I believe it was CBS that recently ran a piece in which Ted Koppel sat with a group of Trump voters probing their views. Said one to Koppel, regarding the network news, "we don't watch because we don't believe they're telling us the truth." It looks like the members of the Red Tribe have recognized narrative, but are complicating the problem by filling the gap with information from even less reliable sources. MEMO to the MSM: When you lose a credibility contest with a grifter/con artist/pathological liar, it's time to take stock of your profession.
Eric, this is the FIRST time it’s been explained to me how the jobs reports are arrived at, and why revisions are made later. Very important for Americans to understand. You explained it clearly in one paragraph. Why is it so hard for msm to get that out to the public? That’s their job, or should be. Clearly wash, rinse, repeat as noted above. It’s the narrative they cling to in spite of the increasing (🤞) sound of critical voices inside the media tent. Pitiful and dangerous to the negative way the public views the economy versus what’s really true.
There can be only one explanation for the media’s constant pessimism toward the Biden White House. They want the Dems to lose in the midterms. No other reason matches the facts when you compare the narrative to the actual results. A massive voter turnout is the only thing that will save our democracy come November. Short of that, we’re a breath away from Hungary west.
If you think that WashPost headline is "pretzel logic," try reading the article. I think everyone who did probably had a headache when they were finished. The piece babbles confusing "comparisons" of job figures to population sizes, yet it buries this nugget which is easy to miss as your mind slowly shuts down while attempting to untwist the pretzel: "...Americans are experiencing a surge in job security. There are more openings per job seeker than there have been at any other time since the government started keeping track in 2000, said University of Minnesota economist Aaron Sojourner, who worked in the White House during the Obama and Trump administrations. The number of part-time workers who want full-time work continues to fall rapidly, as employers are asking staff to work longer hours."
The incentive structure of MSM suffers from the same short-term incentive structure of every other US industry...a bias against democracy. The idea that journalists would hold back information vital to national security and accountability, allowing participants in the Trump administration to soothe their consciences (via 'anonymous conversations' with journalists vs testimony before Congress) is despicable. In the long-term, autocracies always destroy the freedom of the press, but the US media is consumed with short-term profit. Just as corporations ignoring voter suppression/nullification laws now will inevitably be extorted by a Putin-esque regime, media companies will continue to ignore the dangers of deliberately skewed reporting until it's too late.
A further problem with the initial BLS numbers of late is that person signing off on them is a leftover Trump appointee who, like a good (or is that every?) Republican, puts party before nation.
The Liberally Biased Mainstream Media™ so badly want to see Republicans back in power, because the GOP's evil incompetence is very profitable for them. They were at their absolute worst during the 2016 Presidential campaign where they sought to destroy Hillary Clinton while elevating Drumpf and his incompetent brand of corruption. and the end results speak for themselves!😠😡🤬
I keep returning to the internet meme of “You have one job...” whenever we turn to the subject of why our Failed Press ™ cannot seem to find it in themselves to issue corrections to their shoddy reporting, especially in the business pages.
We know economics is not a science as much as the business reporters claim it to be, and the market is never rational. It’s all a crap shoot and so these reporters expertise is suspect at best.
If the reporters cannot admit that they consistently got it wrong month after month when this is supposed to be their expertise, well, why would readers trust them ever again? Pundits are extremely bad at their jobs. If you or I had this kind of track record at work, we would be escorted to the door with a roadmap and a cheese sandwich.
Have you been following the problems involving the CDC's guidelines on handling the current Covid-19 surge due to the Omicron variant?
Left-leaning critics have been accusing the agency of kowtowing to corporate America & Republicans, particularly in the case of the reduction of the quarantine time from ten to five days.
Anyway, they're also accusing the Biden administration of being just as bad as the Trump administration in handling the surge of Covid-19 cases because the government won't call for lockdowns, tell people to stay at home, and provide financial assistance for individuals and small businesses.
Basically, they're saying they won't vote for the Democrats in the 2022 midterms because the party supposedly doesn't care about the people they claim to serve, and are willing to let them die in the name of captialism.
The pessimism goes so far to the point they don't believe the Democrats can protect democracy, because they haven't been able to pass the Votings Rights Act into law, and because the Justice Department hasn't gone after the bigger fish involved in planning and inciting the January 6th insurrection.
P.S. Do you follow the Left-leaning seastersjones Instagram account? They've been very pessimistic lately with their posts (particularly those of Bree Newsome Bass).
The same perverse logic works in reverse, as any reader here will know. Somehow those expectations are always exceeded or downplayed in some way or another.
Economy soars while press plays jobs “expectations” game
I believe it was CBS that recently ran a piece in which Ted Koppel sat with a group of Trump voters probing their views. Said one to Koppel, regarding the network news, "we don't watch because we don't believe they're telling us the truth." It looks like the members of the Red Tribe have recognized narrative, but are complicating the problem by filling the gap with information from even less reliable sources. MEMO to the MSM: When you lose a credibility contest with a grifter/con artist/pathological liar, it's time to take stock of your profession.
Eric, this is the FIRST time it’s been explained to me how the jobs reports are arrived at, and why revisions are made later. Very important for Americans to understand. You explained it clearly in one paragraph. Why is it so hard for msm to get that out to the public? That’s their job, or should be. Clearly wash, rinse, repeat as noted above. It’s the narrative they cling to in spite of the increasing (🤞) sound of critical voices inside the media tent. Pitiful and dangerous to the negative way the public views the economy versus what’s really true.
I've often wondered who these a-hole "analysts" are. I am assuming many are the same imbeciles who helped give us the 2008 financial collapse.
So when reality doesn’t meet expectations, it’s reality’s fault. When it can generate a negative headline for Democrats, anyway.
There can be only one explanation for the media’s constant pessimism toward the Biden White House. They want the Dems to lose in the midterms. No other reason matches the facts when you compare the narrative to the actual results. A massive voter turnout is the only thing that will save our democracy come November. Short of that, we’re a breath away from Hungary west.
Both October and November were also revised upwards a few days ago with minimal attention.
If you think that WashPost headline is "pretzel logic," try reading the article. I think everyone who did probably had a headache when they were finished. The piece babbles confusing "comparisons" of job figures to population sizes, yet it buries this nugget which is easy to miss as your mind slowly shuts down while attempting to untwist the pretzel: "...Americans are experiencing a surge in job security. There are more openings per job seeker than there have been at any other time since the government started keeping track in 2000, said University of Minnesota economist Aaron Sojourner, who worked in the White House during the Obama and Trump administrations. The number of part-time workers who want full-time work continues to fall rapidly, as employers are asking staff to work longer hours."
The incentive structure of MSM suffers from the same short-term incentive structure of every other US industry...a bias against democracy. The idea that journalists would hold back information vital to national security and accountability, allowing participants in the Trump administration to soothe their consciences (via 'anonymous conversations' with journalists vs testimony before Congress) is despicable. In the long-term, autocracies always destroy the freedom of the press, but the US media is consumed with short-term profit. Just as corporations ignoring voter suppression/nullification laws now will inevitably be extorted by a Putin-esque regime, media companies will continue to ignore the dangers of deliberately skewed reporting until it's too late.
A further problem with the initial BLS numbers of late is that person signing off on them is a leftover Trump appointee who, like a good (or is that every?) Republican, puts party before nation.
The Liberally Biased Mainstream Media™ so badly want to see Republicans back in power, because the GOP's evil incompetence is very profitable for them. They were at their absolute worst during the 2016 Presidential campaign where they sought to destroy Hillary Clinton while elevating Drumpf and his incompetent brand of corruption. and the end results speak for themselves!😠😡🤬
Democracy Dies In Clickbaits!
I have no idea why Biden's "approval" numbers would be strangely and unreasonably low. Complete mystery.
Ps. Yes. Folks understandably resent paying off loans for all. Not a good look for the Dems.
I keep returning to the internet meme of “You have one job...” whenever we turn to the subject of why our Failed Press ™ cannot seem to find it in themselves to issue corrections to their shoddy reporting, especially in the business pages.
We know economics is not a science as much as the business reporters claim it to be, and the market is never rational. It’s all a crap shoot and so these reporters expertise is suspect at best.
If the reporters cannot admit that they consistently got it wrong month after month when this is supposed to be their expertise, well, why would readers trust them ever again? Pundits are extremely bad at their jobs. If you or I had this kind of track record at work, we would be escorted to the door with a roadmap and a cheese sandwich.
Who exactly creates these expectations? I tend to think of expectations as worthless things, or simply disappointments under construction
From one Eric to another,
Have you been following the problems involving the CDC's guidelines on handling the current Covid-19 surge due to the Omicron variant?
Left-leaning critics have been accusing the agency of kowtowing to corporate America & Republicans, particularly in the case of the reduction of the quarantine time from ten to five days.
Anyway, they're also accusing the Biden administration of being just as bad as the Trump administration in handling the surge of Covid-19 cases because the government won't call for lockdowns, tell people to stay at home, and provide financial assistance for individuals and small businesses.
Basically, they're saying they won't vote for the Democrats in the 2022 midterms because the party supposedly doesn't care about the people they claim to serve, and are willing to let them die in the name of captialism.
The pessimism goes so far to the point they don't believe the Democrats can protect democracy, because they haven't been able to pass the Votings Rights Act into law, and because the Justice Department hasn't gone after the bigger fish involved in planning and inciting the January 6th insurrection.
P.S. Do you follow the Left-leaning seastersjones Instagram account? They've been very pessimistic lately with their posts (particularly those of Bree Newsome Bass).
The same perverse logic works in reverse, as any reader here will know. Somehow those expectations are always exceeded or downplayed in some way or another.