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Wednesday, November 23, 2016

Bloomberg hates to admit President Trump boosts consumer confidence

Bloomberg News reported, reluctantly, that the economy already is taking off after the historic election of President Trump.

Owned by Never Trumper Mike Bloomberg, the newspaper headlined the piece: "Soaring Consumer Confidence: Are Americans Happy It's Trump, or Just Happy It's Over?"

The news service slapped that piece atop a real news story "Consumer Sentiment in U.S. Jumps After Trump Election Victory."

Check out the URL: https://www.bloomberg.com/news/articles/2016-11-23/consumer-sentiment-in-u-s-jumps-after-trump-election-victory

Normally, a news service would have given the "Soaring Consumer Confidence" its own URL, but since Matt Drudge linked the "Jumps After Election Victory" story, editors piggybacked the story with teh Never Trump spin. Cannot let readers know Trump is boosting the confidence of Americans.

Scroll to the original headline, and read:
Consumer confidence rose more than previously reported to a six-month high in November, showing Americans became more optimistic about their finances and the economy after Donald Trump won the presidential election.
The University of Michigan said Wednesday that its final index of sentiment rose to 93.8 from 87.2 in October, after a preliminary reading of 91.6 that reflected pre-election views. The split was stark between respondents in the month’s survey before and after the Nov. 8 vote, with sentiment rising 8.2 points in the post-election group from the pre-election cohort.
The lift suggests that Americans were heartened on the whole by Trump’s victory over Democrat Hillary Clinton, with broad gains in confidence across incomes, ages and regions, according to the report. At the same time, the increase may reflect a “honeymoon” period that could fade unless actual economic conditions improve, said Richard Curtin, director of the Michigan survey.
That is true of almost every president, except this time the press will not give President Trump a honeymoon. In 2008, Bush 43 left President Obama a Dumpster fire of an economy, but the press gave him a honeymoon.

The piggybacked story read:
The consumer expectations index of the survey rose by 8.4 points from October to 85.2 — a one-month gain last exceeded in the December 2011 — a testament to households' optimistic view on the outlook for the U.S. economy and their own pocketbooks.
And 'optimistic' might be an understatement. According to the latest report, in some cases, Americans are the most hopeful they have been in more than a decade. For the first time since 2006, 37 percent of households said they expect their personal finances to improve in 2017. Also hitting decade highs: real income expectations, as wage growth continues to gain strength in a broadening swath of the economy. 
It’s not just on the personal finance front either. The index tracking households' expectations for changes in business conditions over the next year rebounded strongly after tumbling in October, with the share calling for an improvement in this area registering its biggest one-month gain last exceeded in 2008.
Trump wants to Make America Great Again.

This Christmas retail season could be the start of that, economically.

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"Trump the Press" skewers media experts who wrongly predicted Trump would lose the Republican nomination. I use my deadliest weapon: their own words. "Trump the Press" is available as a paperback, and on Kindle.

11 comments:

  1. Of course the majority of consumers are happy that Trump won. This is going to be the merriest Christmas since 2018. And just wait until the New Year. The inauguration isn't until January 20th, but the optimism is already in full swing. Just look at the DOW. - Elric

    ReplyDelete
    Replies
    1. Oops! 2008. - Elric

      Delete
    2. Way to blow your time traveller cover, Elric.

      Just burn the damm sports almanac, and split, man!

      Delete
  2. Those Gotham City newshounds never could join-the-dots re Bruce Wayne and Batman, so Trump's secret identity as The Uptick can probably breathe easy too.

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  3. The market started skyrocketing the day before the election when it came out Frumpty had cancelled the fireworks the previous Thursday.

    Do.
    The.
    Math.

    ReplyDelete
  4. final index of sentiment rose to 93.8 from 87.2 - Hmmm looks like all the protesters aren't quite in tune with the rest of the country? Or maybe they are the ones typing the scales because now they have jobs?

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  5. Twelve months from now, Bloomberg will be bemoaning the "negative contraction" of the economy.

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  6. Patronize small businesses, y'all! This weekend and all the weekends up through Christmas. Shine the moon at Jeff Bezos.

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  7. Drudge linked to Newbusters:

    http://www.newsbusters.org/blogs/nb/rich-noyes/2016/11/23/flashback-trump-trashing-journalists-oozed-over-obamas-08-transition

    Read how the media treated O's transition in contrast. It's nauseating. And they wonder why we hate them. --Burnsie

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  8. This tells us that the people had plenty of latent confidence - they were capable of confidence but needed change first. Obviously a major factor in the TrumpTrain. I'm definitely one of those people, primarily interested in the future we create for my three sons (28, 17, 15) and while Trump has many obstacles before him due to an out-of-control Beltway cartel, I'm much more hopeful than before.

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  9. "Our" media hates us. We've noticed. REALLY noticed.

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