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How the media is falling short covering the economic rollercoaster – CNN

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2 years ago

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New York (CNN)Even top economists are struggling to explain perhaps “the weirdest economy” Americans have ever lived through, CNN’s chief media correspondent Brian Stelter said on “Reliable Sources” Sunday.

Paul Krugman, a Nobel Laureate and economist and a longtime columnist for the New York Times, said the economy is not in recession, but added that the distinction doesn’t even matter.
“Jobs are abundant, although maybe the job market is weakening. Inflation is high, though maybe inflation is coming down,” Krugman said. “What does it matter whether you use the R word or not?”
But in today’s divisive environment, the debate over whether or not to use the word recession by some members of the media has become “especially vitriolic,” Krugman said.
“I’ve never seen anything as bad as the determination of a lot of people to say it’s a recession,” Krugman said. “It’s above and beyond anything I’ve ever seen.”
Negative news stories often get the most attention, Krugman added, but when it comes to the economy, a plurality of voters appear to not be aware of its underlying strength.
“I think that what’s happening now is that there’s been a kind of a negativity bias in coverage,” Krugman said, pointing to a “media failing” when it comes to accurately covering the realities of what most Americans are experiencing in this economy.
“If you ask people how’s your financial situation, it’s pretty favorable,” Krugman said. “You ask them how’s the economy, they say, ‘Oh, it’s terrible.'”
And partisanship is a large driver of that divide.
“They want their Biden recession,” Krugman said. “They’re going to have it, nevermind the fact that … there’s not a recession in any technical sense.”
Krugman agreed that it is a complicated economic picture, and that a lot of the numbers aren’t consistent with each other, but that too is not surprising.
“We’re recovering from a pandemic,” Krugman said. “You’d expect a lot of things to look kind of weird right now.”

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Lawmakers pan Ben Gvir for ‘unforgivable’ tweet on alleged Israeli strike on Iran – The Times of Israel

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3 hours ago

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April 19, 2024

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Italian FM says Israel gave US ‘last minute’ warning about drone attack on Iran

CAPRI, Italy (AP) — The United States told the Group of Seven foreign ministers that it received “last minute” information from Israel about a drone action in Iran early this morning, Italy’s foreign minister says.

Italian Foreign Minister Antonio Tajani, who chaired the meeting of ministers of industrialized countries, says the United States provided the information at session this morning that was changed at the last minute to address the suspected attack.

Tajani says the US informed the G7 ministers that it had been “informed at the last minute” by Israel about the drones. “But there was no sharing of the attack by the US. It was a mere information.”

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Early Friday, Iran fired air defenses at a major air base and a nuclear site near the central city of Isfahan after spotting drones, part of an apparent Israeli attack in retaliation for Tehran’s unprecedented drone-and-missile assault on the country last weekend.

In a communique following the three-day meeting, the ministers urged the parties “to prevent further escalation.”

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's

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7 hours ago

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April 19, 2024

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation.  Barron’s

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's

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8 hours ago

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April 19, 2024

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DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation.  Barron’s

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