Stocks “rebounded in spectacular fashion in January,” but anyone reliant on network news programming may not have noticed since the networks proved yet again to care far more about bad economic news.
ABC, CBS and NBC evening news shows covered the bad news for stocks in December and January more than four times more than positive market news during that time (1,745 seconds to 422 seconds or 29 minutes, 8 seconds vs. 7 minutes, 3 seconds).
Appearing as a guest on Saturday's Today show on NBC to discuss the passing of former President George H.W. Bush, MSNBC contributor and historian Jon Meacham made a point of praising the former President for going left on some issues like taxes in defiance of the Republican party's conservative base. Correspondent Andrea Mitchell also saw raising taxes as a bright spot on Bush's presidency and talked up the notion that it improved the economy.
The economy may look good now, but hold off on the “confetti,” says left-wing Salon. While some people look for silver linings, Salon went in search of economic storm clouds on Aug. 12. It’s headline proclaimed, “The end really is near: a play-by-play of the coming economic collapse.” It also found an economist rooting for a downturn, to get rid of the Trump administration.
Yahoo! Finance certainly has almost Krugman-like timing. New York Times economist Paul Krugman immediately reacted to the 2016 election of Donald Trump by warning of a possible “global recession.” Perhaps Yahoo! was taking pointers for its latest series.
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 ignored by ABC, CBS and NBC news programming between May 3 and 9, as well as The Washington Post, New York Times and USA Today, according to Nexis searches.
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
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.
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-So-on-the-Money Predictions.” But what other economist (one who regularly writes for the NYT) has a flawed forecasting record?
In one of the more brazen and fraudulent "fact checks" one will ever see, The Washington Post's Nicole Lewis told readers on Tuesday that Vice President Mike Pence's absolutely true mid-November statement that "There are more Americans working today than ever before in American history" deserved "Three Pinocchios," and that the audience which applauded this statement should be ashamed of themselves. The bogus nature of Lewis's "fact check" is only exceeded by the seething anger which virtually drips down readers' screens.
Appearing as a guest on Friday's New Day on CNN a year after Fidel Castro's death to promote his film about Castro's Cuba, filmmaker Jon Alpert blamed the United States for the economic failures of communism on the island country as he charged that the U.S. ruined the Cuban economy by flooding the sugar market in the 1970s.
The Democratic Party can always count on CNN New Day co-host Chris Cuomo to push their talking points for them. On Wednesday, Cuomo spewed nonsense about President Trump's support for reforming Dodd-Frank, the "Consumer Protection Agency," and the EPA's Waters of the United States rule.
On Thursday, an Investor's Business Daily editorial cited a long list of news outlets which have recently covered the calamitous events in Venezuela, but which, in IBD's words, "continue to obfuscate, if not totally ignore" the fact that the country's implosion can be laid at the feet of one simple cause: "Socialism." One particularly appalling example exemplifying the paper's complaint came Saturday morning from NBC News.