The stock markets were volatile in October, including an all-time Dow Jones Industrial Average high and some “major” falls. Unfortunately, the broadcast networks preferred to show the bad side of the economy.
The network evening news shows focused on the “major selloff” and “meltdown” on Oct. 10 and 11 and ignored a record high on Oct. 3, as well as a 500-plus point gain on Oct. 16.
On Tuesday's CNN Tonight, CNN chief media correpondent Brian Stelter claimed that President Donald Trump has the benefit of getting "24/7 propaganda" from Fox News Channel which past Presidents like Barack Obama allegedly did not have as the group discussed Trump's tendency to give more interviews to Fox than to other news outlets.
Tuesday morning on CNN's New Day, liberal historian Doris Kearns Goodwin admits that President Trump has "made a connection" with his base, and that "he's made them feel that he's on their side."
A widely anticipated textbook, “Universal Economics,” has just been published by Liberty Fund. Its authors are two noted UCLA economists, the late Armen A. Alchian and William R. Allen. Editor Jerry L. Jordan was their student and later became a member of President Ronald Reagan's Council of Economic Advisers, as well as the president and CEO of the Federal Reserve Bank of Cleveland.
In a sharp reversal from what occurred this past summer, when record-low Hispanic unemployment was met with absolute silence on the nation’s leading Hispanic television newscasts, the October 5 news from the U.S. Department of Labor that the national unemployment rate had reached a nearly 50-year low and that Hispanic unemployment had fallen to a record low received significant coverage on all the nation’s leading Spanish-language newscasts.
Unemployment dipped to the lowest rate since December 1969 in September, but ABC, CBS and NBC evening news shows only spent exactly one minute combined sharing the strong economic news.
Over the summer, the broadcast networks continued to pound Donald Trump and his team with the most hostile coverage of a President in TV news history — 92 percent negative, vs. just eight percent positive. Nearly two-thirds of evening news coverage of the Trump presidency focused on five main topics: the Russia investigation; immigration policy; the Kavanaugh nomination; North Korea diplomacy; and U.S. relations with Russia, while bright spots such as the booming economy accounted for less than one percent of total coverage.
New York Democratic congressional candidate and “self-avowed” socialist Alexandria Ocasio-Cortez is a liberal media darling with her $40 trillion wish list of government programs. Vanity Fair proved it again with its November issue.
That issue included the latest installment of its “New Establishment” list. Ocasio-Cortez made the list along with “Democratic hopefuls” Ayanna Pressley, Andrew Gillum and Beto O’Rourke as “The Ground-Breakers.”
The absence of “climate change” or “global warming,” from the new United States Mexico Canada Agreement (USMCA) frustrated environmentalist groups, according to Huffington Post and EcoWatch. They also complained it included “corporate giveaways” to the gas and oil industry. The replacement deal for the North American Free Trade Agreement (NAFTA) was announced on Oct. 1, after months of negotiations between the U.S., Canada and Mexico. President Donald Trump promised a renegotiation of NAFTA during his presidential campaign.
Federal Reserve chairman Jerome Powell expressed optimism about the “extraordinary times” for the U.S. economy right now at an event with business economists on Oct. 2.
Powell said, “The economy is strong, unemployment is near 50-year lows, and inflation is roughly at our 2 percent objective, and the baseline outlook of many forecasters in and outside the Fed is for more of the same.”
Reuters published a story on September 30 with the good news that China has begun cutting some of its tariffs. Although this is quite good news there is a mystery as to why China decided to make those cuts since until recently a trade war with the United States had been threatened.
Is there anybody responsible for this shift in trade policy? And who would that be? You can search all you want but you won't find the identify of the Invisible Man in "China to cut import tariffs on wide range of products."
This is a tale of two Politicos...
In the October 1 USA edition of Politico, the new NAFTA agreement was viewed through the lens of President Donald Trump's supposed braggadocio starting with the very title, "Trump hails 'historic' trade deal with Canada, Mexico" while being rather light on the details. In contrast the Politico Pro Canada edition of the same day went much heavier into the details which revealed just how successful Trump was in getting a better deal for the United States.