Is TikTok Making Americans Hate the Economy?

Dan Pfeiffer: “Ignoring TikTok, the overall media coverage of the Biden economy has been relentlessly and inaccurately negative. For more than a year, the public was bombarded with reports about an impending recession that never materialized. Who could forget a few years ago when the news was filled with stories about turkey scarcity at Thanksgiving and holiday presents that would never arrive because of supply chain issues? The stories about the potential problems led the news and trended online. When the turkeys were in stock and the holiday presents arrived, most news outlets buried the stories. To use an outdated media metaphor — the economic problems are ‘on A1 above the fold’ and buried in the middle of the paper.”

“The media has always had a relentless focus on bad news. People used to say ‘if it bleeds, it leads,’ referring to how local news always led with crime, fires, and car accidents. A decade ago, CNN covered the missing Malaysian airplane 24-7 for months even though there was no news. This addiction to bad news has worsened since mainstream media outlets came to depend on social media traffic for ad revenue.”

“Social media — particularly TikTok — is arguably worse. The most viral posts on the economy have been overwhelmingly negative. Even if the anecdotes themselves are accurate, they lack the broader context about shrinking inflation and rising wages.”