To Tell the Truth: New York Times Misleads Readers On Stock market Perfomance

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  • 03/02/2023

To Tell the Truth is Human Events News’ press analysis series. These stories will focus on “news” being reported by either The New York Times, The Washington Post, ABC News, NBC News, or CBS News. Despite 24-hour cable broadcasts, and an untold number of internet sources, these established, mainstream platforms continue to influence the majority of American citizens and their political opinions.

The “news” generated by these press is better regarded as “opinion” crafted in a way designed to discourage skepticism and critical thought on the part of the audience. To Tell the Truth will be Human Events News’ periodic effort to help address this bias, and restore the skepticism necessary on the part of all Americans to maintain a free society.

As the stock market has made a dramatic upturn in recent weeks, mainstream media outlets have been quick to attribute the upturn to Joe Biden's projected win.

The New York Times attributed the rally to Biden, along with Pfizer's curiously timed announcement of its successful COVID-19 vaccine trials.

"The S&P 500 stock index soared after Pfizer announced positive results from its early Covid-19 vaccine trials. The news came two days after Joseph R. Biden Jr. was declared the president-elect — putting to rest for now the specter of chaos and political unrest that many investors had feared would follow a loss by President Trump.  Markets had already been on the upswing, as investors warmed to the possibility last week that Mr. Biden would win the presidency and that Republicans could maintain their grip on the Senate.

"U.S. stocks flirted with record levels Monday after progress on a Covid-19 vaccine and Democrat Joe Biden’s electoral victory ushered in a sea change in financial markets, reordering winners and losers," reported The Wall Street Journal.

What the Times did not share with readers, because they do not want them to consider, was the historical information of how the stock market has performed under President Trump.  Sharing such information might lead readers to question why the market would be “happy” with the potential election of Joe Biden.

On January 24, 2017, a few days after President Trump was sworn into office, the Dow Jones Industrial Average stood at 19,912.  On February 13, 2020, just before the onset of the Chinese coronavirus,  the DJIA had risen to 29,423, a 48% increase in value.  When the panic set into the nation’s zeitgeist over the uncertainty of the virus, the DJIA dropped to 18,591 on March 23 of this year.  On  election day, November 3, 2020 the DJIA closed at  27,480, another 48% increase, this time over the low that had been hit less than eight months earlier!

As soon as COVID hit, the Times was quick to connect the correlated stock market crash to Trump.  "Stock Market’s Gain Under Trump Vanishes," the outlet reported, "With another fall on Friday, the Dow Jones average is now lower than it was when President Trump took office."

"In the three years since, Mr. Trump has obsessed over the daily gyrations of the stock market like no president before him. He trumpeted its relentless rise as a validation of his leadership, his financial acumen and his policies. Disappointing days were the fault of Democrats, the media or the Federal Reserve. Stocks, he warned, would crash if he was impeached or “if anyone but me takes over in 2020.”

It was not till the middle of that particular piece, that the Times conceded that " The market collapse isn’t Mr. Trump’s fault, although some of his decisions may not have helped, including his statements minimizing the danger of the virus."

To tell the truth, it is clear the New York Times and other MSM outlets want readers to believe that anything positive that can be found in the daily news is connected to the potential confirmation of Biden/Harris.  The intention is to create an aura of success around the two that will allow them to execute their agenda should they take office with little skepticism or concern on the part of voters.

After all, look what they have done for the stock market

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