When “great economic news” isn’t

(AP Photo/LM Otero)

I’m not sure why I feel so compelled to make this post other than to document to my own satisfaction the outrageousness of Donald Trump’s complaint that the mass media is ignoring “the great economic news” since he took office. This ridiculous campaign to ping the minds of his supporters follows the pattern that I and many of my friends have expressed as honest concern for America. It’s the responsibility of every citizen to keep themselves informed, and I guess that’s what I’m trying to do here.

So, with apologies for burying the lede, let’s begin with the president’s assertions and his evidence.

The Dow and the Nasdaq are up since January. Well, yes, but they’ve been trending up for many years (since the collapse in 2008 corrected by Trump nemesis, Barack Obama).

According to Mother Jones, employment for the “drilling and energy sectors” has been flat since Trump took over, and “the S&P 500 Energy Sector has been dropping all year and is well below its Election Day level.”

600,000 new jobs? This is highly misleading, but who cares, right? Newsweek did some necessary research: “So far in 2017, the U.S. economy has added an average of 178,000 jobs per month—slightly lower than the 2016 average of 187,000 under the Obama administration. And Trump is currently some way short of his promise to create 25 million jobs in the next decade, or 208,333 per month.”

Unemployment has been on a downward path for many years, including when that awful Barack Obama was in office.

There are no real studies on “enthusiasm,” so even if we give that to the president, the whole glowing Twitter report is badly inflated.

What Donald Trump has accomplished with these tweets, however, is to make yet another assault on the press as “fake news” and provide talking points for followers who will gobble them up like candy. This is beyond dangerous for a free society that must rely on accurate economic forecasts to help the rest of us cope. Here’s what I mean.

The 1,000 Carrier jobs that Trump “saved” during the election were not saved at all. All will be gone by Christmas. The new coal mine that was opened in Pennsylvania was approved long before the president was even elected. According to CNN Money, “Get ready for more ‘closing sale’ signs in the windows of your local retailers.” It’s really quite dismal for retail. Malls closing. Department stores closing. Even mom & pop stores are closing. And then there’s this from CNN Tech:

Robots have already cost millions of factory jobs across the nation.

Next up could be jobs at your local stores.

 Between 6 million to 7.5 million existing jobs are at risk of being replaced over the course of the next 10 years by some form of automation, according to a new study this week from by financial services firm Cornerstone Capital Group.

That represents at least 38% of the current retail work force, which consists of 16 million workers. Retail could actually lose a greater proportion of jobs to automation than manufacturing has, according to the study.

There’s absolutely nothing about any of this that’s coming from the White House, least of all a plan on how the have-nots (you and me) will deal with this stuff. Maybe that’s what makes me so sick about the prancing Donald Trump, who is really only in this for himself and his silk stocking buddies.

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