There’s a Reason…
… that people hate the News Media and the politicians they prop up for us to throw eggs at. If you dig back a little ways into the 1980’s, you will find that newspapers have been steadily losing readers since the Regan era. The common wisdom to this point has been to blame this loss of patronage on the easy access of free news coverage due to the advent of 24/7 cable news networks and the internet. However, as the various news services continue to lose readers and viewers, I can say with absolute confidence that for this individual consumer, there is a far more logical and obvious reason…
THE NEWS COVERAGE SUCKS!
I’m sure there are people who will say that my opinion is probably due to my personality. Admittedly, they have a point in that I am a natural-born cynic and skeptic. While that has interesting implications for my religious afiliations, that is also a different story for a different time. I have been paying special attention to the news coverage and what they have been saying as we have seen the transition from Bush II to the reign of Maximus Obamacus, and I have several real problems with the journalism industry that I think will go a long way to explain why they are going under so quickly. So here, for your reading pleasure, is the Media FAIL List:
“The Credit Crisis”
One year ago (as of this month), the otherwise prestigious bank Lehman Brothers filed for Chapter 11 bankruptcy protection… thus marking the official start of what comedian and radio host Peter Segel called “The Great Credit Cluster-Bleep”. So let’s examine, shall we?
FAIL #1: Since when???
In September of 2008, the public became aware of a financial tool called “Sub-Prime Mortgages”. In the rather violent upheaval that followed as Lehman Brothers was quickly followed in the “Walk of Shame” by Fannie Mae, Freddy Mac, Indy Mac, Bank of America, and Washington Mutual, every journalist worth their weight in pencils was calling the credit market “The Greatest Disaster since the Great Depression!” Now, I will admit to not being the most prolific expert on American History… but unless my mind has fled me utterly, The Great Depression lasted the better part of a decade, was made WORSE by then-president FDR and his Cluster-Bleep“New Deal” plan, and was ended by the entry of the United States into World War II. Considering that the “dot com” bubble took four years for the economy to recover, I fail to see how the credit crisis counts as the “worst crisis since the Great Depression”. Why? Because just one week ago on Yahoo News, I see an entire article about how Ben Bernanke is declaring the recession over. The same dude who was fanning the “Great Depression” flames under Bush is declaring everything back to normal a mere nine months later. Suffice it to say: “FAIL!”
FAIL #2: Who do we lynch?
The journalists who have been all fiery about how we were destined for another Great Depression, have wasted no time in laying the blame as thick as they can on George Bush and the Republicans. First, financial crises do not happen overnight. It isn’t like one of the Brothers Lehman woke up on September 10th, 2008 and said, “My GOD! We’re $6 billion in the hole!” Financial crises (with the exception of the emergence of new industries like the dot-coms) take years to reach critical mass. Secondly, everybody was losing their collective shirts in the sub-prime market… so where did the sub-primes come from? Oh yeah… the 1990’s. Bill Clinton, in an attempt to be everyone’s favorite Ark-insanian, pressed congress to mandate that mortgage lenders start giving more loans out to the poorer people of America, with a specific focus on the minority population, thus creating the Sub-Prime Mortgage market. Mental Note #1: not every bank manager in America is a racist. Mental Note #2: if poor people aren’t getting approved for a loan, it is most likely because they can’t afford to make the payments, or they have a history of not making their payments. Probably a bad idea, right? Right! Lastly, there are so many other things that you could pick on the GOP for, try blaming them for something they actually did (like not making the ’04 tax cuts permanent). In the run up to August 2008 there were a number of Republican politicians (including Bush the Hated) who actually warned about the potential disaster inherent in the Sub-Prime market… and the newspapers said those Republicans just hated poor people. Once again: “FAIL”
FAIL #3: The world needs a hero!
Just over nine months from our President taking office, Washington politicians are doing a great deal of back-slapping, blame shifting, and celebrating over Barack Obama’s “masterful” handling of the economy to bring the recession to a close. Forgive me, but what did he do, again? Oh yeah… he made the Government buy out the majority of the American auto industry, chop it up into smaller bits, and re-organize it to give the UAW even more power in it’s respective companies. So let me see if I get this right… in order to save the car manufacturers, we are going to give the reins of power to a giant union that (A) can shut down the entire auto industry anyway if they have a problem with management and (B) has already been running the industry into the ground for the last 20 years? AND THAT IS A MASTERFUL HANDLING OF THE ECONOMY?!?! Although…… it is arguable that the UAW’s mishandling of their affairs makes them the perfect candidate for Government work. o.O
And yet, the very same media gurus that slammed the idea of more bailouts run around crediting Barack Obama for saving the United States from a fate worse than death (better known as “a rough patch”). Contrary to those in the far-left media who are also declaring the American Experiment of free enterprise is dead, I would say that the American Experiment has merely changed expressions. Since we have a bad taste in our mouths of what hapens when the Government interferes with the free market (like the creation of the Sub-prime mortgage market), our leaders have decided to simply do away with the mucking about in the free market bit and go straight to Government interference. So now we get to see if American Socialism can do it any better… and the reporters are smiling the whole way.
Is it really any wonder why the mostly Traditionalist American public is unsubscribing from the newspapers faster than a Ferrari Enzo in Monte Carlo?