In 2008, if you had said there would be a Housing Collapse, you would have been marked as "fake news", being in contradiction with the MSM, which claimed that the housing/banking collapse "was contained".
You would have been correct -- but still would have been called Fake News at the time.
Ditto for many other situations in recent memory, including when Obamacare was still being discussed. If you had claimed you wouldn't get to keep your doctor, or that it would have been too expensive, etc. you would have been dismissed -- and absolutely correct!
Or in 2001, if you had said there WERE NO WEAPONS OF MASS DESTRUCTION IN IRAQ, you would have been brushed off as Fake News -- but you'd have been correct!
More often than not, it's the Mainstream Media that's the purveyor of Fake News.