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
GOP leader McCarthy swats aside Fiona Hill’s national security testimony debunking his Ukraine conspiracy theory
On Thursday, during one of the final scheduled impeachment hearings this week, National Security Council official Fiona Hill demolished President Donald Trump's conspiracy theory that Ukraine, rather than Russia, meddled in the 2016 election, calling it a "fictional narrative" and noting that it originated with the Kremlin itself.
But in conversation with reporters, House Minority Leader Kevin McCarthy (R-CA) flatly disbelieved Hill's testimony, and insisted he still held onto the theory.
House Minority Leader Kevin McCarthy told me that he was not going to lose any GOP votes during impeachment.
Environmental justice advocates blast Trump EPA for ‘dangerous’ rollback of chemical disaster rule
"Safety requirements at these facilities should be stepped up, not rolled back. But this is what we've come to expect from the Trump EPA."
Environmental justice groups condemned the Trump administration Thursday for catering to the chemical industry after the Environmental Protection Agency finalized a rollback of Obama-era disaster prevention measures that were implemented to protect workers at and residents of communities with chemical plants.
Trump’s personal interests have directly undermined national security and election integrity: CNN correspondent
On Thursday's edition of CNN's "The Situation Room," correspondent Jim Sciutto broke down a key takeaway from the impeachment hearings.
"We are one year away — less than a year away from the next election, three years after Russia, with consequence, interfered, meddled in the 2016 election," said Sciutto. "One thing is clear from everybody who testified, the president of the United States never expressed any interest in defending the U.S. against that kind of interference. What he did, he was interested in a whole lot of other stuff that undermines that goal of defending U.S. elections from Russian interference, one of which Fiona Hill highlighted there, presenting an alternate explanation, a false one it was Ukraine that somehow hacked the DNC server, not Russia."