Next time you hear an economist or denizen of Wall Street talk about how the "American economy" is doing these days, watch your wallet.
There are two American economies. One is on the mend. The other is still coming apart.
The one that's mending is America's Big Money economy. It's comprised of Wall Street traders, big investors, and top professionals and corporate executives.
The Big Money economy is doing well these days. That's partly thanks to Ben Bernanke, whose Fed is keeping interest rates near zero by printing money as fast as it dare. It's essentially free money to America's Big Money economy.
Free money can almost always be put to uses that create more of it. Big corporations are buying back their shares of stock, thereby boosting corporate earnings. They're merging and acquiring other companies.
And they're going abroad in search of customers.
Thanks to fast-growing China, India, and Brazil, giant American corporations are racking up sales. They're selling Asian and Latin American consumers everything from cars and cell phones to fancy Internet software and iPads. Forty percent of the S&P 500 biggest corporations are now doing more than 60 percent of their business abroad. And America's biggest investors are also going abroad to get a nice return on their money.
So don't worry about America's Big Money economy. According to a Wall Street Journal survey released Thursday, overall compensation in financial services will rise 5 percent this year, and employees in some businesses like asset management will get increases of 15 percent.
The Dow Jones Industrial Average is back to where it was before the Lehman bankruptcy filing triggered the financial collapse. And profits at America's largest corporations are heading upward.
But there's another American economy, and it's not on the mend. Call it the Average Worker economy.
Last Friday's jobs report showed 159,000 new private-sector jobs in October. That's better than previous months. But 125,000 net new jobs are needed just to keep up with the growth of the American labor force. So another way of expressing what happened to jobs in October is to say 24,000 were added over what we need just to stay even.
Yet the American economy has lost 15 million jobs since the start of the Great Recession. And if you add in the growth of the labor force -- including everyone too discouraged to look for a job -- we're down about 22 million.
Or to put it another way, we're still getting nowhere on jobs.
One out of eight breadwinners is still out of work. Most families in the Average Worker economy rely on two breadwinners. So if one out of eight isn't working, chances are high that family incomes are down compared to what they were three years ago.
And that means the bills aren't getting paid.
According to a recent Washington Post poll, more than half of all Americans -- 53 percent -- are worried about making their mortgage payments. This is many more than were worried two years ago, when the Great Recession hit bottom. Then, 37 percent expressed worry.
Delinquency rates on home loans are rising. Distressed sales are up as a percent of total sales.
Most people in the Average Worker economy own few shares of stock, if any. Their equity is in their homes. But with all the delinquencies and distressed sales, the housing market has a glut of homes for sale. As a result, home prices are still dropping. So the net worth of most Americans is still dropping.
And even though interest rates are falling, most people in the Average Worker economy can't refinance their homes. They can't get home equity loans. Banks don't want to lend to the Average Worker economy because people in it are considered bad credit risks. They still owe lots of money, their family incomes are down, and their net worth has fallen.
And according to the Reuters/University of Michigan survey of American consumers, expectations about personal finances are at an all time low.
Inhabitants of the Big Money economy are celebrating Republican wins last week. They figure financial regulations will be rolled back, environmental regulations will be canned, the Bush tax cut will be extended to the top 1 percent, and it will be harder for workers to form unions.
Inhabitants of the Average Worker economy aren't so sure. The economy has been so bad they're angry at politicians. They showed their anger at the ballot box. They took it out on incumbents.
But if nothing changes in the Average Worker economy, there will be hell to pay.
Robert Reich is the author of Aftershock: The Next Economy and America's Future, now in bookstores. This post originally appeared at RobertReich.org.
Last night, for the second week in a row, The Simpsons took a shot at corporate cousin Fox News. However, if you’re clicking over to Hulu or Fox’s websites to check out this week’s helicopter gag, you’re going to be disappointed. WebNewser has noticed that the joke, from the episode’s opening credits, has been removed. Did someone at Fox (other than Bill O’Reilly) complain?
Well, maybe. However, as much as we love a good conspiracy, our money is on WebNewser’s second hypothesis, that the gag was added at the very last minute and after the websites had received their copy. We can easily imagine the producers of the show getting so excited about the media coverage of the first joke (and thoroughly enjoying O’Reilly’s take down of it) that they rushed to their computers to add the new joke to the next episode, which was finished long in advance of airing. Besides, as much as some might like to picture shadowy Fox executives wringing their hands over the joke, we just can’t imagine any exec exclaiming, “What? People are writing about our two-decade-old series all over the internet because of one joke?! Well dont let them do it again!”
However, you’d think that the TV channels would get the shows before the websites so you never know…
UPDATE Simpsons’ Executive Producer Al Jean revealed in an exclusive interview with the NY Times David Itzkoff that the motives behind the anti-Fox News gag were light in spirit:
Mr. Jean said the “Simpsons” producers — in particular, the creator of the series, Matt Groening — were pleased with how the first Fox News joke seemed to ruffle the feathers of Bill O’Reilly, the host of the Fox News program “The O’Reilly Factor.” (On his show last week, Mr. O’Reilly played the “Simpsons” satire of Fox News and, with a smile, said of the cartoon family: “Pinheads? I believe so.”)
The “Simpsons” producers could not let that remark stand, so they rushed their second Fox News joke into Sunday’s episode — so late in the production process that the gag could only be inserted into the version shown in North America, but not into versions shown in foreign markets or on the Internet.
“There’s a lot of masters that go out,” Mr. Jean said in a telephone interview, “so to save money we just put it in the one master that’s for the U.S. and Canada. More money that will then go to Fox News and undoubtedly to Bill O’Reilly.”
Mr. Jean emphasized that neither he nor his “Simpsons” colleagues have ever been told by their corporate Fox parents to stop making fun of Fox News.
Check out the opening from Fox below as well as the Hulu version below that:
Follow us on Twitter.
Sign up for Mediaite’s daily newsletter.
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Next time you hear an economist or denizen of Wall Street talk about how the "American economy" is doing these days, watch your wallet.
There are two American economies. One is on the mend. The other is still coming apart.
The one that's mending is America's Big Money economy. It's comprised of Wall Street traders, big investors, and top professionals and corporate executives.
The Big Money economy is doing well these days. That's partly thanks to Ben Bernanke, whose Fed is keeping interest rates near zero by printing money as fast as it dare. It's essentially free money to America's Big Money economy.
Free money can almost always be put to uses that create more of it. Big corporations are buying back their shares of stock, thereby boosting corporate earnings. They're merging and acquiring other companies.
And they're going abroad in search of customers.
Thanks to fast-growing China, India, and Brazil, giant American corporations are racking up sales. They're selling Asian and Latin American consumers everything from cars and cell phones to fancy Internet software and iPads. Forty percent of the S&P 500 biggest corporations are now doing more than 60 percent of their business abroad. And America's biggest investors are also going abroad to get a nice return on their money.
So don't worry about America's Big Money economy. According to a Wall Street Journal survey released Thursday, overall compensation in financial services will rise 5 percent this year, and employees in some businesses like asset management will get increases of 15 percent.
The Dow Jones Industrial Average is back to where it was before the Lehman bankruptcy filing triggered the financial collapse. And profits at America's largest corporations are heading upward.
But there's another American economy, and it's not on the mend. Call it the Average Worker economy.
Last Friday's jobs report showed 159,000 new private-sector jobs in October. That's better than previous months. But 125,000 net new jobs are needed just to keep up with the growth of the American labor force. So another way of expressing what happened to jobs in October is to say 24,000 were added over what we need just to stay even.
Yet the American economy has lost 15 million jobs since the start of the Great Recession. And if you add in the growth of the labor force -- including everyone too discouraged to look for a job -- we're down about 22 million.
Or to put it another way, we're still getting nowhere on jobs.
One out of eight breadwinners is still out of work. Most families in the Average Worker economy rely on two breadwinners. So if one out of eight isn't working, chances are high that family incomes are down compared to what they were three years ago.
And that means the bills aren't getting paid.
According to a recent Washington Post poll, more than half of all Americans -- 53 percent -- are worried about making their mortgage payments. This is many more than were worried two years ago, when the Great Recession hit bottom. Then, 37 percent expressed worry.
Delinquency rates on home loans are rising. Distressed sales are up as a percent of total sales.
Most people in the Average Worker economy own few shares of stock, if any. Their equity is in their homes. But with all the delinquencies and distressed sales, the housing market has a glut of homes for sale. As a result, home prices are still dropping. So the net worth of most Americans is still dropping.
And even though interest rates are falling, most people in the Average Worker economy can't refinance their homes. They can't get home equity loans. Banks don't want to lend to the Average Worker economy because people in it are considered bad credit risks. They still owe lots of money, their family incomes are down, and their net worth has fallen.
And according to the Reuters/University of Michigan survey of American consumers, expectations about personal finances are at an all time low.
Inhabitants of the Big Money economy are celebrating Republican wins last week. They figure financial regulations will be rolled back, environmental regulations will be canned, the Bush tax cut will be extended to the top 1 percent, and it will be harder for workers to form unions.
Inhabitants of the Average Worker economy aren't so sure. The economy has been so bad they're angry at politicians. They showed their anger at the ballot box. They took it out on incumbents.
But if nothing changes in the Average Worker economy, there will be hell to pay.
Robert Reich is the author of Aftershock: The Next Economy and America's Future, now in bookstores. This post originally appeared at RobertReich.org.
Last night, for the second week in a row, The Simpsons took a shot at corporate cousin Fox News. However, if you’re clicking over to Hulu or Fox’s websites to check out this week’s helicopter gag, you’re going to be disappointed. WebNewser has noticed that the joke, from the episode’s opening credits, has been removed. Did someone at Fox (other than Bill O’Reilly) complain?
Well, maybe. However, as much as we love a good conspiracy, our money is on WebNewser’s second hypothesis, that the gag was added at the very last minute and after the websites had received their copy. We can easily imagine the producers of the show getting so excited about the media coverage of the first joke (and thoroughly enjoying O’Reilly’s take down of it) that they rushed to their computers to add the new joke to the next episode, which was finished long in advance of airing. Besides, as much as some might like to picture shadowy Fox executives wringing their hands over the joke, we just can’t imagine any exec exclaiming, “What? People are writing about our two-decade-old series all over the internet because of one joke?! Well dont let them do it again!”
However, you’d think that the TV channels would get the shows before the websites so you never know…
UPDATE Simpsons’ Executive Producer Al Jean revealed in an exclusive interview with the NY Times David Itzkoff that the motives behind the anti-Fox News gag were light in spirit:
Mr. Jean said the “Simpsons” producers — in particular, the creator of the series, Matt Groening — were pleased with how the first Fox News joke seemed to ruffle the feathers of Bill O’Reilly, the host of the Fox News program “The O’Reilly Factor.” (On his show last week, Mr. O’Reilly played the “Simpsons” satire of Fox News and, with a smile, said of the cartoon family: “Pinheads? I believe so.”)
The “Simpsons” producers could not let that remark stand, so they rushed their second Fox News joke into Sunday’s episode — so late in the production process that the gag could only be inserted into the version shown in North America, but not into versions shown in foreign markets or on the Internet.
“There’s a lot of masters that go out,” Mr. Jean said in a telephone interview, “so to save money we just put it in the one master that’s for the U.S. and Canada. More money that will then go to Fox News and undoubtedly to Bill O’Reilly.”
Mr. Jean emphasized that neither he nor his “Simpsons” colleagues have ever been told by their corporate Fox parents to stop making fun of Fox News.
Check out the opening from Fox below as well as the Hulu version below that:
Follow us on Twitter.
Sign up for Mediaite’s daily newsletter.
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Next time you hear an economist or denizen of Wall Street talk about how the "American economy" is doing these days, watch your wallet.
There are two American economies. One is on the mend. The other is still coming apart.
The one that's mending is America's Big Money economy. It's comprised of Wall Street traders, big investors, and top professionals and corporate executives.
The Big Money economy is doing well these days. That's partly thanks to Ben Bernanke, whose Fed is keeping interest rates near zero by printing money as fast as it dare. It's essentially free money to America's Big Money economy.
Free money can almost always be put to uses that create more of it. Big corporations are buying back their shares of stock, thereby boosting corporate earnings. They're merging and acquiring other companies.
And they're going abroad in search of customers.
Thanks to fast-growing China, India, and Brazil, giant American corporations are racking up sales. They're selling Asian and Latin American consumers everything from cars and cell phones to fancy Internet software and iPads. Forty percent of the S&P 500 biggest corporations are now doing more than 60 percent of their business abroad. And America's biggest investors are also going abroad to get a nice return on their money.
So don't worry about America's Big Money economy. According to a Wall Street Journal survey released Thursday, overall compensation in financial services will rise 5 percent this year, and employees in some businesses like asset management will get increases of 15 percent.
The Dow Jones Industrial Average is back to where it was before the Lehman bankruptcy filing triggered the financial collapse. And profits at America's largest corporations are heading upward.
But there's another American economy, and it's not on the mend. Call it the Average Worker economy.
Last Friday's jobs report showed 159,000 new private-sector jobs in October. That's better than previous months. But 125,000 net new jobs are needed just to keep up with the growth of the American labor force. So another way of expressing what happened to jobs in October is to say 24,000 were added over what we need just to stay even.
Yet the American economy has lost 15 million jobs since the start of the Great Recession. And if you add in the growth of the labor force -- including everyone too discouraged to look for a job -- we're down about 22 million.
Or to put it another way, we're still getting nowhere on jobs.
One out of eight breadwinners is still out of work. Most families in the Average Worker economy rely on two breadwinners. So if one out of eight isn't working, chances are high that family incomes are down compared to what they were three years ago.
And that means the bills aren't getting paid.
According to a recent Washington Post poll, more than half of all Americans -- 53 percent -- are worried about making their mortgage payments. This is many more than were worried two years ago, when the Great Recession hit bottom. Then, 37 percent expressed worry.
Delinquency rates on home loans are rising. Distressed sales are up as a percent of total sales.
Most people in the Average Worker economy own few shares of stock, if any. Their equity is in their homes. But with all the delinquencies and distressed sales, the housing market has a glut of homes for sale. As a result, home prices are still dropping. So the net worth of most Americans is still dropping.
And even though interest rates are falling, most people in the Average Worker economy can't refinance their homes. They can't get home equity loans. Banks don't want to lend to the Average Worker economy because people in it are considered bad credit risks. They still owe lots of money, their family incomes are down, and their net worth has fallen.
And according to the Reuters/University of Michigan survey of American consumers, expectations about personal finances are at an all time low.
Inhabitants of the Big Money economy are celebrating Republican wins last week. They figure financial regulations will be rolled back, environmental regulations will be canned, the Bush tax cut will be extended to the top 1 percent, and it will be harder for workers to form unions.
Inhabitants of the Average Worker economy aren't so sure. The economy has been so bad they're angry at politicians. They showed their anger at the ballot box. They took it out on incumbents.
But if nothing changes in the Average Worker economy, there will be hell to pay.
Robert Reich is the author of Aftershock: The Next Economy and America's Future, now in bookstores. This post originally appeared at RobertReich.org.
Last night, for the second week in a row, The Simpsons took a shot at corporate cousin Fox News. However, if you’re clicking over to Hulu or Fox’s websites to check out this week’s helicopter gag, you’re going to be disappointed. WebNewser has noticed that the joke, from the episode’s opening credits, has been removed. Did someone at Fox (other than Bill O’Reilly) complain?
Well, maybe. However, as much as we love a good conspiracy, our money is on WebNewser’s second hypothesis, that the gag was added at the very last minute and after the websites had received their copy. We can easily imagine the producers of the show getting so excited about the media coverage of the first joke (and thoroughly enjoying O’Reilly’s take down of it) that they rushed to their computers to add the new joke to the next episode, which was finished long in advance of airing. Besides, as much as some might like to picture shadowy Fox executives wringing their hands over the joke, we just can’t imagine any exec exclaiming, “What? People are writing about our two-decade-old series all over the internet because of one joke?! Well dont let them do it again!”
However, you’d think that the TV channels would get the shows before the websites so you never know…
UPDATE Simpsons’ Executive Producer Al Jean revealed in an exclusive interview with the NY Times David Itzkoff that the motives behind the anti-Fox News gag were light in spirit:
Mr. Jean said the “Simpsons” producers — in particular, the creator of the series, Matt Groening — were pleased with how the first Fox News joke seemed to ruffle the feathers of Bill O’Reilly, the host of the Fox News program “The O’Reilly Factor.” (On his show last week, Mr. O’Reilly played the “Simpsons” satire of Fox News and, with a smile, said of the cartoon family: “Pinheads? I believe so.”)
The “Simpsons” producers could not let that remark stand, so they rushed their second Fox News joke into Sunday’s episode — so late in the production process that the gag could only be inserted into the version shown in North America, but not into versions shown in foreign markets or on the Internet.
“There’s a lot of masters that go out,” Mr. Jean said in a telephone interview, “so to save money we just put it in the one master that’s for the U.S. and Canada. More money that will then go to Fox News and undoubtedly to Bill O’Reilly.”
Mr. Jean emphasized that neither he nor his “Simpsons” colleagues have ever been told by their corporate Fox parents to stop making fun of Fox News.
Check out the opening from Fox below as well as the Hulu version below that:
Follow us on Twitter.
Sign up for Mediaite’s daily newsletter.
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
true bench craft company rip off
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
Obama Defends Decision To Extend Bush-Era Tax Cuts « CBS Los <b>...</b>
President Barack Obama on Tuesday staunchly defended his decision to compromise with Republicans and temporarily extend about-to-expire tax cuts for all Americans.
Steve Lopez: Dodgers divorce ruling good <b>news</b> for fans who want <b>...</b>
Around my office, the reactions were nearly unanimous recently when it came time to decide whether to keep our shares in a Dodgers season-ticket plan. One guy had the good sense to opt out; the rest of us saps, who...
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