The stock market has been on the rebound in 2019, after what some called an “irrational sell-off” in late 2018. The network evening shows covered that “market meltdown” throughout the fall, but have spent a lot less time covering recent gains.
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).
Political watchers are well aware that former New York Mayor Michael Bloomberg is probably running for president in 2020. That makes his media empire’s attacks on President Donald Trump more concerning than ever. The cover story of the Jan. 7, issue of Bloomberg Businessweek shows a dejected looking Trump with his red tie extending all the way to the ground. “The Trump Slump,” the headline read. “Why the market said goodbye to the Trump Bump.”
The liberal media were at it again in 2018, continuing to misreport, exaggerate, censor and spin business and economic news.
Some moments were laughable, such as when a New York Times reporter implied America no longer uses coal for energy. Others, such as the warning of a “climate genocide,” were no laughing matter.
It's one thing for Joe Scarborough to criticize President Trump regarding various controversies. But when Scarborough brazenly boasts about the "Obama recovery," and thanks President Obama for it, you know that the former Republican has gone all-in with the Democrats. Playing off the recent drop on Wall Street, Morning Joe opened today by mocking Trump for his positive comments on the market back in August. Fine. But Scarborough then took things a servile step further, declaring:
The U.S. created 155,000 jobs in November. Although it was lower than forecasts the number was “not bad.” In fact, it’s still more jobs than are needed to keep up with population growth and drive down the already low unemployment rate. But that’s not how the networks covered it.
The very same day stock market gyrations captured the media’s focus, government agencies announced a decline in the U.S. poverty rate and an increase in household net worth.
But the networks skipped any and all good economic news on Dec. 6, and only made room that night for negative economic stories about Wall Street and the market’s “wild ride.” The networks also showed a preference for bad news as markets were climbing, often skipping record highs in 2017 and early 2018.
With the nation still in mourning from the passing of former President George H.W. Bush, NBC spent six minutes, 19 seconds during their Thursday evening broadcast on stories that amounted to bad news for President Trump and/or the Republican Party before they finally got around to mentioning the final day of the funeral services.
Following his $100 million midterm donations to Democrats and an official party registration switch, many bet former New York Mayor Michael Bloomberg will run for president in 2020. Let media speculation over his odds (and promotion of his candidacy) begin.
The stock markets were volatile in October, including an all-time Dow Jones Industrial Average high and some “major” falls. Unfortunately, the broadcast networks preferred to show the bad side of the economy.
The network evening news shows focused on the “major selloff” and “meltdown” on Oct. 10 and 11 and ignored a record high on Oct. 3, as well as a 500-plus point gain on Oct. 16.
Stocks set records, consumer confidence shot up, and economic growth estimates were revised up.
These three good economic news stories happened back to back to back on Aug. 27-29. Meanwhile, ABC World News Tonight, CBS Evening News and NBC Nightly News ignored all three on those nights.
On Monday, the White House sparked controversy after the American flag atop the building was raised from half-staff before the remains of Senator John McCain were even in the Capitol. Also on Monday, the White House struck a brand new trade deal with Mexico that would end yet another theater in the administration’s trade wars and is said to help American businesses and consumers. The former was part of a long-running political feud while the latter affected the lives of millions of Americans. Both ABC and CBS actually spent more time during their evening broadcasts on the feud than the end of a trade war.