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.
We are currently hearing a lot of doom and gloom about the trade war with China from the media talking heads, particularly on MSNBC and CNN. Their big claim is that President Donald Trump has put the United States at a disadvantage by raising tariffs on Chinese goods in an effort to get China to lower their tariffs and other barriers on American exports to that country. However, CNBC's Jim Cramer on Tuesday's Squawk Box, explained how Trump is using the right tactic as well as how the talking heads are getting it wrong.
April was a great month for jobs with another upside surprise.
CNN reported on May 2, that it was expected to be “a healthy but unspectacular” 185,000 jobs. Unemployment was expected to remain at 3.8 percent. MarketWatch was expecting a “robust increase” of around 213,000 jobs.
The U.S. economy grew so much more than expected in the first quarter that CNBC’s Rick Santelli called it a “whopper” and “really powerful” news on April 26. A day later, the news made the front page of The Washington Post and The New York Times.
The broadcast networks were less enthusiastic. Two out of the three evening news programs skipped the story entirely that night.
Economic growth bested expectations by nearly a percentage point in the first quarter, and “pushes back” against recent recession fears, according to CNBC.
“First look at first quarter GDP and it is a whopper! 3.2 percent.” on-air editor Rick Santelli announced on April 26. “A 3 handle on first quarter. It’s supposed to be the dog of the year in terms of which quarters excel. This is really powerful.”
The December jobs report crushed expectations on Jan. 4, with 312,000 jobs added, a strong participation rate, wage gains and two months of upward revisions. That was 136,000 jobs more than expected.
Authoritarian governments are known for having a boot on the neck of freedom. CNBC’s on air editor Rick Santelli said the Obama administration had a "boot on business." Santelli was rumbling with former Obama official and Brookings Institution economist Aaron Klein over taxes, spending and whether the Obama administration enacted “pro-growth” economic reforms.
Sarah Eisen, co-host of CNBC's Squawk on the Street tried to spin negativity in a hugely positive July jobs report. Despite her lame attempt, it largely failed due to the overwhelming positive numbers of the report which revealed an unemployment rate of only 3.9%.
Last month, 213,000 new jobs were added to the U.S. economy — more than expected by analysts. Jobs figures from the previous two months were also revised up by a total of 37,000 jobs. This good news about job gains and increased participation in the labor market drew praise from CNBC’s panelists on July 6, even from former Obama administration economist Jared Bernstein.