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
More than 1 in 5 ventilators in federal government stockpile is holding for emergencies don’t work
As the coronavirus is raging through the United States, President Donald Trump has begun releasing personal protective equipment from federal stockpiles as well as much-needed ventilators. Unfortunately, however, one in five ventilators from the government don't work.
The New York Times reported Wednesday that there are 10,000 ventilators that the government is holding back for the next wave of the emergency.
"But what federal officials have neglected to mention is that more than 2,000 of the lifesaving devices are unavailable after the contract to maintain the government’s stockpile lapsed late last summer, and a contracting dispute meant that a new firm did not begin its work until late January. By then, the coronavirus crisis was already underway."
Pro-Trump reporter banned from White House briefing room for ignoring social distancing guidelines
On Wednesday, the White House Correspondents Association announced that it would be banning One America News Network reporter Chanel Rion from the press briefing room, after she repeatedly refused to follow social distancing guidelines imposed as a safety precaution against coronavirus.
The WHCA taking action after OANN staffer Chanel Rion repeatedly broke the agreed-upon rules --> https://t.co/8uTRLaVSbd
— Geoff Bennett (@GeoffRBennett) April 1, 2020
Even Trump criticizes Mike Pence’s answer about why the administration won’t open Obamacare exchanges
At Wednesday's coronavirus task force press briefing, reporters asked Vice President Mike Pence to justify why the administration is refusing to reopen the Affordable Care Act insurance marketplaces for a special enrollment period in response to the pandemic — and the vice president's answer was so evasive and unhelpful that even President Donald Trump teased him for it.
Pence replied that he was working with insurance companies to eliminate copays for coronavirus-related treatment — which doesn't help people who have no coverage and can't enroll because the administration hasn't authorized enrollment.