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
Trump is living in a ‘COVIDless la-la land’ — and can’t understand why he isn’t being taken seriously: CNN’s Cuomo
On Wednesday's edition of CNN's "Cuomo Prime Time," Chris Cuomo slammed President Donald Trump for demanding people take him seriously as he ignores his own health experts and tries to override recommendations on school closures.
"Another day gone without the president deciding to lead us with a plan of action to fight the pandemic," said Cuomo. "Instead, we now know what he meant by pressuring states to reopen schools, ready or not, without ever offering them a plan to help. If they don't reopen, he will punish the poorest students. He said he's going to pull federal aid, and the kids that get most of that aid are the neediest. Many of them are white, by the way, and from families that may be Trumpers."
There’s about to be another shortage in masks and gloves as COVID-19 explodes — but Trump’s team says it’s nothing: report
After the United States erupted, COVID-19, masks, gowns and gloves started disappearing. It wasn't merely the medical professionals on the front lines that needed the personal protective equipment; Americans were hoping to get them too. Finally, more were made, but now the problem is back.
The Washington Post reported Wednesday that there's about to be another shortage.
"Nurses say they are reusing N95 masks for days and even weeks at a time," said the Post. "Doctors say they can't reopen offices because they lack personal protective equipment (PPE). State officials say they have scoured the U.S. and international suppliers for PPE and struggle to get orders filled. Experts worry the problem could worsen as coronavirus infections climb, straining medical systems."
‘He doesn’t care about those kids at all’: Anderson Cooper tears into Trump for pressuring schools to reopen
On CNN Wednesday, Anderson Cooper blasted President Donald Trump's attempts to push schools to reopen without a plan to keep students safe.
"Today the president of the United States did something rare: he expressed a notion that we can all agree on, that kids belong in the classroom," said Cooper. "But then made it quite clear beyond what it means to himself and his re-election, he doesn't actually care about those kids at all. He doesn't care about their health and safety, nor the health of their teachers and parents, and federal guidelines for keeping them safe."
"The president bragged today about getting the CDC to change their guidelines to weaken them, and lo and behold, the CDC, which used to be a world-respected organization, they are going to come up with new guidelines, less difficult ones," said Cooper. "Just think about that. The CDC puts together guidelines based on science to protect kids and teachers, staying six feet apart and masks and having air flow in rooms and washing hands, and because the president thinks it's too difficult, the CDC is going to weaken them."