November 30, 2017

Media Gatekeepers Keep Kate Steinle’s Name Out of Tweets, Most Headlines

A San Francisco jury found Jose Ines Garcia Zarata, aka Juan Francisco Lopez-Sanchez, aka several other undisclosed aliases, not guilty in the death of Kate Steinle on Thursday. Two leading wire services, CNN, the Washington Post, and the New York Times kept Steinle’s name out of their tweets, and all but two kept it out of their stories’ headlines.

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Positivity: How Tampa Serial Killer Suspect Was Caught

Filed under: Positivity — Tom @ 9:40 pm

Answer: an alert employee

Published: November 29, 2017, 10:54 am
Updated: November 29, 2017, 10:54 am

After a 51-day manhunt, police have made an arrest in four murders in the Seminole Heights area.

Late Tuesday night, Tampa Police Chief Brian Dugan and Mayor Bob Buckhorn announced the arrest of 24-year-old Howell Emanuel Donaldson III. Donaldson is charged with the murders of Benjamin Mitchell, Monica Hoffa, Anthony Naiboa and Ronald Felton.

Donaldson was taken into custody Tuesday afternoon at the McDonald’s restaurant he works at in Ybor City.
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Arrogant, Ignorant Velshi at MSNBC Lies About Tax Plan Impact, and Doesn’t Even Know It

MSNBC’s Ali Velshi and co-host Stephanie Ruhle apparently gained a bit of far-left street cred in August when they fiercely berated a Donald Trump supporter with an usually strong dose of condescension, telling him that “You can’t just lie on TV” about the economy. On Monday, Velshi lied about the estimated impacts on various income groups of the GOP tax plan published by Congressional Budget Office and didn’t even know it — because he had no idea that the table he used contained completely different and irrelevant data.

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Ali Velshi’s Arrogant, Ignorant Mid-August Claim About Obama’s Credit for the Stock Market

Filed under: Economy,Taxes & Government — Tom @ 7:08 pm

In mid-August, Ali Velshi of MSNBC, with the help of co-host-Stephanie Ruhle, angrily berated Trump adviser Brad Thomas when Thomas attempted to give the Trump administration some credit for the post-election rise in the stock market.

Here’s the historical record for the Dow Jones Industrial Average, with key data points added by me:

DJIA010108through113017

Several important points must be made here for the historical record to correctly assign credit and blame:

  • Velshi should know that properly attempt to assign credit or blame for stock market performance to president, the relevant data points are election days, not inauguration days. Once the markets know who’s in charge, they react accordingly. A supposedly experienced financial journalist should know that expectations largely drive market valuations.
  • Velshi was incredibly disingenuous in measuring the Obama administration’s performance from March 9, 2009. Just look at the chart for the period Election Day 2008 and March 9, 2009. On November 7, 2008, the Dow Jones Industrial Average was at 8,944, and the effects of the recession were already priced in.
  • During the next four months the DJIA fell by almost 27 percent to 6,547. That’s because investors fully expected, and were unfortunately then proven right, further dampening expectations, that the Obama administration’s Keynesian nonsense would hold sway in Congress, giving rise to a “stimulus plan” which was destined to accomplish nothing meaningful and cause deficits and the national debt to explode. More broadly, it was clear that Obama intended to ramp up the government’s regulatory over-reach, particularly in the financial sector and over environmental matters. Market declines accelerated, and monthly job losses increased, because of Obama’s stated intentions. (The fact that in December 2008, the President-elect sided with the members of a union which illegally took over a bankrupt window company in Chicago [he said, "They're absolutely right"], a situation which led to two banks paying out money to make the union members go away at virtual gunpoint, only added to the climate of fear in the business community.)
  • As seen in the chart, the DJIA went absolutely nowhere from December 26, 2014 until November 1, 2016. That’s a nearly two-year perpendicular line in Velshi’s falsely claimed “straight-line” upward growth — an interruption any reasonable person would consider significant. Why did it occur? Partially because the economy was showing that it was not going to shake out of its post-recession doldrums, especially with the Obamacare premium-hike overhang, while it also became clear that the 2015-2016 Congress wasn’t going to do anything to alter the Obama administration’s business-hostile priorities.
  • Thus, a proper evaluation of the stock market as Donald Trump has affected it would begin on November 8, 2016, when the DJIA closed at 18,333. The day after Donald Trump was elected, the markets shook off their two-year stupor and began heading up again on sustained basis. Since then, in just over a year, the DJIA has gone up by over 32 percent, hitting a record close of 24,272 on Thursday. Even a commentator at the mostly left-leaning Bloomberg News has conceded thatTrump Deserves Some Credit for the Rally in Stocks,” specifically because “Less regulation is one campaign promise made by the president that is coming true.”

The bottom line: President-elect Obama did everything he could to tank the markets in an attempt to get all the credit when they came back. The markets rose during the next five years, but hit a plateau which lasted from late-December 2014 until just before Election Day in 2016. After that the markets have, through November 30, advanced on a sustained basis by 32 percent — an advance for which Obama deserves no credit, and for which Donald Trump deserves some.

Related: ”10 Reasons Why the 2017 Record Stock Market Rally is Due to President Trump’s Actions”

 

 

Thursday Off-Topic (Moderated) Open Thread (113017)

Filed under: Lucid Links — Tom @ 6:00 am

This open thread is meant for commenters to post on items either briefly noted below (if any) or otherwise not covered at this blog. Rules are here.