Media outlets work overtime to spin bad economic data - News and Current Events | futures io social day trading
futures io futures trading


Media outlets work overtime to spin bad economic data
Updated: Views / Replies:130 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Media outlets work overtime to spin bad economic data

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

Media outlets work overtime to spin bad economic data

The big news Thursday was that America's economy shrank during the first quarter of 2014, its worst performance in three years -- but reporting that news apparently didn't sit well with several major media outlets.

“U.S. economy shrinks, but it's not a big deal,” read a headline on CNNMoney.com.

“Blame Old Man Winter: economy contracts for first time in three years,” NBC News tweeted.

The U.S. Commerce Department's Bureau of Economic Analysis revised the numbers downward from prior estimates to show the nation’s GDP contracted at an annual rate of negative 1 percent. It was the first negative quarter since 2011, and one more three-month stretch in the red would put the U.S. is back in recession. But nightly newscasts sought to present the data as a blip, blaming it on the weather — if they mentioned it at all.

"When the media aren't ignoring bad economic news to protect Obama, they're spinning it into good news.”

- Brent Baker, Media Research Center

“All that snow and ice froze business, but most economists believe it sets the economy up for rebound this quarter and there are some encouraging signs in the numbers,” CBS News’ Anthony Mason reported.



Blame Old Man Winter: economy contracts for first time in three years Economy Contracts for First Time in Three Years - NBC News pic.twitter.com/zahLsLDW4W

— NBC News (@NBCNews) May 29, 2014

Neither ABC nor NBC reported the disappointing numbers at all. The preliminary quarterly estimate from the U.S. Department of Commerce had been that the economy grew at a modest 0.1 percent rate.

Economists, including those at the Federal Reserve, generally agree that unusually brutal weather played a role in the economy contracting by a full percent for the first three months of the year. Some say President Obama’s economic policies didn’t help, either. But while that kind of analysis has a place in fair and balanced reporting, such rosy spin rarely found its way into headlines during the economic doldrums of the Bush administration.

"When the media aren't ignoring bad economic news to protect Obama, they're spinning it into good news,” Media Research Center's Brent Baker, who drew attention to the apparent double standard on the MRC's NewsBusters site, told FoxNews.com. “That sure wasn't a favor the press corps ever provided George W. Bush."

The New York Times used the double entendre "Frigid First Quarter" to characterize both the lack of economic growth and the reason for it, while media outlets more versed in economics, such as Forbes, simply stated the facts up front and allowed informed sources to provide commentary below.

Economist Kevin Hassett, a former advisor to Mitt Romney and now an analyst at the American Enterprise Institute, said the weather was indeed a major drag on the economy.

“I think Obama's policies have absolutely put us on a lower growth trajectory, but I also think that the weather was 99 percent of the story in Q1,” said Hassett, who has written extensively about media bias. “Now, this is, in part, a testable thing. If Q2 includes a major bounce back, of say, 4 percent instead of 2, then the weather story gets more credibility.”

Media outlets work overtime to spin bad economic data | Fox News

Reply With Quote

Reply



futures io > > > > Media outlets work overtime to spin bad economic data

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gold Mint Runs Overtime in Race to Meet World Coin Demand kbit News and Current Events 0 January 26th, 2014 10:38 PM
US Economic Data Reporting Now Officially A Farce: Every Economic Data Point Prints 4 Quick Summary News and Current Events 0 November 30th, 2011 11:30 AM
Bad habits plague economic forecasts kbit News and Current Events 0 June 29th, 2011 03:02 PM
Economic Growth at 1.6%; Bad, But Better Than Thought Quick Summary News and Current Events 2 August 28th, 2010 04:29 AM
Good Earnings, Bad Economic Reports Tug Stocks Two Ways Quick Summary News and Current Events 0 July 17th, 2010 04:40 AM


All times are GMT -4. The time now is 08:39 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.08 seconds with 19 queries on phoenix via your IP 54.160.245.121