Dean Baker: CNN Needs to Buy Its Economic Reporters Access to the Internet

[Nevilledog]

https://cepr.net/cnn-needs-to-buy-its-economic-reporters-access-to-the-internet/

CNN endlessly runs stories on troubled consumers that are completely at odds with government data. While its sources may have useful stories to tell, the government statistical agencies construct their data based on surveys of tens of thousands of individuals and businesses. It is likely that the government data does a better job of describing economic reality.

In this vein, CNN ran a piece last week on how consumers could no longer afford to eat out at restaurants or even fast food restaurants.

“For a while, restaurant customers were trading down — swapping out expensive meals for cheaper ones, but still dining out. Now, some are responding to higher menu prices by trading out entirely: Instead of opting for cheaper restaurants or meals, they’re eating more at home and spending less when they do go out.

“That means that restaurants have to battle it out for these cost-conscious consumers. And now, it’s not just burger chain against burger chain.

“Because fast food joints have been hiking up prices in recent years, dine-in spots like Applebee’s can run promotions that end up costing about the same as a fast food lunch — giving them a chance to try to steal those customers away.”

*snip*

[calimary]

1. OUCH!

[onecaliberal]

2. More of this!

[Attilatheblond]

3. Restaurants & fast food places where I live are always packed

This is not a town full of rich people. Some rich, mostly middle and working class, too many poor, and a military base. The parking lots of eateries are always full in this town of less than 50,000

It sure seems that MSM is trying to convince voters the economy is in the toilet. This is flat out propaganda and a way for media to 'contribute' to GOP campaigns without spending a dime.

[Think. Again.]

4. K&R, but please keep in mind...

...that for-profit media companies only create content that will bring the most eyes to the advertising spaces they sell.

That is what they do, that is ALL they do, and that is the only reason they unlock the door in the morning.

[lostnfound]

5. Really? Does that mean Rupert Murdoch had no political axes to grind?

Owners like to brainwash.

[Think. Again.]

6. fox news is very successful financially.