The broadcast networks (ABC, CBS, and NBC) dedicated almost three and a half minutes (3:28) of their Thanksgiving eve newscasts to hyperventilating about whether or not high winds would keep the balloons in the Macy’s Thanksgiving Day Parade grounded. Meanwhile, the economic growth numbers from the summer were out and showed more positive news. NBC Nightly News was the only newscast to mention the growth, but they quickly dismissed it in favor of fretting over the trade war with China.
“And on the issue of your money, new numbers show consumer spending rose again last month continuing to fuel growth,” announced fill-in anchor and NBC White House correspondent Kristen Welker before taking a negative turn, “but there are fears the trade war with China could spell trouble.”
NBC correspondent Gadi Schwartz spoke with the owners of an Arkansas blacksmithy who were excited by the economy, but were feeling the pinch from tariffs against Chinese steel:
SCHWARTZ: How do you guys see the economy right now?
CORKY BAKER: It’s fantastic. We couldn't ask for better.
SCHWARTZ: But even here, among the forges of Arkansas, they are feeling the effects from this trade war with China.
C. BAKER: When the tariffs were announced within a matter of days, we got a letter from our steel supplier.
“For now, they’re eating the costs and forging ahead through a trade war with no end in sight,” Schwartz declared. But that wasn’t true.
According to CBS Evening News reporting from November 7, there were serious signs that the trade war with China was nearing its end. “Word of a possible trade deal with China sent stock markets soaring to new record highs today. The Dow shot up more than 180 points, breaking the all-time high set earlier in the week,” reported anchor Norah O’Donnell in a news brief.
NewsBusters previously reported that NBC Nightly News had spiked that good economic news too.
At the time, Fox News Channel’ Special Report anchor, Bret Baier reported that, “Media reports say the world's two largest economies have agreed to rollback existing tariffs as part of that first phase of an overall trade agreement.”
For Wednesday’s report on the summer’s economic growth, Baier noted:
Meantime, the U.S. economy grew at a moderate 2.1 percent annual rate over the summer, slightly faster than first estimated. Many analysts, though, are estimating economic growth is weakening in the current October to December quarter to around 1.4 percent, is the guess, as effects of the trade war with China overshadow holiday spending.
“However, if that is the case, no one told the markets. Another day of record closes on Wall Street today. The Dow gaining 42, the S&P 500 finishing ahead 13, the NASDAQ rose 57,” he quipped.
The transcripts are below, click "expand" to read:
Fox News Channel’s Special Report
November 27, 2019
6:10:51 p.m. EasternBRET BAIER: Meantime, the U.S. economy grew at a moderate 2.1 percent annual rate over the summer, slightly faster than first estimated. Many analysts, though, are estimating economic growth is weakening in the current October to December quarter to around 1.4 percent, is the guess, as effects of the trade war with China overshadow holiday spending.
However, if that is the case, no one told the markets. Another day of record closes on Wall Street today. The Dow gaining 42, the S&P 500 finishing ahead 13, the NASDAQ rose 57.
NBC Nightly News
November 27, 2019
7:13:55 p.m. EasternKRISTEN WELKER: And on the issue of your money, new numbers show consumer spending rose again last month continuing to fuel growth, but there are fears the trade war with China could spell trouble. NBC’s Gadi Schwartz visited one company proud to make its products in America but also worried about the future.
[Cuts to video]
(…)
GADI SCHWARTZ: This is a family business in the foothills of the Ozarks with 40 employees, 12 master blacksmiths, and father and son Corky and Andy Baker the owners of Stone County Ironworks, who say business is booming.
(…)
SCHWARTZ: How do you guys see the economy right now?
CORKY BAKER: It’s fantastic. We couldn't ask for better.
SCHWARTZ: But even here, among the forges of Arkansas, they are feeling the effects from this trade war with China.
C. BAKER: When the tariffs were announced within a matter of days, we got a letter from our steel supplier.
SCHWARTZ: On the biggest project you were working on.
C. BAKER: The biggest project in the history of the company, saying that our stainless steel price, which is the vast majority of the cost was going to go up by 25 percent.
SCHWARTZ: For now, they’re eating the costs and forging ahead through a trade war with no end in sight. Gadi Schwartz, NBC News, Mountainview Arkansas.
(…)
