The unemployment rate dropped below 4 percent for the first time since 2000, prompting analysts to call it a “wow” number. It also provoked a surprising election analysis from MSNBC Morning Joe contributor Donny Deutsch on May 4.
Protests by workers and activists and, in some cases, violence by anarchists marked the far-left holiday May Day this year.
But most American news consumers would not have known that some London demonstrators carried communist flags and banners of brutal Soviet dictator Joseph Stalin. They weren’t told that communists marched in Athens, Greece, or that anti-capitalist anarchists destroyed windows and threw Molotov cocktails in Paris.
At Slate.com on Friday, Felix Salmon called the Ford Motor Company "heartless" for its plans to phase out most of its car models, because "The losers, of course, will be the workers." Saturday, Ford responded that no jobs will be lost at its Chicago Assembly plant in converting it to light truck production. Salmon posted that response at the end of his column, but in three days he and Slate haven't changed their "heartless" — and baseless — assessment.
Superheroes, the naming of a new royal and an adorable child umpire were all more important to ABC, CBS and NBC news than the latest U.S. economic data.
The Commerce Department announced a better-than-expected estimate of GDP — 2.3 percent — for the first quarter of 2018. In recent years, first quarters have been beset with weakness and economists expected the number to be 2 percent or a little less.
On-air editor Rick Santelli announced the first quarter gross domestic product (GDP) estimate for CNBC’s Squawk Box on April 27. “Holy cow! Better than expected up 2.3 percent. You know many were thinking, and there’s a lot of reasons to believe so, that it would be a bit under the 2 percent. So 2.3 of course, as follows 2.9 last quarter,” Santelli said.
CNBC’s on-air editor Rick Santelli reacted to the April consumer confidence numbers positively, but the same night ABC, CBS and NBC evening news programs all ignored the latest update of consumer attitudes toward the economy, as did their Spanish-language counterparts, Univision and Telemundo. “Some breaking news: Consumer confidence, we are looking for a read on April and the number is 128.7, sequentially following 127 [in March]. This is a really good number. 128 and change is the best level since February's 130. 130 was best level going back to the year 2000. Very lofty levels indeed,” Santelli said during Squawk on the Street on April 24.
In a stunning departure from MSNBC’s normally steadfast adherence to Democratic Party talking points, on her 9:00 a.m. ET hour show on Thursday, anchor Stephanie Ruhle actually grilled Democratic Hawaii Senator Brian Schatz over his party’s obsession with impeaching President Trump and questioned whether “centrist” “capitalist” voters would really vote for “far left” Democrats in the November midterm elections.
The Federal Reserve and the Conference Board both issued positive progress reports about the U.S. economy last week. Neither got a peep from the broadcast networks on those days. In fact, on April 18 and 19, the evening news broadcasts on ABC, CBS and NBC included just one economic story — and it wasn’t about either of those positive economic updates
Looking at the grief Starbucks has received for problems with two patrons at a Philadelphia store, one might ask why current Executive Chairman and former CEO Howard Schultz didn't buy some media protection by purchasing a major newspaper. Fellow Seattle-area resident and Amazon CEO Jeff Bezos did that with the Washington Post in 2013. Amazon's alleged engagement in 21st-century sweatshop practices and union-busting has gone virtually unnoticed in the establishment press since Bezos bought the Post.
The GOP-passed tax legislation passed in late 2017, remains a centerpiece of the 2018 mid-term elections. One side will be praising it, the other attacking it. USA Today only seems to care about who backs one side of that battle.
Advertisements celebrating or attacking the tax bill were the focus of an April 17, USA Today front-page exclusive. It reported that “GOP groups and candidates have run nearly 17,800 spots this year that tout tax reform ... the barrage has forced Democrats to retaliate with commercials that slam the tax cuts as helping the wealthy — and endangering Medicare and Social Security in the years ahead.”
Celebrity promotion of liberal views are predictable as death and taxes. But these days the media also take these opinions seriously, trying to turn absurdities into news. The latest example was the media frenzy over a Tweet from Sen. Bernie Sanders promoting 25 year old rapper Cardi B’s economic opinions. The rapper was already a fan of Sanders, having encouraged people to “Vote for Daddy Bernie” during the last Democratic primary.
When World War II ended, Washington, D.C.'s population was about 900,000; today it's about 700,000. In 1950, Baltimore's population was almost 950,000; today it's around 614,000. Detroit's 1950 population was close to 1.85 million; today it's down to 673,000. Camden, New Jersey's 1950 population was nearly 125,000; today it has fallen to 77,000. St. Louis' 1950 population was more than 856,000; today it's less than 309,000.