Jobless claims drop steeply

To show you how the media distorts the news to a more negative tone, take a look at how this morning's weekly unemployment claims figures were reported. The number dropped to the lowest level since January, which was far below economist's estimates, yet the media questioned the result and called it "skewed," saying it was due to a drop in auto company layoffs.

By the same logic one could rightly say that weekly unemployment claims have been "skewed" to the high side, preciely because of layoffs at auto companies. (Layoffs that should not have occurred!! Obama put the U.S. manufacturers into bankruptcy!!!)

However, as always, the media chose to report it with a skeptical, negative, tone.