Press Frets About $3 Gas, But in 2012 Said $4 Gas Was 'Not a Big Drag'
Media outlets been hyping the recent increase in retail gas prices to nearly $3 per gallon, and primarily pinning the blame on President Trump's withdrawal from the Iran nuclear "deal." In 2012, when the price approached $4, CNN told readers that they "aren't as bad as you think," and that they weren't "a big drag on the economy" — and besides, according to the New York Times, "Gas prices are out…
CFOs Anticipate Strong Economy for 3 Years, But Media Ignore
Business
In spite of recent media attempts to speculate about when the economy might experience another downturn, a recent survey of global businessmen found a majority anticipate the U.S. economy to remain strong over the the next three years. Zurich Insurance Group, EY, and the Atlantic Council surveyed 497 CFOs in 30 countries and found most of them confident about U.S. investment. The survey was…
Invisible Economy: No.1 Issue for Voters Gets Just 18 Stories in Month
Business
The media are treating the economy like a good-news/bad-news story. The good news is the economy is going well and unemployment is down to just 3.9 percent — the best since 2000. The bad news is ABC, CBS and NBC evening news programs don’t want to talk about it. ABC's World News Tonight, CBS Evening News and NBC Nightly News continued to supply minimal reporting of economic issues between April 1…
Press Falsely Treats Trump's Rescission Proposal As 'Cuts'
The press has mostly gone off the rails in covering President Trump's proposal to rescind $15 billion in unspent funds, insisting on characterizing the move as "cuts." The competition for the worst coverage is fierce, but Andrew Taylor's story at the Associated Press, as carried at the Washington Post, probably wins the prize for the most incoherent headline: "Administration proposes cutting $15…
Before and After Welfare Handouts
Before the massive growth of our welfare state, private charity was the sole option for an individual or family facing insurmountable financial difficulties or other challenges. How do we know that? There is no history of Americans dying on the streets because they could not find food or basic medical assistance.
ABC: Star Wars Day Gets 6X Coverage of Lowest Unemployment Since 2000
Business
The force might have been with ABC on May 4, but interest in the U.S. labor market certainly wasn’t. That night World News Tonight with David Muir spent a meager 15 seconds announcing the April jobs report which showed the lowest unemployment rate since 2000. That 3.9 percent was what other journalists called a “wow number” that could even help re-elect President Donald Trump.
Slate, With Unemployment Rate at 3.9 Percent: It's 'Meaningless'
You had to figure that a left-leaning journalist somewhere would denigrate Friday's news that the nation's seasonally adjusted unemployment rate fell below 4 percent for the first time since 2000. Jordan Weissmann, in a Slate.com column beginning with a headlined contention that "The Unemployment Rate Is Meaningless," came through.
WashPost Disses Trump, Tries to Dismiss 2.9% GDP Growth Rate
Business
It isn’t news that The Washington Post often attacks the Trump administration and downplays good news regarding its policies. This is the same Jeff Bezos-owned publication where an editor praised Michelle Wolf’s White House Correspondents dinner jokes, that has blasted Trump’s tax cuts and promoted Trump critics.
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MSNBC SHOCK: Predicts Trump ‘Landslide’ Due to 3.9% Unemployment, NK
Business
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.
U.S. Media Mostly Ignore May Day Celebrations of Communism and Fascism
Business
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…
Slate: 'Heartless' Ford to Cut Workers, Fails to Correct When Refuted
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…
First 2018 GDP Ignored by Networks, Spun By Bloomberg, NPR
Business
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…
Santelli on First Quarter GDP: ‘Holy Cow! Better Than Expected’
Business
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.
Networks Ignore Consumer Confidence Rebound to ‘Lofty’ Levels
Business
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,…
