Elder Patriot – Yesterday began as another day in financial paradise. The market was continuing it’s upward trajectory that began immediately following the election of super capitalist Donald Trump. The market had made $6.1 trillion for investors since Trump’s election.
Trump’s stated policies and incredible optimism had released the animal instincts the had remained dormant under former president Barack Obama who completely embraced the policies that Ronald Reagan had warned us about:
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
Then ABC News’ Brian Ross delivered a giant nothing burger couched as a breaking story about President Trump’s impending demise following Michael Flynn’s guilty plea. Flynn’s plea was precipitated mostly because his legal bills had surpassed a million dollars and he was being forced to sell his house to pay for them and not for any wrongdoing on Trump’s behalf or Flynn’s for that matter.
Flynn pled guilty to lying to federal investigators. Only he knows why he did that.
The markets react sharply with the Dow shedding more than 350 points almost immediately.
Within hours the new media had pretty much debunked Ross’s account that candidate Trump had ordered Flynn to institute illegal contact with a foreign power.
By the time the markets had closed investors’ fears had abated and the Dow had recovered all but $40.76 points. As the story continued to be exposed for the irresponsible work of a fraudulent reported, after hours trading drove the market past its morning opening.
By 6:30 in the evening Ross tried apologizing for his reckless reporting. CNN reported:
During “World News Tonight,” ABC News investigative reporter Brian Ross said the source who had provided the initial information for his story later told him that it was as president-elect, not as a candidate, that Trump asked Flynn to contact the Russians.
Ross’ quasi correction was met with a barrage of criticism, much of it from major players who watched their money evaporate for no reason.
It was almost 11 p.m. when ABC finally tweeted this correction:
Ross is a partisan hack who has let his political prejudices override the facts before.
In 2012 he said that the Aurora shooter was connected to the Tea Party. That also turned out to be untrue.
With the Senate vote on tax reform, and more economic good news, only hours away, one wonders if Ross’ hit piece was meant to derail the president’s incredible week.
It would be consistent with Trump’s presidency to date where reporting of every success is marginalized by one trumped up scandal or another.