It’s just too funny to listen to the “coverage” of the economy that the left-wing media are doing. Last quarter’s economy numbers were no good. Under one percent for the quarter. No one thought that was a good thing. However, it’s interesting, and instructive, to contrast the coverage of that number with similar quarters in the Obama years.
During the Obama years it was all like this: “It’s puzzling — all the economic numbers are on the upswing in this recovery, yet the people just aren’t optimistic about the economy.”
And when the press were reporting the numbers that were bad during the Obama years, those statistics all belonged to George W. Bush.
Remember? It was years before Obama and his ovine acolytes stopped blaming Bush for Obama’s bad economy.
Now, though, it’s still Obama’s economy — Trump just completed three short months in office — but the anemic growth numbers of this past quarter… all belong to Trump. At last as far as the media are concerned.
The coverage is completely reversed, something like: “It’s puzzling — the economy is looking dismal, but the American people are optimistic about it.”
Same economy, similar numbers… and the media are now reporting the 180° opposite of what they were reporting during the Obama presidency.
Trump has been in office for 100 days. The only actual effect he’s had has been psychological. He’s had no real effect other than that.
This is not to say that a psychological effect is unimportant; to the contrary. It’s vitally important. However, for quite a while this will be the Obama economy; until, that is, Trump and/or Congress can reverse catastrophic Obama era policies… and those policy reversals can have their effect. In an economy the size of the American economy, that takes months.
If you ever thought that you were learning something by watching the dominant media, this should disabuse you of the notion.