Record Inequality and Corporate Profits Are What Media Call a ‘Strong Economy’

Last month, CNBC (10/7/19) reassured us that fears of a potential recession are “overblown,” because the “hard data” shows that the “US economy remains strong.”

If you’ve been keeping track of corporate media coverage of the US economy over the past several years, you might have noticed a contradictory pattern. You’ll find that corporate media make ubiquitous references to a “strong economy,” while simultaneously providing many reports on the increasingly impoverished and precarious working class alongside the continuously rising fortunes of the rich.

Last month, a New York Times report (10/20/19) exemplified this seemingly bizarre practice when it wondered why so many workers are striking when we apparently live in such a “strong economy,” because the piece also discussed how “today’s strikes are fueled by a deeper sense of unfairness and economic anxiety.”

Even though corporate media are now warning us not to be too complacent because of a potential imminent recession and slowing GDP growth (CNN, 8/18/19; Wall Street Journal, 10/30/19), references to a “strong economy” and an “economic recovery” from the Great Recession still abound.(Joshua Cho)

Posted by The non-Conformist