Tag: New York Times

Paul Krugman’s WORST Economic Predictions

Always a staunch enemy of the GOP, Paul Krugman’s partisanship has gone into overdrive in the Trump-era to the point where he appears to be suffering from Stage 4 Trump Derangement Syndrome. Even CNN appears tame by comparison.

President Trump has personally blasted the columnist for losing all credibility with his “false and highly inaccurate writings,” and there’s no hyperbole there.

On the night of the election Krugman made his first prediction of what would follow economically – and his predictions have only been downhill from there.

The Stock Market is Doomed Under Trump!

When it became clear that Donald Trump would win the presidential election late into the night on November 8th, the futures market initially panicked, with the Dow Jones shedding over 800 points.

Before the markets even had the chance to open the following day, Krugman took to his New York Times column to predict they would never recover. “It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? … If the question is when markets will recover, a first-pass answer is never.”

The Dow closed up 250 points the next morning – and you all know what’s happened since.

Admittedly I’m not sure how to calculate the margin of error on the difference between “never” and “the next day.”

Krugman in 2017 – There Will Be No Return to 3% Growth

Appearing on Bloomberg in March 2017, Krugman expressed doubt that we’d be seeing a return to 3% economic growth under the Trump administration.

He reiterated the same point later in the year on Twitter, arguing that it would be difficult to achieve 3% growth due to baby boomers leaving the workforce.

Now, the Trump tax cuts didn’t take effect until the start of 2018, and growth was 3.1% from the fourth quarter of 2017 to fourth quarter of 2018. Even more impressive, the economy was only projected to grow 2% according to the baseline under Obama.

A Recession is Coming!

In February Krugman predicted that a recession is coming “this year or next.”

We’ve gone a decade without a recession (which historically occur roughly every seven years), so it wouldn’t be all to surprising if the economy did see a brief recession sometime in the future. But don’t be ready to give Krugman any credit for his predictive ability, because he’s been predicting a recession under the Trump administration every single year of his presidency. Anyone can be a prophet when they make the same prediction every day.

It is worth noting how Krugman has dialed back the severity of his prediction. On election night Krugman predicted that Trump would throw the entire planet’s economy into a recession. He now admits “By the way, my track record for this is bad—as is everybody’s. No one is good at calling these turning points.”

No kidding.

A Historical Comedy of Errors

It’s not just under the Trump-era that the world’s most arrogant economist has butchered his predictions.

In 1998, Krugman dismissed the rise of the internet’s popularity and its eventual economic effects: “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”

Only four years later Krugman came up with a plan to save the economy from the technology bubble which had just went bust – create another economic bubble! “To fight this recession the Fed needs…soaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.” And with that came the worst financial crisis since the great depression.

And that’s not all! In 2010 he predicted that we’d begin experiencing deflation – when in reality we experienced relatively low inflation. In 2008 he predicted that Europe would outperform America economically – and then the financial crisis hit, and Europe was hit far harder than the U.S. (and took much longer to recover from it). On eleven occasions between April 2010-July 2012 Krugman predicted that the Euro would collapse – which obviously never happened.

Next time you see a prediction from the New York Times’ economic expert, be sure to take it with a grain of salt. Or perhaps a pound of salt.

Sick NYT Op-Ed: “Pregnancy Kills. Abortion Saves Lives”

Pregnancy is dangerous; abortion can be lifesaving.”

That is the twisted claim of late-term abortionist Warren M. Hern in his New York Times op-ed titled,   “Pregnancy Kills. Abortion Saves Lives.”

The opinion piece–which is a response to the new Alabama law limiting abortion procedures–claims that every pregnancy carries a health risk and that abortions can be “lifesaving.”

“A woman’s life and health are at risk from the moment that a pregnancy exists in her body, whether she wants to be pregnant or not,” writes Hern.

However, as Breitbart points out, “What Dr. Hern knows but does not say is that while pregnancies are rarely fatal, abortions always are. As a practitioner of late-term abortions he has seen babies literally ripped apart.”

Hern writes, “Alabama’s new law claims that it does not prohibit abortion if there is a ‘reasonable medical judgment’ that the pregnancy poses a ‘serious health risk’ to the woman. But pregnancy itself poses a ‘serious health risk’ — including the risk of dying and losing all bodily functions.”

For the full report, click HERE.

Trump Pushes to Designate Muslim Brotherhood as Terrorist Organization

President Trump has asked his administration to figure out a way to designate the Muslim Brotherhood as a terrorist organization, according to the Daily Caller.

The news was originally reported in the New York Times, and White House Press Secretary Sarah Sanders has confirmed the reporting, telling the paper, “The president has consulted with his national security team and leaders in the region who share his concerns, and this designation is working its way through the internal process.”

The group is opposed to Egyptian President Abdel Fattah el-Sisi who asked President Trump during a meeting on April 9 to designate them as a terror organization.

The plan to label the group as a terrorist organization has the backing of Secretary of State Mike Pompeo and National Security Adviser John Bolton, while others in the Pentagon disagree and are seeking a more “moderate” solution.

The Daily Caller notes, “Seven countries, including Russia and Saudi Arabia, have made the designation. The sanctions imposed would punish those who fund the group or provide banking services, and ban members or those with ties to the group from entering the United States.”

The designation would mark a stark contrast from the Obama administration, which invited Muslim Brotherhood leaders to President Obama’s infamous American apology speech in Cairo in 2009.

The Obama administration also invited Muslim Brotherhood leaders to the White House in 2012.

 

Report: ABC, CBS, NBC Completely Ignore NYT Anti-Semitic Cartoon Controversy

ABC, CBS and NBC broadcast morning and evening news shows have completely ignored the controversy surrounding the New York Times’ anti-Semitic cartoon, according to a Newsbusters report published Monday afternoon.

Newsbusters writes:

Since Saturday morning when The New York Times issued its first statement concerning a blatantly anti-Semitic propaganda masquerading as a political cartoon in Thursday’s international edition, the flagship broadcast network morning and evening newscasts of ABC, CBS, and NBC have ignored the despicable image depicting President Trump and Israeli Prime Minister Benjamin Netanyahu.

This all despite the fact that since Saturday night, each outlet led with the deadly shooting at Chabad of Poway synagogue in San Diego–a disturbing act allegedly carried out by an anti-Semitic 19-year-old.

Fake news CNN covered the New York Times story, devoting over 12 minutes to the shameful cartoon through 12:00 p.m. ET on Monday afternoon. MSNBC dedicated a whopping 61 seconds on the story.

For the full report, click HERE.

Media FOIA Requests Skyrocketed After Trump’s Election

Freedom of Information Act (FOIA) requests by mainstream media outlets into the EPA skyrocketed immediately after President Trump took office, according to the Washington Free Beacon.

The Beacon writes, “The New York Times, for example, made just 13 FOIA requests during the four years of Obama’s second term, sending 3 in 2013, 1 in 2014, 7 in 2015, and 2 in 2016. The number of FOIA requests the Times sent for Obama’s entire second term was nearly quadrupled in the first year of Trump’s presidency alone, when the Times sent 59 FOIA requests to the EPA.”

Since Trump took office, New York Times reporters have made over 100 FOIA requests–a 669 percent increase from the requests made during the four years of Obama’s second term.

**LISTEN: Dan discusses the real collusion scandal in the 2016 election involving Ukraine**

The Washington Post filed just one EPA FOIA request during Obama’s second term, but has now filed 43 requests since President Trump was elected.

“The sharp increase in FOIA requests to the EPA was also apparent at Politico (15 requests in Obama’s second term, 198 since Trump took office), The Hill (20 requests in Obama’s second term, 67 since Trump took office), CNN (25 requests in Obama’s second term, 47 since Trump took office), Buzzfeed (18 requests in Obama’s second term, 38 since Trump took office), and ABC News (4 requests in Obama’s second term, 32 since Trump took office),” writes the Free Beacon.

For the full report, click HERE.

House Republicans to Subpoena James Comey and Loretta Lynch

House Judiciary Committee Chairman Bob Goodlatte (R-VA) is planning to subpoena former FBI Director James Comey and former Attorney General Loretta Lynch to have them testify in front of Congress before the GOP loses control of the House, according to The Hill.

Goodlatte plans to question the two on matters relating to their “decision making” during the 2016 presidential race, a committee aide told the publication.

Republican committee members are looking to have Comey testify on November 29, and Lynch on December 5.

GOP members of the House Judiciary and Oversight committees are “eager” to question Comey on his controversial decision to not recommend a criminal indictment against Hillary Clinton for her use of a private email server while she was Secretary of State.

They also wish to ask Comey about his the memos he kept of his meetings and conversations with President Trump.

Goodlatte informed Democrat Congressman (and presumed incoming committee chairman) Jerrold Nadler (N.Y.) of his plans to subpoena Comey and Lynch. Nadler responded to Goodlatte’s decision in a statement, saying it came “out of the blue.”

“It is unfortunate that the outgoing Majority is resorting to these tactics,” Nadler said.

“Months ago, Director Comey and Attorney General Lynch both indicated their willingness to answer the Chairman’s questions voluntarily. My understanding is that the Republicans have had no contact with either the Director or the Attorney General since.”