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
Corey Lewandowski, Stephen Miller and the wages of contempt in TrumpWorld
One of the worst side effects of the Trump presidency is the unleashing upon the world of these squinty-eyed, shaved-head, pissy little monsters like Corey Lewandowski and Stephen Miller, providing them a platform where they can spread their hatred of and contempt for decency and democracy and all things right and just well beyond their lonely basements and bedrooms where they had heretofore been confined. Guys like them have always been with us. You can probably recall running across one or two of them in a civics class in high school or college, shooting their sweaty palms into the air from the back row, trying to be recognized so they could challenge one liberal shibboleth or another.
Five things to watch for on Emmys night
Television's glitzy big night out is upon us -- the 71st Emmy Awards kick off Sunday evening in Los Angeles.
A little show called "Game of Thrones" looks set to dominate the proceedings one last time. But there is more to television's Oscars than the blood-spattered fight for the Iron Throne.
Here are five things to look out for:
- No host, many stars -
The Oscars went without a host in January -- and the streamlined ceremony got a 12 percent bump in total number of viewers. So few in Hollywood were surprised when the Emmys followed suit.
The lack of a host means the focus will turn to the starry lineup of A-list presenters, including Gwyneth Paltrow, Ben Stiller, Michael Douglas, Naomi Watts, Julia Louis-Dreyfus... and the Kardashian clan.
US and El Salvador sign agreement on asylum to curb migration
The United States and El Salvador reached an agreement Friday aimed at curbing illegal migration, opening the door for the US to potentially send refugees back to the violent Central American country.
The deal was announced at a joint press conference in Washington by Acting Secretary of Homeland Security Kevin McAleenan and Salvadoran Foreign Minister Alexandra Hill.
The agreement -- which will only go into effect after both countries have implemented new border security and asylum processes -- is the latest step by Donald Trump's administration to curb immigration to the US by leaning on neighbors to take in migrants.