Wishin' and Hopin': The mainstream media are desperate for a recession

It is truly a shame that the WSJ's news pages participate in trashing the Trump economy and policies.  They seem to want to go along with almost all other supposed news outlets who report what they report solely because they want to defeat Trump.

On Wednesday, the Journal printed an outright lie in the first paragraph of one of its economic stories, where it blamed Trump's trade policies for pushing factory activity to a ten-year low.  A formulaic number, the Institute for Supply Management index fell to a ten-year low, which indicates that manufacturing is slowing.  However, it does not indicate that factory activity is at a ten-year low.

Anyone suggesting that factory activity is at the lowest level since 2009 is either an economic illiterate or someone trying to mislead the public.

Since before Trump was elected, most of the media were supporting Hillary Clinton and pushing the Democrat talking points that Trump's policies would lead to a deep recession, a collapsed stock market, and massive job losses.  They were 100% wrong.

As they were supporting Hillary, they were supporting policies that gave us the slowest economic recovery in seventy years.

For the last few years, the WSJ and others have lobbied against Trump's policies, claiming they would greatly harm the economy and substantially raise prices.  They have been 100% wrong.

Recently, they pushed the idea that a recession would occur because we had an inverted yield curve for a few days.  That is another fantasy.  The only reason the yield curve was inverted was that the idiotic Federal Reserve members were on automatic pilot in 2018 and raised overnight rates higher than the U.S. or world market demanded.  Thank goodness Trump understood.

Now we see reports like this:

Slowing Trade Hits Global Manufacturing

U.S. factory activity contracted for the second straight month in September and hit a 10-year low, triggering fresh concerns about the economy and a broad stock-market decline.

The Institute for Supply Management reported its manufacturing index fell to 47.8 in September, the lowest level since June 2009, from 49.1 the prior month. Readings below 50 indicate contraction, while those above signify expansion.

It would be helpful and unique if the WSJ or some other news outlet showed the public actual numbers instead of printing garbage like "U.S. factory activity contracted for the second straight month in September and hit a 10-year low."

Manufacturing employment is up by 500,000 jobs since 2016, when Trump took office, and up 1.4 million since 2009, which is more than 10% growth.

Does anyone think manufacturing jobs would be up by more than 10% since 2009 if manufacturing activity really were at a ten-year low?

In 2009, exports were $1.056 trillion, and imports were $1.559 trillion.  In 2016, exports were $1.451 trillion, and exports were $2.186 trillion.  In 2018, exports were $1.666 trillion, and imports were $2.54 trillion.  Exports were down around 1% the first seven months of 2019 compared to the same period in 2018.

Therefore, exports are up 14.8% since Trump took office and up 57.8% since 2009.  Is there anything in those numbers that indicates that Trump's trade policies have hurt trade or the economy?  Is there anything in those numbers that indicates that manufacturing activity is slower than any time since 2009, which is what the article says?

There are also stories like this going around: "CAPEX spending on equipment 2009-$672 Billion, 2016 $1.114 Trillion, 2018 $1.221 Trillion."

Do those numbers make it appear that manufacturing activity is slower than at any time since 2009, which is what the Journal's article says?

Oil production has also risen to record levels

In 2008, Obama's campaign theme was "Hope and Change."  The media's and other Democrats' theme for the 2020 election should come from Dusty Springfield's song "Wishin' and Hopin.'"

The media and other Democrats have been wishin' and hopin' for some sort of reason to impeach Trump and people surrounding him like Judge Brett Kavanaugh, who was named to the Supreme Court after Trump was elected.  Evidence is optional.

They have also been wishin' and hopin' for a recession for years because they care much more about getting power than giving all of us — and especially minorities — the opportunity to move up the economic ladder.

They certainly are wishin' and hopin' that the media hides their policies, criminal activity, and scandals from the public because most of the public wouldn't like what they see.  The majority of the public are smart enough to see that their median income has risen more in less than three years of Trump than under eight years of Obama.

Image credit: University of Illinois Library via FlickrCC BY-SA 2.0.

It is truly a shame that the WSJ's news pages participate in trashing the Trump economy and policies.  They seem to want to go along with almost all other supposed news outlets who report what they report solely because they want to defeat Trump.

On Wednesday, the Journal printed an outright lie in the first paragraph of one of its economic stories, where it blamed Trump's trade policies for pushing factory activity to a ten-year low.  A formulaic number, the Institute for Supply Management index fell to a ten-year low, which indicates that manufacturing is slowing.  However, it does not indicate that factory activity is at a ten-year low.

Anyone suggesting that factory activity is at the lowest level since 2009 is either an economic illiterate or someone trying to mislead the public.

Since before Trump was elected, most of the media were supporting Hillary Clinton and pushing the Democrat talking points that Trump's policies would lead to a deep recession, a collapsed stock market, and massive job losses.  They were 100% wrong.

As they were supporting Hillary, they were supporting policies that gave us the slowest economic recovery in seventy years.

For the last few years, the WSJ and others have lobbied against Trump's policies, claiming they would greatly harm the economy and substantially raise prices.  They have been 100% wrong.

Recently, they pushed the idea that a recession would occur because we had an inverted yield curve for a few days.  That is another fantasy.  The only reason the yield curve was inverted was that the idiotic Federal Reserve members were on automatic pilot in 2018 and raised overnight rates higher than the U.S. or world market demanded.  Thank goodness Trump understood.

Now we see reports like this:

Slowing Trade Hits Global Manufacturing

U.S. factory activity contracted for the second straight month in September and hit a 10-year low, triggering fresh concerns about the economy and a broad stock-market decline.

The Institute for Supply Management reported its manufacturing index fell to 47.8 in September, the lowest level since June 2009, from 49.1 the prior month. Readings below 50 indicate contraction, while those above signify expansion.

It would be helpful and unique if the WSJ or some other news outlet showed the public actual numbers instead of printing garbage like "U.S. factory activity contracted for the second straight month in September and hit a 10-year low."

Manufacturing employment is up by 500,000 jobs since 2016, when Trump took office, and up 1.4 million since 2009, which is more than 10% growth.

Does anyone think manufacturing jobs would be up by more than 10% since 2009 if manufacturing activity really were at a ten-year low?

In 2009, exports were $1.056 trillion, and imports were $1.559 trillion.  In 2016, exports were $1.451 trillion, and exports were $2.186 trillion.  In 2018, exports were $1.666 trillion, and imports were $2.54 trillion.  Exports were down around 1% the first seven months of 2019 compared to the same period in 2018.

Therefore, exports are up 14.8% since Trump took office and up 57.8% since 2009.  Is there anything in those numbers that indicates that Trump's trade policies have hurt trade or the economy?  Is there anything in those numbers that indicates that manufacturing activity is slower than any time since 2009, which is what the article says?

There are also stories like this going around: "CAPEX spending on equipment 2009-$672 Billion, 2016 $1.114 Trillion, 2018 $1.221 Trillion."

Do those numbers make it appear that manufacturing activity is slower than at any time since 2009, which is what the Journal's article says?

Oil production has also risen to record levels

In 2008, Obama's campaign theme was "Hope and Change."  The media's and other Democrats' theme for the 2020 election should come from Dusty Springfield's song "Wishin' and Hopin.'"

The media and other Democrats have been wishin' and hopin' for some sort of reason to impeach Trump and people surrounding him like Judge Brett Kavanaugh, who was named to the Supreme Court after Trump was elected.  Evidence is optional.

They have also been wishin' and hopin' for a recession for years because they care much more about getting power than giving all of us — and especially minorities — the opportunity to move up the economic ladder.

They certainly are wishin' and hopin' that the media hides their policies, criminal activity, and scandals from the public because most of the public wouldn't like what they see.  The majority of the public are smart enough to see that their median income has risen more in less than three years of Trump than under eight years of Obama.

Image credit: University of Illinois Library via FlickrCC BY-SA 2.0.