WSJ What’s News: Trump Blames D.C. Plane Crash on DEI, Without Citing Evidence

Episode Release Date: January 30, 2025
Host: Alex Osola
Produced by: Pierre Bienname, Anthony Bansi, and Michael Kosmides

1. Deadly D.C. Plane Crash and Trump's Controversial Statement

The episode opens with a tragic report of a plane crash near Washington, D.C.'s Reagan National Airport. The collision involved a commercial jet carrying 64 passengers, including U.S. figure skaters and Russian former world champions, and a military helicopter with three troops. This incident marks the deadliest plane crash on U.S. soil in over two decades.

President Trump's Claims: In the aftermath, President Trump attributed the crash to diversity, equity, and inclusion (DEI) initiatives within the Federal Aviation Administration (FAA), stating, “Because I have common sense, okay? And unfortunately, a lot of people don't” (02:11). However, he did not provide substantive evidence to support his claims. The National Transportation Safety Board (NTSB) has yet to recover the flight data recorders, leaving the investigation ongoing.

Political Reactions: Former Transportation Secretary Pete Buttigieg criticized Trump’s remarks as “despicable at a time of tragedy,” challenging the president’s unfounded assertions (02:27). Additionally, there was no immediate clarity on whether the Biden administration had indeed altered FAA hiring standards.

2. US Economic Growth and Consumer Spending

Despite the somber news, the episode delves into the state of the U.S. economy. The Commerce Department reported a GDP growth of 2.5% in 2024, a slowdown from the 3.2% growth in 2023.

Insight from Harriet Tory: WSJ economics correspondent Harriet Tory explains that consumer spending was the primary driver of economic growth in 2024. “[Consumers] were really the driving force of economic growth in 2024. They really performed very strongly” (03:08). Factors contributing to this robust consumer activity included low unemployment rates, wage growth, and easing inflation. However, Tory also highlighted rising core inflation in the fourth quarter as a concern for the Federal Reserve.

3. Social Trends: 'No Buy 2025'

Shifting focus to consumer behavior, the podcast discusses the emerging "No Buy 2025" trend, where individuals are encouraged to minimize purchases.

Annemarie Alcantara’s Analysis: Annemarie Alcantara from the WSJ’s Internet culture coverage attributes this trend to persistent inflation, accumulated personal debts, and overspending during the holiday season. “[Inflation] has been top of mind for so many consumers,” she explains, emphasizing the impact of fluctuating prices and financial strain on purchasing decisions (05:06).

4. Market Updates: Stock Indices and ECB Rate Cuts

The financial markets saw a positive close for the major U.S. stock indices, with the Nasdaq up by 0.25%, the Dow Jones by 0.4%, and the S&P 500 by 0.5%. Conversely, American Airlines experienced a 2.5% decline in shares following the plane crash.

European Central Bank Moves: In Europe, the European Central Bank (ECB) reduced interest rates by a quarter point, signaling potential further cuts to stimulate the stagnant eurozone economy. This decision comes amid economic stagnation and concerns over exposure to U.S. trade tariffs (06:44).

5. US Office Real Estate Market Rebound

After a prolonged downturn, there are signs of recovery in the U.S. office real estate market. Investor interest is resurging, drawn by historically low property prices.

Reporter Peter Grant’s Insights: Peter Grant notes, “there are bargains to be had” as investors seize opportunities to purchase undervalued office buildings (07:37). Strategies include converting empty office spaces into residential apartments and targeting buildings in prime locations with high demand. However, challenges persist with record vacancies and cautious participation from major institutions like pension funds.

6. Political Nominees' Confirmation Hearings

The episode covers the contentious confirmation hearings of three of President Trump’s nominees:

• Robert F. Kennedy Jr. for Health Secretary: Faced skepticism from senators regarding his qualifications and policy stances.

• Tulsi Gabbard for Director of National Intelligence: Disappointed both Democrats and Republicans by not denouncing Edward Snowden as a traitor, though she retained some support from GOP lawmakers.

• Kash Patel for FBI Director: Democrats questioned his independence from Trump, but no significant issues were uncovered, and Republicans largely supported his nomination (10:02).

7. Tech Sector: Apple's iPhone Sales and Intel's Slump

Apple’s Performance: Apple reported a decline in iPhone sales for the December quarter, indicating that its new artificial intelligence (AI) initiatives have yet to drive significant growth. Total revenue reached $124.3 billion, a 4% increase year-over-year, yet sales in China fell by over 11%, missing analyst expectations.

Intel’s Struggles: Similarly, chipmaker Intel reported a 7% drop in fourth-quarter sales to $14.3 billion and a net loss of $126 million, although these figures were slightly better than analysts projected (10:02).

8. Scientific Breakthrough: Organic Matter on Asteroid Bennu

In a groundbreaking discovery, planetary scientists identified organic matter essential to life in a sample from asteroid Bennu. This finding supports the hypothesis that such asteroids could have seeded life on Earth and potentially other celestial bodies.

Expert Commentary by Eric Kneeler: Eric Kneeler highlights the significance, stating, “This asteroid contained the building blocks of life that have never, ever seen before on any other asteroid or meteorite” (12:01). The research raises intriguing questions about why life did not develop on Bennu itself and whether similar conditions exist elsewhere in the solar system.

Conclusion

The episode of WSJ’s "What’s News" encapsulates a broad spectrum of pressing issues, from political controversies and economic trends to significant scientific discoveries. With insightful analyses and expert commentary, listeners are provided with a comprehensive overview of current events shaping the world.

Notable Quotes:

• President Trump on FAA Standards: “Because I have common sense, okay? And unfortunately, a lot of people don't.” (02:11)

• Harriet Tory on Economic Growth: “[Consumers] were really the driving force of economic growth in 2024. They really performed very strongly.” (03:08)

• Peter Grant on Office Market: “There are bargains to be had.” (07:37)

• Eric Kneeler on Asteroid Bennu: “This asteroid contained the building blocks of life that have never, ever seen before on any other asteroid or meteorite.” (12:01)

For those interested in the latest developments and in-depth analyses, tuning into WSJ’s "What’s News" provides a valuable resource for staying informed.