LA Times over the top

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Contributor Rick Moran catches the Los Angeles Times forsaking balanced reporting for sheer propaganda aimed at convincing the public that today's economy is somehow like the Carter economy. I found this article on the economy in the LA Times interesting for two reasons. First, it mentions 'stagflation,' perhaps the first time that word has been seen in print in any context except an historical one in a quarter century. Second, one of the economists using the term is a moonbat: A separate Fed survey of regional economic conditions released Wednesday showed that the economy was slowing, led by declines in home sales and manufacturing, and that inflation was on the rise. Other recent data — including retail sales, employment and wage data from April and May — suggest that the Fed's previous rate hikes are slowing the economy. Economists said more increases by the Fed would run the risk of inducing a recession — and wouldn't have much effect on inflation anyway...(Read Full Post)

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