Thankfully there are major websites like ZeroHedge, the FinTwit and Telegram crowds, and of some of us old timers who still try to remind everyone that the media is full of it.
And now, just like the not so distant past, they are spraying it like a John Deere during planting season I might remind everyone.
To see just how badly the media, be it the “mainstream” or fake financial news has evolved, let’s all rewind to the good old days of 2008 and a Harper’s magazine from May of 2008 that this author still owns:
Could that same headline be used again today?
In 2008 there were two underlying forces within the mainstream and financial media at work together. First, they despised the Bush administration so posting and publishing negative news stories was not only encouraged, but fictionalized accounts were acceptable because well, he’s George W. Bush. Secondly, the facts were unalterable. Many of us on the ground witnessed the carnage of years of Federal Reserve incompetence and US government corruption which created the crash.
But let’s take an excerpt from Kevin Phillips’ excellent article from that era and see which portions are still applicable today.
Almost four decades have passed since the United States scrapped its last currency ties to precious metals. Our copper and nickel coinage still retains some metallic value, but not nearly enough for the purpose of currency tampering—the historic temptation of inflation-plagued or otherwise wayward governments, including, at times, our own. Instead, since the 1960s, Washington has been forced to gull its citizens and creditors by debasing official statistics: the vital instruments with which the vigor and muscle of the American economy are measured. The effect, over the past twenty-five years, has been to create a false sense of economic achievement and rectitude, allowing us to maintain artificially low interest rates, massive government borrowing, and a dangerous reliance on mortgage and financial debt even as real economic growth has been slower than claimed. If Washington’s harping on weapons of mass destruction was essential to buoy public support for the invasion of Iraq, the use of deceptive statistics has played its own vital role in convincing many Americans that the U.S. economy is stronger, fairer, more productive, more dominant, and richer with opportunity than it actually is.
Emphasis and color is my own, of course. But in reality has anything in those statements above changed? Nope.
Mr. Phillips concluding sentence should serve as a warning from then to be echoed now:
The credit markets are fearful, and the financial markets are nervous. If gloom continues, our humbugged nation may truly regret losing sight of history, risk, and common sense.
Gee, I wonder if anything from this article still applies today? After Bush the Obama administration further distorted the economic data with a “new and improved” GDP calculation with items buried within it after 2013 that would make any sane economist laugh and or cry. Yet the media just celebrated his Holiness Obama and Saint Bernanke’s handling of the economy and told us to party on.
Now let’s review some of the surreal headlines and stories initiated to protect the Biden regime and promote happy feelings as we are told to enjoy our Cockroach Quesadilla new from Taco Bell (ok, coming soon via the WEF):
It started with garbage like that. It got worse as the inflation situation started to smell a lot like Jimmy Carter’s era:
I’m sure that eating a that candle heated can of cat food will comfort the average retiree.
Unemployment and cutting calories down to 1200 per day will save you a lot of money. Better stash some Tobasco for those MRE’s because Michelle isn’t inviting you over for supper.
Good times those 2008 days were, yeah buddy. At least I was younger and not as mean as I am now.
Then of course the Fed propaganda corps is a sight to behold also:
They had best learn Spanish first. So they can find work in the oilfields of Mexico or WalMart in America.
I swear Bullard must ingest some damned good chemicals to alter his mind like that.
Lastly my favorite story:
Wait, what, what, what?
You mean that President Senile Joe Biden lied about a firm deal?
Which means that just like those terrible facts that destroyed the GOP and George W. Bush in 2008 are about to rear their ugly head right after the mid-term election. If anyone thinks that we are about to see peace or prosperity in our time, they need to have their head examined.
Hunker down, ignore the liars, and prepare for the worst possible outcomes, up to and including global thermonuclear war.
And no, I’m not typing that for clicks, the reality is that World War III is a lot closer than the senile guy and our nation’s media is willing to tell the average citizen.