Bad Journalism
Hmm. Maybe Trump *does* have a point about the lying press after all. Here’s the Reuters headline:
“Biden, Trump to woo union workers in Michigan as auto strikes grow”
So where are Trump and Biden going to woo union workers?
“Former President Donald Trump is scheduled to visit a Macomb County automotive supplier of engine and transmission parts Wednesday, the day after President Joe Biden is set to visit a United Auto Workers picket line in Wayne County.”
Wait, tell me about this Macomb county automotive supplier that has striking union workers.
“Trump is going to speak to non-union non-striking workers, at the invitation of their management, with support from the organization pushing Right To Work (anti-union) laws.”
Ah, *those* striking union workers.
Feh.
Trump vs Biden in Michigan
You think that the striking union workers at that plant won’t be listening in to whatever the Orange One has to say?
In a word: no.
I hope yer right.
Trump says he always had autoworkers’ backs.
AP – Sep 26
Union leaders say his first-term record shows otherwise
Sorry, you lost me after Trump says . . .
Every word Donald Trump speaks is a lie, including “and” and “the.”
I never really entirely got over 2016, when HRC expected to win, and was expected to win the Great Lakes states, and didn’t, for reasons never entirely explained. Except she just didn’t get the votes. And she wasn’t likeable enuf.
Joe Biden was & did. But it was still close. And Dem votes in that region are not to be taken for granted. Trump & Biden both know this.
I would add, as an example, yesterday’s stories in the NYT and elsewhere with a headline that there is no evidence of DeSantis’ involvement in force feeding Guantanamo inmates. There is evidence: the testimony of former inmates. What the story actually is about is the lack of corroborating evidence and it goes on, buried deeply, to state that documentary evidence from the Pentagon and CIA is being withheld. Very misleading headline.
@Jack,
I don’t read the NYT anymore for the same reason I never read the WSJ. Neither can be trusted, based on many examples.
Sort of like why I don’t read the WSJ, which is that it’s behind a paywall.
The S&P 500’s Summer Rally Fades Away
The S&P 500 is down around 1.2% in midday trading, on track for its lowest closing value since June.
(Wall St is tanking today.)
S&P 500: 4,271.59 -65.85 (-1.52%)
Dow 30: 33,597.77 -409.11 (-1.20%)
Nasdaq: 13,062.08 -209.23 (-1.58%)
Markets close in 1 hour.
@Fred,
*yawn*
The market has been moving sideways for months because of interest rates. Its current downturn probably has to do with the pending House gov’t shutdown. Only fools and day traders (but I repeat myself) follow market changes day-to-day.
It’s more like following it month to month.
As I mentioned awhile ago, after being down hugely last year, it was coming back slightly over the first 6 months of the year but has taken a turn for the worse and all (modest) gains for the year have been wiped out, and now it’s heading for another loszs on the year. The last quarter is usually miserable, so that at least won’t be a surprise.
Sideways? Yeah, right.
@ Fred,
Looks pretty sideways to me. Of course, I’ve only been an investor for 40 years.
https://ycharts.com/indicators/sp_500_2_year_return
A sideways market, sometimes called sideways drift, refers to when asset prices fluctuate within a tight range for an extended period of time without trending one way or the other. Sideways markets are typically described by regions of price support and resistance within which the price oscillates. – Investopedia
As I said, the markets were moving steadily upward (more or less) through July. It may be asserted that there was no good reason for this, alas. But had they continued, they’d have been up about 8% or so for the year. All that has been lost in the last month, and there is no particular reason, given the state of affairs in the US, to expect a recovery in the coming quarter. It will probably be down another 10% for this year after the 20%+ drop last year.
I would take ‘sideways’ at this point.
@Fred,
A sideways market, sometimes called sideways drift, refers to when asset prices fluctuate within a tight range for an extended period of time without trending one way or the other. Sideways markets are typically described by regions of price support and resistance within which the price oscillates. – Investopedia
As I said, we’ve been in a sideways market. The headline in the link below is “Wall Street moves sideways as investors look to Fed.” Your prophecy about a future decline is noted.
Wall Street Moves Sideways as Investors Look to Fed.
Inside the Unfounded Claim That DeSantis Abused Guantánamo Detainees
NY Times – Sep 24
A former prisoner’s story of mistreatment at the hands of Ron DeSantis made headlines. But The New York Times found no evidence to back it up.
@Fred Dobbs,
See my post above. The Pentagon and the CIA are refusing to release documents that might bear on the question. Why would you believe the authorities about any aspect of Guantanamo?
Biden is antiunion. He threw the union RR workers under the bus. Now, he is hastily trying to find support from the folks he doesn’t support.
‘Most Pro-Union President’ Runs Into Doubts in Labor Ranks
NY Times – Dec 27, 2022
(By the way, one way I know I’m a centrist is that I am hardly pro-Union at all. At least Joe Biden is ostensibly pro-Union.)
@doug,
I don’t think Biden is “anti-union,” but he’s not pro-union either. If you think he’s as bad a choice for labor as Trump, you haven’t been paying attention. And Biden or Trump is the only choice in 2024.
President Biden joined a group of striking autoworkers on a picket line in Michigan on Tuesday
NY Times – just in
Biden makes presidential history, joining the UAW strike picket line
AP – earlier today
Trump to make play for Michigan’s working-class voters
CNN – Sep 27
Donald Trump, the front-runner in the GOP presidential primary race, may not get a welcome from union leaders as warm as President Joe Biden did in Michigan when he skips the second GOP debate and instead addresses current and former union members outside Detroit.
But his decision is laying the groundwork for a 2024 general election battle over the working-class voters that helped propel him to the White House in 2016 but favored Biden in 2020. It’s the clearest signal yet of the campaign’s shifting focus to the general election and specifically a potential Trump vs. Biden rematch. …
… Trump is likely to be well-received during his visit to Macomb County. The suburban county is historically a blue-collar stronghold where the “Reagan Democrat” voter emerged. Trump won it by about 11 percentage points in 2016 and 8 percentage points in 2020. More recently, the county has been something of a battleground. In 2022, Democratic Gov. Gretchen Whitmer won the county by 5 percentage points.
“Macomb County has a big batch of union members and they’re a pro-Trump county, but not by much,” said Barry Goodman, a former Michigan Democratic National Committeeman.
Biden won Michigan union households by 25 points in 2020, according to CNN exit poll data – up from Hillary Clinton’s 13-point advantage among them four years earlier. …
Trump to make play for Michigan’s working-class voters as he skips GOP debate
Trump rails against electric cars in Michigan while his GOP challengers debate
Boston Globe – Sep 27
(There are no gear shifts in electric trucks, evidently.)
There’s a story in the Boston Globe today that the Orange One won last night’s GOP debate (with a grade of A) simply by not being there, letting the small people tear each other up. Niki Hailey got a B+. Chris Christie a B. Tim Scott a D. Mike Pence an F. Others got C’s.
*yawn*
Somewhat off topic.
There is this development in NYC where a judge has put Trump and his sons out of business in New York, apparently.
Appeals Court Rejects Trump’s Effort to Delay Trial in Fraud Case
NY Times – just in
@Fred,
We’ll have to see if it holds up on multiple appeals. It ain’t over.
Off topic, but for all the Heather Cox Richardson fans around here…
From small town Maine, Substack luminary Heather Cox Richardson discusses her new book about the rise of authoritarianism in the US
Boston Globe – Sep 26