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Thursday, September 1, 2011

9/11, Finance Media & misconceptions

We wanted to continue on a theme that A&G has been focusing on (and most others ignore)... how financial media cover or rather, ignore human tragedy.

Its important to shine a light on this because most people still can not understand why the economy is so terrible and why little to nothing is done.  Many think its a political problem-  Dems are clueless or Reps are heartless, etc..  The global economy is being systematically destroyed by global finance itself; Specifically the Investor and all the governments of the world who cater to them like Kings & Queens.  And as repeated often enough here, you need to understand the behavioral pathology of the Investor-- nonviolent sociopaths with no connection to anyone or anything but making money.

Over the weekend we posted about how Hurricane Irene was covered by CNBC; how human life and property loss was irrelevant to them vs how markets would react, etc.   And we reminded people in the posting how heartless and emotionally detached the financial media was from the Japan tsunami.  The posting ended with the assumption that the financial media would treat another 9/11 (god forbid) the exact same way.

Well..  This is what 'TheStreet' was wondering today..


Could the U.S. Economy Withstand Another 9/11?

The article is mostly dry finance and not very interesting in that regard, though if you are curious, the link is below:

http://finance.yahoo.com/news/Could-the-US-Economy-tsmf-1064993169.html;_ylt=AhPnAfHoBdb1LPlxs7us9ca7YWsA;_ylu=X3oDMTFhbm85NGsxBHBvcwM1BHNlYwNzcGVjaWFsRmVhdHVyZXMEc2xrA2NvdWxkdGhldXNlYw--?x=0

The annoying thing though, is the article is also very jingoistic and overly patriotic, distorting some truths in the process (like pretty much all media when covering this event)

Example:  "(Bin Laden) took credit for taking the superpower status from the Soviet Union. If his surprise and savage assault on America went according to plan, the cascading events would take the superpower out of the U.S."

This is false.  Superpowers do not owe over $14.6 Trillion in debts and liabilities.  Superpowers have economies that can stand on their own two feet without internal meddling and transfers of wealth from its populace to its financial center and the well-do-do.  Superpowers don't normally spread themselves out militarily into 6 nations at one time including a war in Afghanistan reaching its 10th anniversary later this year. Superpowers also do not have 1 in 7 of its populace on food stamps (over 40million people) and about 1 in 6 on Medicaid (over 50 million people). Superpowers don't have true unemployment consistently over 17%...

Example #2:  "On 9/11, American freedom was again under assault..."

No.  Our freedoms were never under assault.  In fact, Americans lost more personal freedoms and liberties via the Patriot Act than anything that the enemy sought.  What was under assault was our continual meddling in the political & economic inter workings of other nations.

If heaven-forbid another 9/11 occurred, more innocent human lives would be taken and deep grieving & sadness would occur for countless millions... all of which CNBC, Bloomberg and such would completely Ignore.  And Obama, just like Bush would tell everyone to go back to shopping and spending ("If you don't buy that car or take that trip to Hawaii, you're letting the terrorists win")... And industries affected would get bailed out with taxpayer dollars (In 2001 Bush bailed the airline industry to the tune of $10billion, which seems small-potatoes now)... And there'd never be any real public discussion or understanding of "why".  Then again, its a discussion most don't wish to partake in.

Some people choose to keep constant vigil on enemies from afar. We respect that & agree that there are those who wish to do harm to the nation.  Personally, we prefer keeping constant vigil on enemies from within, and many sure seem to ply their trade in the world of finance.