Have you noticed all the talk recently by the mainstream media about a recession? Of course, many members of the MSM can barely contain their glee at the prospect of an economic downturn hurting President Trump's prospects in the election next year. Well, Jim Cramer on Thursday's Squawk Box told host Joe Kernen that the only people talking about such a recession are "us," meaning members of the media.
Sen. Bernie Sanders (I-VT) hit the campaign trail promoting “Democratic socialism” and claiming President Donald Trump supports “corporate socialism for the rich and powerful.” CNBC anchor Joe Kernen demanded clear definitions and answers from a Sanders adviser on June 13, attempting to learn whether democratic socialism would really mean more entitlements and government control.
Shark Tank star Kevin O’Leary and CEO Gerald Storch brought a free market reality check to Democratic socialist Sen. Bernie Sanders’ (I-VT) arguments for a $15 minimum wage on CNBC’s Squawk Box June 6. Sanders went to Arkansas to attack Walmart over wages and demanded at its annual shareholders meeting that it raise wages even more on June 5. O’Leary and Storch both opposed a wage mandate, saying markets do a better job of setting wages than the government.
Even CNBC's more liberal anchor wasn't thrilled with newly announced plans from Democratic candidates to tax Wall Street transactions. Reporter Ylan Mui told Squawk Box viewers on May 23 about plans from liberal candidates Sen. Bernie Sanders (I-VT), Sen. Kirsten Gillibrand (D-NY), Sen. Elizabeth Warren (D-MA), and Pete Buttigieg (D-IN) to tax Wall Street to pay for expensive things like "free" college.
At CNBC Wednesday morning, just after the release of the government's GDP report, Squawk Box panelist Steve Liesman appeared to do everything he could to downplay the significance, and even the relevance, of the 3.3 percent annualized growth estimate. At the end of the segment, he gave away his ignorance when he expressed outrage that the tax bill currently under consideration in Congress, while eliminating or significantly curtailing individual taxpayers' ability to deduct state and local taxes, leaves business deductions for state and local taxes intact. He, and show host Becky Quick, should know that it's bogus to try to make such a comparison.
The CEO of AT&T insisted that tax reform spurs business investment, which will lead to hiring and wage growth in an interview with CNBC’s Squawk Box a week after the president proposed reforms.
AT&T CEO and chairman Randall Stephenson sat down with the Squawk Box crew on May 4, to discuss several issues including the possibility and impact of a tax reform plan on the U.S. economy. Although specifics regarding President Donald Trump’s tax reform proposal was not mentioned, it seemed to underpin the conversation.
Good things come in threes. This is the third month in a row for a strong jobs report. The question is: Will journalists continue to ignore the good economic news under President Donald Trump? The stock market surged April 5, after news of what CNBC Senior Economics Reporter Steve Liesman called “another blowout” jobs report from the ADP private payroll. According to the report, the private sector gained 263,000 jobs in March, which was 83,000 more than economists expected.
One CNBC anchor thinks the media are “in cahoots with the hating party” and it’s hurting the president’s ability to function with Congress. Squawk Box co-anchor Joe Kernen blasted the media for unequivocal support of Democrat obstruction of President Donald Trump’s economic agenda. He specifically criticized the liberal press for ignoring one Congresswoman’s impeachment obsession. In his view, the hatred the liberal media exhibited towards former President George W. Bush looked like a “love relationship” compare to coverage of Trump.
On CNBC’s Squawk Box on March 30, a former senior Obama administration official tried to take back her earlier admission that the former administration tried to “get as much information” as possible on Trump and his associates before the transition of power – but she only dug herself in deeper.
Seeing a conservative and a liberal agree on the idea of term limits is quite unusual. Though they don’t usually agree on much, CNBC’s Squawk Box co-anchors Joe Kernen and Andrew Ross Sorkin both praised the idea of term limits for members of Congress. Frustrated with Congress’s lack of progress on Trump’s agenda, Kernen argued that getting substantial change passed is “impossible. I think maybe you need term limits.”
Add Home Depot Co-founder Ken Langone to the list of business leaders endorsing Trump’s economic agenda. After blasting the “irrelevant” liberal media for obstructing President Trump, Langone warned Republicans of the importance of advancing Trump’s plans for major tax reform. “Republicans, Democrats, the media, everybody was against Trump,” Langone said Feb. 13, on CNBC’s Squawk Box. He defended Trump and argued that, "the American people elected him president for one reason” and that’s because “they want major change.”
The economic optimism of Donald Trump’s election is becoming harder to deny, although many liberals are still trying. The Bureau of Labor Statistics (BLS) announced March 10, that the U.S. economy added 235,000 new jobs in February, beating estimates by 38,000. Following that news, CNBC’s Squawk Box co-anchor Joe Kernen argued Trump instilled confidence in the economy by surrounding himself by successful businessmen.