A dollar saved is 97 cents earned*

The Media’s Fly-like Memory

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Great quote from Eric at iTulip

Ten years from now, when the full impact of the U.S. asset bubbles of 1998 to 2008 are fully felt, the dot com era, when money flowed like oil from a geyser, before the wars and financial crisis, will be remembered as the good old says, the high water mark for American power and influence.

As American living standards decline for broad swaths of the population, first by underemployment and unemployment, then by inflation, the thread of cause and effect will be lost by a media that’s forced by its consumers to report daily events without context, as if the latest crisis fell out of the sky, from the clouds.

Nobody saw this coming*

* except those who profited from creating the bubble & are profiting once more from it popping 😉

But the media does give us what we want: 😉

The recent performance of the U.S. political system at the relatively simple task of getting more health care to Americans at a lower cost does not encourage optimism. A debate about the value of reducing the 40% health care cost overhead created by health insurance companies was turned seemingly overnight by the health insurance industry’s media into an free-for-all about death panels and socialism. Now imagine how swiftly a discussion about needed cuts in military spending to help bring the budget deficit in line will be turned by the military industrial complex into a media circus about aiding terrorists, replete with images of nuclear weapons going off on American soil.

Written by admin

June 19th, 2010 at 4:53 am

Posted in bubbles

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