Behold, right on cue, the latest example of
media inversion. Yesterday’s Wall Street Journal story transformed record-breaking good stock market news into financial doom with a headline Eeyore would have loved: “
Stock Market Today: Trump Vows Tariffs on Movies Made Abroad; Dow Futures Slip.” But the sub-headline flipped the script, revealing the truth that, “The S&P 500 rose for nine straight sessions through Friday, the longest winning streak in more than two decades.” That stunning admission was immediately capped by a depressing “futures” chart:
“Stock futures” are just bets on what the market will do next. So, they mainly reflect media mood manipulation rather than anything tangible. It must have been the only thing the reporter could find going the wrong direction that would provide a sufficiently depressing cover image.
The good news in the sub-headline, that the market just set
a 20-year record for daily increases, was completely
absent from the story. Not only should that singular fact have made up most of the story’s contents, but the article’s headline
should have been, “Markets on Historic Run as Trump Expands Tariff Strategy.”
The Journal hates tariffs and the president who made them.
Appropos, here is a clip of President Trump on Air Force One this weekend, scolding the WSJ’s reporter that he works for a “rotten newspaper.” The President said it
twice, slower the second time, to make sure the reporter got the message.
CLIP: Trump unfavorably reviews the Wall Street Journal (0:17).
The President asked, “Who are you with?” When the reporter answered, Trump sorrowfully said, “the Wall Street Journal has truly gone to hell. It is a rotten newspaper. Did you hear what I said? It's a rotten newspaper.”
Well? He’s not wrong.
CIA fires military vax architect; NYT spins financial doom; Trump team cuts deeper; media cries over stock surge; DOJ targets pandemic profiteers; Florida AG defies federal judge in looming showdown.
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