Aly Nielsen is a staff writer and research analyst for MRC Business.
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As good as free college may sound, it is an economic fantasy. But that did not stop media outlets from embracing two recent studies arguing for loan forgiveness promoted by liberal, Soros-funded groups. A Jan. 11, study from the left-leaning Brookings Institution calling for increased federal regulation on for-profit colleges was lauded by media including Business Insider, The Washington Post, Forbes and Quartz. Another study from Soros-funded Bard College’s Levy Economics Institute also called for student debt forgiveness in early February. MarketWatch, New York Magazine, Mic and Fast Company all promoted the Bard analysis.
Pushing back against media hysteria in the wake of February stock market declines, New York Federal Reserve President William Dudley said the early market drop was “small potatoes,” and had not changed his views about the U.S. economy.
The Dow Jones Industrial Average gained more than 5,000 points in a single year for the first time ever in 2017, but liberal journalists and celebs lost sight of those gains when a market pullback took place in early February. They quickly freaked out. Multiple liberal outlets and journalists pounced on the news, coming up with uniquely negative, hyperbolic ways to cherry-pick the data, using descriptors like “crash,” “recession,” “plunge” and “free fall.”
The Washington Post was filled with morose editorials following President Donald Trump’s first State of the Union address on Jan. 30. That is yet another example showing The Post has “no credibility on this issue at all,” MRC Vice President of Business and Culture Dan Gainor said Jan. 31. He appeared on Intelligence Report with Trish Regan to discuss the media’s response to Trump’s speech.
It’s easy to hide good economic news. Simply don’t report it.
ExxonMobil will be investing “more than $50 billion over the next five years to expand our business in the United States,” thanks to the “historic” GOP tax plan, Exxon CEO Darren Woods announced Jan. 29. All three broadcast network evening news shows ignored the story, choosing instead to spend nearly two minutes on the Cleveland Indians baseball team changing its logo.
This year, liberals are not content to wait until after President Donald Trump’s State of the Union speech to resist. Instead, the liberal-funded Duke University Reporters’ Lab will be testing a fact-checking app that will allow fact-checkers from Politifact, The Washington Post and FactCheck.org to post fact-checks in real time.
The word “doomsday” is intended to terrify. So moving the Doomsday Clock forward to just two minutes to midnight gives journalists a chance for a national freakout about the chance of nuclear war. Only one problem with that. The two academics helping make this news are liberals who have given to the left eight times more than the right.
Liberals really are clueless about the positive impact of tax cuts. For proof, look no further than Nation Magazine editor and publisher Katrina vanden Heuvel. She attacked the GOP tax plan on Twitter when it passed, but is now celebrating its pratical impact on businesses.
The GOP tax bill has already led to millions of dollars in bonuses for American employees, but the benefits won’t stop there, according to global economic forecasts. The tax bill is also “expected to be responsible for about half of the upward revision to global economic growth over the next two years,” the International Monetary Fund (IMF) announced Jan. 22. The network evening news shows ignored that prediction.
One of the constants in politics is change. The number of Americans who think the GOP tax bill will help them financially dramatically increased from December, 2017 to January, 2018, yet the network evening news shows ignored the story completely. That didn’t stop NBC and CBS from spending almost four minutes on Delta Air Lines restricting service animals on flights.
The Dow Jones Industrial closed above 26,000 for the first time in history Jan. 17, but NBC Nightly News with Lester Holt didn’t say anything about the latest record. Instead, it spent nearly two minutes on dieting.
The only acknowledgement from Nightly News that Dow crossed that milestone was the on screen graphic which listed the Dow, NASDAQ and S&P closing numbers without commentary. The graphic didn’t even note that the Dow’s close at 26,115.65 was a new record high.
Thousands of workers across the U.S. were awarded bonuses, wages hikes or higher retirement account matches this year thanks to the tax reform bill recently passed by the GOP and signed into law by President Donald Trump. But this huge economic story affecting so many was practically ignored by the network evening news shows in 2018.
Venezuela’s socialist government hopes increased tourism will help replace oil revenue, in their “collapsing” economy. But even the Washington Post was skeptical on Jan. 12, writing, “Yet for a country saddled with the world’s highest inflation rate and rampant violence, Becoming a tourist paradise may be as improbable as a new Disney theme park in Damascus.”
The U.S. economy is booming. So much so that 4 percent economic growth is possible in 2018, according to JP Morgan CEO Jamie Dimon. To the broadcast networks, that information was far less important than a freshman football star and a dog stuck on a train.
Billionaire Tom Steyer just announced he will spend $30 million in 2018 to “unleash” millennial voters. It is the latest move in his push towards President Donald Trump’s impeachment.
“I’m putting $30 million behind NextGen America’s youth organizing program to unleash the full political power of young voters,” Steyer announced Jan. 8. According to Steyer, millennial voters are the key to “remaking our understanding of what it means to be an American.”
Liberal Washington Post opinion columnist David Von Drehle is sure President Donald Trump will face “a recession, slump, or God forbid, crash” before the 2020 presidential election — despite the strong economic gains so far under Trump. Von Drehle’s Jan. 5, opinion piece, “The Trump Recession is Coming,” was littered with economic language, but revealed his political bias. Von Drehle himself is not an economic analyst. He covers “national affairs and politics” for The Post and previously was editor-at-large at Time Magazine.
The Dow crossed 25,000 for the first time in its history during trading Jan. 4 - the latest in a string of record setting gains beginning in 2017. The past year defied many predictions from liberal media personalities. CNN’s highest “Crystal Ball” predictions for 2017 for example barely peaked above 22,000. In reality, the Dow closed at 24,719 on Dec. 29, and set a first-time record of gaining 5,000 points in one year.
At least one liberal media outlet has grasped the link between President Donald Trump and economic growth in 2017. According to a shockingly positive Jan. 1 New York Times report, Trump’s ongoing commitment to deregulation was responsible for 2017’s “wave of optimism.”
In May 2015, De Blasio hosted a group of fellow left-wingers at his home to formulate a Progressive Agenda for America. The Agenda backers were tied to at least $159 million from left-wing billionaire George Soros. But the Progressive Agenda’s website went offline sometime after September 2017 and liberals are now turning against De Blasio, Politico reported on Dec. 26.
The GOP-sponsored tax cut is having an impact, Goldman Sachs lowered its unemployment forecast for 2019 to 3.3 percent. But media outlets like The New York Times and The Washington Post chose not to pass that information on to their readers over the Christmas weekend.