Rules are here. Possible comment fodder follows. Other topics are also fair game.
At NewsBusters yesterday — “Matthews Apologizes for MSNBC’s KKK Smear of Romney: ‘Appalling Lack of Judgment.’” Matthews had compared “a Mitt Romney campaign slogan to the Ku Klux Klan. The Hardball host conceded, “It was irresponsible and incendiary of us to do this, and it showed an appalling lack of judgment. We apologize, we really do, to the Romney campaign.”
Matthews was so full of remorse that “About thirty minutes after host Chris Matthews apologized for his network’s pathetic Ku Klux Klan smear of Republican presidential candidate Mitt Romney, he disgustingly attacked former House Speaker Newt Gingrich saying, ‘You don’t give WMD to someone known even by his old former allies to be in a crunch, or even whenever things get edgy, to be himself a weapon of mass destruction.”
The good news is that twice as many total viewers watch Fox News during his time slots (example here).
Spengler explains a lot about Team Obama and its regime of uncertainty: “Severing reward from accomplishment is just as important to autocrats as separating punishment from crime. To wield arbitrary power, the king/dictator/CEO must wield power arbitrarily.”
Mood-altering narrative — “This slump won’t end until 2031.” If we let authoritarians and statists instead of free markets rule, that’s not impossible.
At the College Conservative (HT Instapundit) — “My Time at Walmart: Why We Need Serious Welfare Reform.” I’ll bet there are thousands of stories just like it around the country. Make that “I’m certain.”
Economic Bellwethers? — First, Best Buy:
Best Buy 3rd-quarter profit falls, shares skid —
Electronics retailer Best Buy said Tuesday that its third-quarter net income fell 29 percent as it cut prices in popular categories such as tablets and TVs to drive sales and traffic during the busy holiday season.
Its adjusted earnings missed analysts’ expectations, and its shares sank more than 15 percent.
You would think that Best Buy, which basically owns the brick-and-mortar portion of the electronics and appliance markets and is aggressively building its online presence, could do well no matter what.
Well, maybe it’s because its Internet competitors, principally Amazon, are eating into its business in a profitable way.
Amazon.com Inc shares dropped to levels not seen since March Wednesday on concern that big spending and aggressive pricing by the No. 1 Internet retailer will hit profit during the crucial holiday season and well into next year.
My take is that both outfits are deeply discounting because the goods won’t move if they don’t. That runs against the robust holiday spending meme the establishment press is attempting to build and doesn’t bode well for the post-Christmas letdown/employment shakeout in retail.
CEOs of big companies foresee no pickup in hiring
Two-thirds of chief executives of the largest U.S. companies say they don’t plan to increase hiring or will cut staff in the next six months, mainly because of sluggish growth in the United States and financial turmoil in Europe.
Okay, large companies usually don’t drive employment during recoveries, but not at all? It’s still not looking good out there.