For many journalists, predictions have been more important than facts

American Thinker ^ | 09/12/2019 | Jack Hellner

[SeekAndFind]

Whenever journalists and other Democrats want to put out a negative article on the economy when the economy looks pretty good, they can always go to Moody's and Mark Zandi.  Now Zandi is pulling numbers out of a hat to say Trump's trade war will cost 450,000 manufacturing jobs by the end of this year and 900,000 by the end of next year.

Trump's trade war has killed 300,000 jobs

Forecasting firm Moody's Analytics estimates that Trump's trade war with China has already reduced U.S. employment by 300,000 jobs, compared with likely employment levels absent the trade war. That's a combination of jobs eliminated by firms struggling with tariffs and other elements of the trade war, and jobs that would have been created but haven't because of reduced economic activity.

The firm's chief economist, Mark Zandi, told Yahoo Finance that the job toll from the trade war will hit about 450,000 by the end of the year, if there's no change in policy. By the end of 2020, the trade war will have killed 900,000 jobs, on its current course. The hardest-hit sectors are manufacturing, warehousing, distribution and retail.

Other data back up the Moody's Analytics numbers. Employers have created 1.3 million jobs so far this year, down from 1.9 million during the same period in 2018. The manufacturing sector has actually contracted, with many producers struggling with higher prices caused by Trump's tariffs. Business investment is growing by the smallest amount since late 2016.

Despite what Zandi says, exports and imports continue to be much higher than at any time during Obama's years.

Despite what Zandi and others state or imply, capital expenditure spending by private companies continues to be much higher than during Obama's years.

[Tench_Coxe]

To them, like Biden, “truth” is more important than facts.

[oldbill]

So?

Journalists and politicians, including establishment Republicans, have been making up the number of illegal aliens in the country, using a false “11 million” since 2003.

(Actual current number, 34,287,614)*

* Source: me - I made it up just like Pew.

[1Old Pro]

The corrupt media earning their moniker daily.

[JimRed]

The same ones who predicted a Hillary cakewalk in 2016, no doubt.

[Texas Eagle]

We've known that for as long as FR has been around. During Soetoro's usurpation, we used to make fun of the overly optimistic predictions for the economy blasted on the front pages only to have the actual or, as they say in Libspeak, "revised", numbers buried somewhere in the want ads.

Speaking of which, whatever happened to Jobs Report Thursday?

[GOPJ]

Moody's are the new gypsy crystal ball readers... "Come in to my tent at the New York Times and Washington Post. I will tell you what you want to hear..." Journalists fools hungry for lies to back up their fantasies, sit in the chair and believe... believe ... believe...

If they can't trash Trump with reality they pull out the readings and tell us how horrible Trump will be in the future.

Of course that future doesn't come true - but the damage is done. The democrat base falls for their lies because they're gullible, stupid, and easily played...