When journalists discuss the state of the U.S. economy and report either good or bad economic news, they view it as doing what they’re getting paid to do. But President Donald Trump takes things personally, including financial reporting — and journalist Maggie Haberman, in an article for the New York Times, describes the ways in which Trump views reports of an economic slowdown as a conspiracy against him.
Haberman reports that according to people who spoken to Trump, the president believes that “forces that do not want him to win” reelection in 2020 “have been overstating the damage his trade war has caused.”
One indication that the U.S. economy is slowing down and could be heading into a recession is what economists call an “inverted yield curve,” meaning that the short-term interest rates for financial products like certificates of deposit or bonds are higher than the long-term interest rates for such products. And Haberman notes that the inverted yield curve is one of the things journalists have recently been addressing, along with a trade war with China and markets showing signs of a slowdown.
Trump, according to Haberman, interprets all of this reporting of a softening economy as an attack on his presidency — and the president, she points out, has “struck an increasingly strident economic tone” recently. For example, Haberman points out, Trump insisting during a rally in Manchester, New Hampshire last week that anyone with a 401(k) has “no choice but to vote for me” in 2020 because if a Democrat defeats him, “everything is going to be down the tubes. Whether you love me or hate me, you’ve got to vote for me.”
And Trump’s anti-media rhetoric, Haberman notes, was evident in a post on Twitter last week — when Trump tweeted, “The Fake News Media is doing everything they can to crash the economy because they think that will be bad for me and my re-election. The problem they have is that the economy is way too strong and we will soon be winning big on Trade, and everyone knows that, including China!”
Another example of Trump’s “increasingly strident economic tone,” Haberman reports, came on Sunday, when he tweeted, “Our economy is the best in the world, by far. Lowest unemployment ever within almost all categories. Poised for big growth after trade deals are completed.”
Trump, according to Haberman, also sees Federal Reserve Chairman Jerome Powell as someone who is conspiring against him — even though it was Trump himself who chose Powell for that position.
The Fake News Media is doing everything they can to crash the economy because they think that will be bad for me and my re-election. The problem they have is that the economy is way too strong and we will soon be winning big on Trade, and everyone knows that, including China!
— Donald J. Trump (@realDonaldTrump) August 15, 2019
Our economy is the best in the world, by far. Lowest unemployment ever within almost all categories. Poised for big growth after trade deals are completed. Import prices down, China eating Tariffs. Helping targeted Farmers from big Tariff money coming in. Great future for USA!
— Donald J. Trump (@realDonaldTrump) August 18, 2019
Accused child molester Roy Moore defends Brett Kavanaugh: ‘I too was the object of false allegations’
Accused child molester Roy Moore on Wednesday came to the defense of Supreme Court Justice Brett Kavanaugh, who has been accused of sexual assault.
Moore's remarks came after The New York Times published accounts from a new book, which found that two of Kavanaugh's accusers were credible.
In a statement to the press, Moore defended Kavanaugh on Wednesday.
"I too was the subject of false allegations, but unlike Justice Kavanaugh and others who have suffered the ire of the left, I filed suit against my accusers and their conspirators," Moore said. "For over two years, I have not seen nor been able to question any of those who went on national television tol tell their false stories just 32 days before the election in December 2017, and ironically I have been sued for defamation for merely denying their false and malicious accusations."
Trump says ‘many options’ on Iran response
US President Donald Trump said Wednesday he has "many options" in addition to military strikes against Iran and that details of newly announced sanctions will come within 48 hours.
Asked by reporters about a possible US attack on Iran, Trump said "there are many options. There's the ultimate option and there are options a lot less than that."
He explained that by "ultimate option" he meant "war."
Trump said that the specifics of sanctions he announced earlier would be made public "over the next 48 hours."
US ally Saudi Arabia says Iran was behind a missile or drone attack setting ablaze major oil facilities last weekend.
Bermuda braces for Hurricane Humberto
Residents of the tiny British archipelago of Bermuda battened down the hatches on Wednesday ahead of the arrival of Hurricane Humberto, a major category 3 storm packing fierce winds and punishing rain.
The Miami-based US National Hurricane Center put the center of the storm about 225 kilometers (140 miles) west of Bermuda at 1800 GMT, with maximum sustained winds of 195 kilometers per hour.
The core of the large storm was expected to pass to the northwest of Bermuda later in the day or overnight, dumping as much as 15 centimeters (six inches) of rain. A heightened storm surge is possible.