Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Tory Seats Forecast 2019 General Election Based on UK House Prices Momentum Analysis - 9th Dec 19
Top Tory Marginal Seats at Risk of Loss to Labour and Lib Dems - Election 2019 - 9th Dec 19
UK House Prices Momentum Tory Seats Forecast General Election 2019 - 8th Dec 19
Why Labour is Set to Lose Sheffield Seats at General Election 2019 - 8th Dec 19
Gold and Silver Opportunity Here Is As Good As It Gets - 8th Dec 19
High Yield Bond and Transports Signal Gold Buy Signal - 8th Dec 19
Gold & Silver Stocks Belie CoT Caution - 8th Dec 19
Will Labour Government Spending Bankrupt Britain? UK Debt and Deficits - 7th Dec 19
Lib Dem Fake Tory Election Leaflets - Sheffield Hallam General Election 2019 - 7th Dec 19
You Should Be Buying Gold Stocks Now - 6th Dec 19
The End of Apple Has Begun - 6th Dec 19
How Much Crude Oil Do You Unknowingly Eat? - 6th Dec 19
Labour vs Tory Manifesto Voter Bribes Impact on UK General Election Forecast - 6th Dec 19
Gold Price Forecast – Has the Recovery Finished? - 6th Dec 19
Precious Metals Ratio Charts - 6th Dec 19
Climate Emergency vs Labour Tree Felling Councils Reality - Sheffield General Election 2019 - 6th Dec 19
What Fake UK Unemployment Statistics Predict for General Election Result 2019 - 6th Dec 19
What UK CPI, RPI and REAL INFLATION Predict for General Election Result 2019 - 5th Dec 19
Supply Crunch Coming as Silver Miners Scale Back - 5th Dec 19
Gold Will Not Surpass Its 1980 Peak - 5th Dec 19
UK House Prices Most Accurate Predictor of UK General Elections - 2019 - 5th Dec 19
7 Year Cycles Can Be Powerful And Gold Just Started One - 5th Dec 19
Lib Dems Winning Election Leaflets War Against Labour - Sheffield Hallam 2019 - 5th Dec 19
Do you like to venture out? Test yourself and see what we propose for you - 5th Dec 19
Great Ways To Make Money Over Time - 5th Dec 19
Calculating Your Personal Cost If Stock, Bond and House Prices Return To Average - 4th Dec 19
Will Labour Government Plant More Tree's than Council's Like Sheffield Fell? - 4th Dec 19
What the UK Economy GDP Growth Rate Predicts for General Election 2019 - 4th Dec 19
Gold, Silver and Stock Market Big Picture: Seat Belts Tightened - 4th Dec 19
Online Presence: What You Need to Know About What Others Know About You - 4th Dec 19
New Company Tip: How To Turn Prospects into Customers with CRM Tech - 4th Dec 19
About To Relive The 2007 US Housing Market Real Estate Crash Again? - 3rd Dec 19
How Far Will Gold Reach Before the Upcoming Reversal? - 3rd Dec 19
Is The Current Stock Market Rally A True Valuation Rally or Euphoria? - 3rd Dec 19
Why Shale Oil Not Viable at $45WTI Anymore, OPEC Can Dictate Price Again - 3rd Dec 19
Lib Dem Election Dodgy Leaflets - Sheffield Hallam Battle General Election 2019 - 3rd Dec 19
Land Rover Discovery Sport Brake Pads Uneven Wear Dash Warning Message at 2mm Mark - 3rd Dec 19
The Rise and Evolution of Bitcoin - 3rd Dec 19
Virtual games and sport, which has one related to the other - 3rd Dec 19
The Narrative About Gold is Changing Again - 2nd Dec 19
Stock Market Liquidity & Volume Diminish – What Next? - 2nd Dec 19
A Complete Guide To Finding The Best CFD Broker - 2nd Dec 19
See You On The Dark Side Of The Moon - 2nd Dec 19
Will Lib Dems Win Sheffield Hallam From Labour? General Election 2019 - 2nd Dec 19
Stock Market Where Are We?  - 1st Dec 19
Will Labour's Insane Manifesto Spending Plans Bankrupt Britain? - 1st Dec 19
Labour vs Tory Manifesto Debt Fuelled Voter Bribes Impact on UK General Election - 30th Nov 19
Growing Inequality Unrest Threatens Mining Industry - 30th Nov 19
Conspiracy Theories Are Killing This Nation - 30th Nov 19
How to Clip a Budgies / Parakeets Wings, Cut / Trim Bird's Flight Feathers - 30th Nov 19
Hidden Failure of SIFI Banks - 29th Nov 19
Use the “Ferrari Pattern” to Predictably Make 431% with IPOs - 29th Nov 19
Tax-Loss Selling Drives Down Gold and Silver Junior Stock Prices - 29th Nov 19
We Are on the Brink of the Second Great Depression - 29th Nov 19
How to Spot REAL Amazon Black Friday Bargains and Avoid FAKE Sales - 29th Nov 19

Market Oracle FREE Newsletter

UK House prices predicting general election result

Defeat the Debt- the TV ad and the American Right

Politics / US Debt Sep 18, 2009 - 02:01 AM GMT

By: Michael_T_Bucci

Politics

Best Financial Markets Analysis ArticleA TV ad that Mr Benjamin A Shobert describes in disturbing detail in Asia Times this week is part of an overall campaign that includes this national television commercial, which is currently airing on Fox News, CNN, MSNBC, and CNBC. Additionally, full-page ads are running in The New York Times, USA Today, The Washington Times, The Washington Examiner, The San Francisco Chronicle, and The Las Vegas Review-Journal. Mr Shobert rightly deduces that for the US, China is the financial bogeyman.


The ad is a product of Employment Policies Institute (EPI) in Washington, DC. EPI's Executive Director is Richard Berman who, as many know, is a leading Washington industry lobbyist who uses numerous non-profit "front groups" to spearhead media campaigns aimed at defeating public policy initiatives unfriendly to his clients. For example, EPI "opposes increasing the minimum wage and promotes the specious concept that an increased minimum wage would drive the poor and uneducated out of the job market", so states Citizens For Responsibility and Ethics in Washington.

EPI's present TV campaign "Defeat the Debt" postures to "educate the public about the enormous federal deficit", but the defeatthedebt.com web site itself highlights how an inordinate burden of taxation is presently borne by the wealthy (e.g., "In New York City, 1% of taxpayers pay almost 50% of the city’s income taxes."; "The top 1% of American earners pay 40% of all federal income taxes."). Mr. Berman's loyalties might not be to "the public" after all, nor to schoolchildren and their future debt burden - they don't pay him and never will - but to industry and the cadre of American oligarchs most threatened by future tax increases needed to service U.S. debt, and by any radical shift in the global economic order. Both threats presently are on the horizon. This is how and why China fits into the commercial.

Insofar as the Dollar is being roundly challenged as the world's reserve currency and China holds the largest share of U.S. Government issued debt, China, among other U.S. creditors, is presented by Berman's TV ad as a potential threat to America. In the words of defeatthedebt.com, "Major foreign holders of US debt have alot to hold over our heads." Of course they do; that is if China and others intend to hold it over our heads. Assume they intend to hold it over our heads, implies the campaign. Therein, the ad and PR platform become a 2009 adaptation of a "Red Scare" in the traditional style of right-wing Republican media blitzes that successfully blazed in the 30's, the 50's, and are blazing across America today. (Of course, why shouldn't they hold it over our heads?)

Wording in advertising and public relations is a most careful craft. One goal of this three word campaign is to further galvanize and incite growing anti-government, anti-Fed and anti-Obama movements against an additional and outside enemy; in this example with appeals toward protecting children from a menace. But from whom, is the question? The ending graphic that shows CHINA on the world globe, of course, provides the answer and returns us to memories of propaganda directed against our Cold War enemy RUSSIA. The flag and Oath of Allegiance are coded to incite patriotic fervor on the one hand, and anger at those who threaten or defile us on the other (in this case, our current creditors; later, it may be anyone).

It could very well have ended showing a graphic of Goldman Sachs, of the top 100 Corporations that outsourced labor to Asia, of consumer Visa cards, of the Pentagon budget, of the cost in lives and money from military wars in the Middle East, of Rupert Murdoch's multi-billion dollar net worth, of WalMart's Chinese supplied inventory, or a picture of EPI Executive Director Richard Berman's $3.3 million house! But it chose China instead.

Campaigns like this and many others are blatantly synchronized strategic vehicles; at some future time one might say they were "pre-war propaganda" devices in hindsight - should it come to that. Somehow, Americans bear no responsibility for borrowing against their future and their children's, for feeding and enabling the rapacious excesses and deceitful practices on Wall Street, for supporting its militarism throughout the world. And should the U.S. fail to repay its obligations and default like Germany did in the last Century, it can be made the fault of others. This is one seed the ad is planting.

In this three-word campaign, the word "Defeat" is chosen ("Defeat the Debt"), as if "the Debt" were a human enemy. One doesn't defeat the mortgage or defeat a car payment or defeat a credit card balance, but pays it down or pays it off. One defeats an opponent (you are the chosen human opponent, China!). The logic of the ad is straightforward and, in my opinion, very disturbing if not threatening.

The most ominous signal (or indication) within the logic of this ad campaign is that America is preparing now for defensive measures against repercussions from its creditors should it declare insolvency. Without financial strength, and in the words of "Defeat the Debt", while "Major foreign holders of US debt have alot to hold over our heads", will America greet its creditors with war?

All in all, anything is possible. All in all, China is being targeted, if not demonized.

Or perhaps, all in all, this too will pass.

By Michael T Bucci

Michael T Bucci is a retired public relations executive from New Jersey presently residing in New England. His essays have appeared at Market Oracle and Global Research. He is the author of nine books on practical spirituality including White Book: Cerithous .

    © 2009 Copyright Michael T Bucci - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

    Michael T Bucci Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules