While the early February market pullback has spooked some investors and already gained plenty of media attention, it illustrated all too well the broadcast networks’ tendency to cover bad economic news more than good. The networks skipped the vast majority of records as the market climbed throughout 2017 and the beginning of 2018.
The Dow Jones Industrial Average closed Monday roughly 1,100 points down after dropping by nearly 1,600. The percentage lost was not record-setting, but that didn’t stop the liberal media from slapping President Trump with it since he often touted the markets as a sign his policies were working. The Big Three networks led their evening newscasts with the story. NBC’s stood out as the most panicked and while CBS aimed to quell fears, they also knocked Trump for not noting it in a speech about tax cuts.
Democrats have been slamming House Speaker Paul Ryan after he deleted a tweet touting an AP story, in which a school secretary explained that she got a nominal raise because of the GOP tax bill. Because the amount was so small, or “crumbs” as Nancy Pelosi would put it, Democrats bashed Ryan and Republicans for daring to celebrate Americans getting more money in their paychecks.
With the Dow Jones Industrial Average taking another nosedive on Monday, the MRC’s Rich Noyes joined Neil Cavuto’s eponymous Fox Business Network program to discuss the findings of a study by MRC Business’s Julia Seymour that found a massive double standard from the major broadcast networks on stock market increases vs. tumbles.
When the Dow Jones Industrial Average “nosedived” by nearly 666 points on Feb. 2, it got plenty of network attention. In fact, it got more coverage than the two huge Dow milestones that preceded it — combined.
Although that one-day selloff was a 2.5 percent drop which followed huge gains, the networks emphasized the “worst week for stocks in two years.” ABC World News Tonight with David Muir, NBC Nightly News and CBS Evening News spent a combined 251 seconds on Feb. 2, covering the markets. Those same three shows spent about 33 percent more time on the selloff than on two major milestones during the prolonged stock market rally.
As to be expected, the liberal hosts at ABC’s The View were less than thrilled by President Trump’s State of the Union last night. Since co-host Joy Behar was out sick, host Sunny Hostin took the mantle giving the hysterical anti-Trump take, decrying the “very offensive” speech that “demonized immigrants,” on the show’s January 31 episode.
Those who linger at the The New Yorker magazine's website eventually see a splash advertising its dedication to "fighting fake stories with real ones." Staff writer John Cassidy's ridiculous assertion that "George Soros Upstaged Donald Trump at Davos" shows that this is clearly false advertising.
Since the campaign trail, President Donald Trump has made an economic turnaround and prosperity a top priority. But the network news media have not made covering economic news one of theirs.
Too often the networks focused on less important stories, such as Amazon’s unique “reinvented” office space called “The Spheres,” and skipped key economic news.
The front page of Sunday’s Los Angeles Times looked like a perfect example of curated liberal bias. The dominant story on the top left was an outraged editorial from columnist Steve Lopez, on homelessness in the city. “CEASELESS CRISIS,” it screamed. Another story on homelessness sat on its right. Below, there was a gushy feature on an openly gay Olympic skier, and another gushy feature on Stormy Daniels, a porn star who allegedly had an affair with Donald Trump ten years ago.
Continuing its newly rediscovered fascination with fact-checking, in remission during the eight years of Obama, the New York Times’ Linda Qiu (hired during the Trump era) delivered yet another overheated fact-check of a Trump speech, this one delivered at the World economic Forum in Davos, Switzerland: “Where the Speech Veered From the Truth.” Qiu on Saturday evaluated seven statements (cut to four in print) -- two true, two false, and three that fell into the strange Trump-only category “needs more context." It mean sort of a “yes, but,” followed by a Democratic-friendly rebuttal of Trump’s accurate point.
On January 11, Nancy Pelosi slammed as "crumbs" the wage increases and bonuses well over 100 companies had announced at that point after the new tax law's passage in December. Thursday, she went to the same well more stridently. The establishment press, including the Associated Press, still won't report Pelosi's and others' similar comments, because they know how toxic they are.
Friday, Fox Business's Maria Bartiromo interviewed Philip Jennings, General Secretary of the UNI Global Union, as he took a break from supposedly helping the downtrodden by attending the World Economic Forum in Davos, Switzerland. Jennings whined that unions can't organize in America because of government and employer obstruction, and brought the host to a boil when he falsely claimed that 62 percent of the benefits of December's tax-cut legislation go to the top 1 percent.