The Effects Fake Media And Media Bias On Investing Michael Eastham, Daniel Mitchell – May 7, 2017
Guest: Daniel Mitchell
They always talk about the cost of a tax cut as if the money you earn belongs to the government. And if you get to keep more of it somehow that’s a cost to the economy no, it’s a savings to the economy. It’s a savings to you, so when I watched news stories sometimes and read you know what’s in the Washington Post and New York Times I want to pull my hair out because they have such a government-centric view of the economy. Not to mention since I just said government-centric you know look at their analysis of Keynesian economics, they really think that free lunch theory works. So they think, let’s take money out of the economies right pocket, put it in the economies left pocket and pretend we have more money. It didn’t work for Bush, it didn’t work for Obama, it didn’t work for Hoover, it didn’t work for Roosevelt, hasn’t worked for Japan. And yet the media, the establishment press so often treats Keynesian economics as if it was gold.To give you an example, we were tracking media coverage of Trump on the evening news shows since he took office and it’s eighty-nine percent negative. And what that means for investors is the two topics that he’s running on economic topics of nineteen (unclear 20:48) hundred minutes of coverage of Trump. Only eighteen minutes devoted to jobs, only ten minutes devoted to trade so you can’t just rely on if you watch evening news for these things. You’ve got to look at both liberal outlets like covering the pose conservative outlets, News Busters, Fox business. You’ve got to have a diverse diet.
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