A New York Times piece bizarrely implies that labor abuses by US companies or their contractors are a thing of the past.

Jul 16 2015

The Minimum Wage–and Other Left Ideas Washington Post Might Find ‘Lame’

Scott Walker (photo: State of Wisconsin)

Wisconsin Gov. Scott Walker denounced the left for not having any real ideas for workers. In his Washington Post column The Fix, Philip Bump largely endorsed this perspective.

Jul 10 2015

Chinese Stocks Return to February’s Values; WaPo Sees Threat to Regime

Shanghai (cc photo: SF Brit)

The media seem to think it’s a really huge deal that investors in China’s stock market have not made any money since February. The Washington Post told readers that it could even threaten the regime’s legitimacy.

Jun 30 2015

Confusing Lending and Spending at the New York Times

Protest at Greek parliament building (photo: Marko Djurica/Reuters)

A New York Times headline refers to “trillions” of dollars being spent by central banks. In fact, central banks have not spent this money, they have lent this money, mostly by buying government bonds.