
With the 85% decline in profits in the third quarter, the Times has now solidified its place as the one newspaper in the nation with the greatest pro-Democrat reporting biases. Unfortunately for the Times management team, if they make false statements regarding their financial results the officers can be sent to jail. So there we have it. While the Times news and editorial pages repeatedly tell newspaper readers things are getting better, it is forced under threat of jail time to be honest with shareholders. Things are getting worse, 85% worse.
There was more evidence of the poor economy confirmed again this morning when the Labor Department reported that the nation’s jobless rate was back up again in October. The unemployment rate rose by a tenth of a point to 7.9 percent. Unemployment remains nearly 3 percentage points higher than the average from 2001-2008 (the Bush presidency). After allowing for the Labor Department adjustments, the nation has lost 61,000 jobs during the entire Obama presidency.The high unemployment rate makes it very unlikely the Federal Reserve will pull back on its near zero interest rate policy that has crippled investment income for retirees and pension funds.
