Nearly a year has passed and the stock market catastrophe that CNN was predicting was just on the horizon because of President Donald Trump’s tariffs still never materialized.
CNN Business Executive Editor David Goldman tried to stoke the fires of doom in April 2025 by crying about an impending “great depression” in the stock market. “We’re suddenly talking about the Great Depression when discussing Trump’s stock market,” read Goldman’s sensationalistic headline. He further snorted that “Trump’s stock market is throwing off some jaw-dropping statistics. How extraordinary? We’re now making comparisons to the Great Depression.”
Fast forward to February 2026, and CNN published the following headline: “Stocks hit historic milestone as Dow crosses 50,000 points for first time ever.” Oof!
CNN markets reporter John Towfighi summarized that “[t]he Dow’s ascent is emblematic of the stock market’s persistent rise despite recent tumultuous geopolitical events,” indicating a bull market running into its fourth year. But according to Goldman’s spin last April, “Trump has a long way to bounce back to avoid history.” My goodness! Talk about setting yourself for total embarrassment.
SORRY, PANICANS: The Dow Jones Industrial Average just surpassed 50,000 for the first time in history 📈📈📈 pic.twitter.com/p8t4ltfj1B
— Rapid Response 47 (@RapidResponse47) February 6, 2026
Investors are reportedly crediting the Dow boom to a “resilient economy and healthy corporate earnings,” according to The Wall Street Journal. That, er, “resilient economy” was supposed to go kaput by now, if you were following the never-ending cacophony of lefty media spin from CNN proper, other outlets like MSNBC (or MS NOW), or brain rot media talking heads like Paul Krugman.
Significant progress has been made on tariff negotiations, for sure. Trump announced a significant trade deal with India three days ago, which “slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and lowering trade barriers,” according to Reuters. In addition, the deal would reportedly be marked by higher “Indian purchases of U.S. energy, coal, technology and farm products, and is the first phase of a broader pact to be negotiated later.”
And for all the bluster about a “Great Depression,” consumer sentiment has also reportedly hit an unexpected tailwind. The University of Michigan’s Survey of Consumers reported a six-month spike in consumer sentiment as of February 2026, which ABC News summarized as “defying economists’s expectations.”
Perhaps CNN may want to think about issuing a retraction on Goldman’s nonsense. But who are we kidding!
