Corporate business media in denial about double dip
Shadowstats' John Williams Exposes The Media's Propaganda Spin, Or Why Watching CNBC Can Be Hazardous To Your Wealth
In his latest letter to subscribers, Shadowstats' John Williams dissects recent economic data, and after providing yet more evidence that after the recent period of "bottom-bouncing at a low-level plateau of business activity" the economy has once again entered a double dip. Overall, it has cost the US taxpayers several trillion in debt (which will never be repaid), and a major hit to the value of the paper in their wallets, just to play the game of extend and pretend for a just under 18 months. The positive effects of the sugar high are now gone, leaving just the negative, one of which is the propaganda spin engulfing the entire legacy media complex whose survival depends on the ongoing perpetuation of the Ponzi lie that all is well. And courtesy of Mr. Williams we have prima facie evidence of precisely why formerly reputable channels such as CNBC are in the process destroying their credibility and causing an exodus of viewers, with the few remaining viewers remaining primarily for the opportunity to heckle the openly lying talking heads.
So pundits on corporate business media are being told "I was advised off-air by the producer that they were operating under a corporate mandate to give the economic news a positive spin, irrespective of how bad it was." The Daily Show did a great job of pointing out the corporate bias to lie about how well the economy was going while it was going down the drain...
...the corporate news media are drug pushers trying to sell a fix they know is bad for you.
Neo-liberal Milton Friedman freemarket dogma has crashed the global economy, we need to start thinking Keynesian managed capitalism and force the IMF and World Bank to burn their Ayn Rand book collection and focus on developmental rather than deregulation theocracy.