Nets Cover UFOs and ‘Roseanne’ Instead of Jump in GDP
Business
The biggest increase of consumer spending in three years pushed fourth-quarter economic growth to 2.9 percent, beating previous estimates and expectations.
But if you wanted to hear about it from your evening news program the same day, you had to speak Spanish. Spanish-language channel Univision’s evening news program, Noticiero Univision, reported the GDP update on March 28. ABC, CBS and NBC…
Bloomberg Politics Warns ‘Watch Out’ for Potential 2020 Recession
Business
Even though the U.S. economy grew at a 2.9 percent pace in the final quarter of 2017, some in the liberal press have already begun to anticipate a recession — at the worst, possible time for President Donald Trump.
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ABC/CBS More Worried About DACA than Rising Debt With Omnibus Spending
In a bipartisan vote on Thursday, the House passed a truly massive omnibus spending bill spanning 2,232 pages and some $1.3 TRILLION. The spending increases that the bill called for would help to jack up our already out of control $21 TRILLION national debt. But for both ABC’s World News Tonight and CBS Evening News, the bigger concern was that there was no solution for the Deferred Action for…
Media Blast Trump Econ Pick as ‘Hack,’ More Wrong ‘Than Anyone Alive'
Business
Following the resignation of Gary Cohn as top economic adviser, President Donald Trump selected CNBC contributor and former anchor Larry Kudlow for the spot.
Many liberal media outlets raced to attack the vocal free trade proponent who was the latest prominent person to join the Trump administration. Kudlow had previously served as an informal adviser to the campaign. They attacked him over his…
Networks Ignore Another Higher Economic Growth Forecast
Business
The Organization for Economic Cooperation and Development (OECD) recently increased its estimates for U.S economic growth.Too bad it didn’t heighten network interest in the U.S. economy.
ABC World News Tonight with David Muir, NBC Nightly News with Lester Holt and CBS Evening News said nothing about the revised forecast on March 13 or March 14.
NYT Snarks on Kudlow's Faulty Predictions, But What About Krugman?
In Friday’s New York Times, Deborah Solomon and Kitty Bennett mocked President Trump’s new chief economic adviser Larry Kudlow, the conservative economist who will be the next director of the National Economic Council. There was yet another insulting NYT headline: “A TV Commentator Becomes a Presidential Adviser: Go to the Videotape.” The online headline was more blunt: “6 of Larry Kudlow’s Not-…
NYT Denigrates Trump’s Economic Adviser Pick Kudlow, ‘TV Commentator'
The New York Times on Thursday dismissed Larry Kudlow, President Trump’s pick to head the National Economic Council (replacing Gary Cohn) in “President Picks TV Commentator as His Economic Adviser.” The conservative economist and associate director for economics and planning in President Reagan’s Office of Management and Budget was reduced to someone who Trump picked for his loyalty and Trump-…
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MSNBC Thinks It’s Strange Larry Kudlow Has Faith in ‘God’s Will’
During MSNBC’s 11:00 a.m. ET hour, co-anchor Stephanie Ruhle made a point of mocking President Trump’s newly-named economic advisor and longtime CNBC analyst Larry Kudlow for expressing trust in “God’s will” as he began his new White House role.
Market Sets New Highs; Media Say Little
Business
The Nasdaq Composite, a tech-heavy index of 5,000 stocks, set new record highs again on March 9 and 12. Citing that and a host of other economic factors, market expert Marc Chandler described the current state of the economy as a “Goldilocks moment.”
Trump's Steel and Aluminum Tariffs
There are a couple of important economic lessons that the American people should learn. I'm going to title one "the seen and unseen" and the other "narrow well-defined large benefits versus widely dispersed small costs." These lessons are applicable to a wide range of government behavior, but let's look at just two examples.
Jobs Growth ‘Explodes:’ ABC, NBC Give It Just 39 Seconds Combined
Business
February job gains came in at a whopping 313,000 new jobs, so much that NBC Nightly News anchor Lester Holt acknowledged it “blows away economists’ expectations.” The Wall Street Journal said expectations were at only 205,000. Unemployment also remained at the 17-year-low of 4.1 percent. But only one of the big three networks gave the good news any serious attention.
On Trump Tariffs, AP Reporter Tries to Frighten, Misquotes Economist
The Associated Press's Paul Wiseman has apparently tired of good economic news. Saturday, the AP reporter painted a frightening picture of what a trade war based on President Donald Trump's planned tariffs on a tiny sliver of U.S. imports might do to the world's economy, mischaracterizing a prominent economist's position to build his case.
Allergic to Good News? CNN Stops Tracking Trump-Era Job Growth
CNN last updated a presentation tracking job growth since President Donald Trump's inauguration on January 5, the day the government issued its December jobs report. This halt coincided with the January effective date of the GOP-Trump tax-cut law and wide expectations of significant job growth because of that legislation, and is more evidence — as if we needed any — that the network which is…
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ABC, NBC Neglect Support for Tariffs from Some Senate Democrats
As unpopular and questionable as President Trump’s new tariffs on steel and aluminum were, they did have some appeal to a seemingly unlikely group: Senate Democrats (along with a few House members). With the President signing the necessary documents in front of the cameras on Thursday flanked by American steelworkers, Senators let the press know they supported the move. But if you were only…
