FLASHBACK: NYT Tried to Spin 1970s Stagflation to Protect Jimmy Carter Too

Keep this in mind The New York Times attempted to spin the 1970s stagflation crisis in order to protect former President Jimmy Carter’s political image before the 1980 elections? MRC Business.

The newspaper published a 1979 propaganda piece erroneously headlined, “The 70’s: America Learns To Expect a Little Less,” The piece tried to paint lipstick on the pig of an economic disaster that Carter oversaw. Carter’s policies resulted in stagnant growth and a ridiculous annual inflation rate of 11.3 percent. “[D]Even though there are some signs of a recession coming up next year, economic reality might be more positive than that psychology. The Consumer Price Index does not show that inflation is as bad in terms of actual spending.” The author, who appears to be the late Times business and financial news editor John M. Lee, whitewashed the dangerous economic situation Americans were facing at the time: “The rate of price increase throughout the economy (the gross national product deflator) is less than at this time last year.” [Emphasis added.]

However, it was worse. The Times patronized readers by telling them not to believe what their lying eyes were seeing and to take a more positive perspective on rising energy prices and a slower population growth: 

The high energy prices have forced more efficient consumption of the supply. A slower growth rate means less need for slowing economies’ resources. [emphasis added].

The Times even went as far as to lecture Americans who were pessimistic on the state of the economy under Carter: “At best, the future is uncertain.However, American experiences have shown that the optimists were always the realists.” The inflation rate would later climb higher to an astonishing 13.5 percent in 1980. So much for Lee’s exuberant praise of the “optimists.” [Emphasis added.]

This type of dishonesty has been transferred to how The Times would again cover spiking inflation under Biden, which just hit 8.6 percent on a year-to-year basis for “the highest increase since December 1981.” Former New York Times correspondent Neil Irwin  tried to pull the blinds over inflation concerns as early as November 2021. His story at the time was headlined: “Americans Are Flush With Cash and Jobs. They Also Think the Economy Is Awful.” Irwin, like The Times did back in 1979, gaslit Americans on the inflation that was beginning to noticeably hit their wallets: “Americans are, by many measures,A better financial situationThey are now more than ever before. The economy is also in dire straits according to them.” Irwin, again channeling The Times from 1979, also blamed the “more powerful force” of “the Psychology of Inflation” for turning Americans against the Biden economy. [Emphasis added.]

Irwin made it appear as if Americans’ were just making up the economic plight they were facing from rising consumer prices in their heads. Specifically, Irwin claimed President Joe Biden’s leftist agenda “succeeded at lifting the wealth, incomes and job prospects of millions of people — but has not made Americans, In their self-perception, any better off.” [Emphasis added.]

Conservatives under attackCall the New York Times 800-698-43737 to demand that they report on the Bidenflation crisis.