Best of the Week
Most Popular
1.The Gallery of Crowd Behavior: Goodbye Stock Market All Time Highs - Doug_Wakefieldth
2.Tesco Meltdown Debt Default Risk Could Trigger a Financial Crisis in Early 2015 - Nadeem_Walayat
3.The Trend Every Nation on Earth Is Pouring Money Into - Keith Fitz-Gerald
4.Do Tumbling Buybacks Signal Another Stock Market Crash? - 26Mike_Whitney
5.Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk - Nadeem_Walayat
6.Gold And Silver Price - Respect The Trend But Prepare For A Reversal - Michael_Noonan
7.U.S. Economy Faltering Momentum, Debt and Asset Bubbles - Lacy Hunt
8.Bullish Silver Stealth Buying - Zeal_LLC
9.Euro, USD, Gold and Stocks According to Chartology - Rambus_Chartology
10.Evidence of Another Even More Sweeping U.S. Housing Market Bust Already Starting to Appear - EWI
Last 5 days
Stocks Bear Market Crash Towards New All Time Highs as QE3 End Awaits QE4 Start - 31st Oct 14
US Mortgages, Risky Bisiness "Easy Money" - 30th Oct 14
Gold, Silver and Currency Wars - 30th Oct 14
How to Recognize a Stock Market “Bear Raid” on Wall Street - 30th Oct 14
U.S. Midterm Elections: Would a Republican Win Be Bullish for the Stock Market? - 30th Oct 14
Stock Market S&P Index MAP Wave Analysis Forecast - 30th Oct 14
Gold Price Declines Once Again As Expected - 30th Oct 14
Depression and the Economy of a Country - 30th Oct 14
Fed Ends QE? Greenspan Says Gold “Measurably” “Higher” In 5 Years - 30th Oct 14
Apocalypse Now Or Nirvana Next Week? - 30th Oct 14
Understanding Gold's Massive Impact on Fed Maneuvering - 30th Oct 14
Europe: Building a Banking Union - 30th Oct 14
The Colder War: How the Global Energy Trade Slipped From America's Grasp - 30th Oct 14
Don't Get Ruined by These 10 Popular Investment Myths (Part VIII) - 29th Oct 14
Flock of Black Swans Points to Imminent Stock Market Crash - 29th Oct 14
Bank of America's Mortgage Headaches - 29th Oct 14
Risk Management - Why I Run “Ultimate Trailing Stops” on All My Investments - 29th Oct 14
As the Eurozone Economy Stalls, China Cuts the Red Tape - 29th Oct 14
Stock Market Bubble Goes Pop - 29th Oct 14
Gold's Obituary - 29th Oct 14
A Medical Breakthrough Creating Stock Profits - 29th Oct 14
Greenspan: Gold Price Will Rise - 29th Oct 14
The Most Important Stock Market Chart on the Planet - 29th Oct 14
Mysterious Death od CEO Who Went Against the Petrodollar - 29th Oct 14
Hillary Clinton Could Be One of the Best U.S. Presidents Ever - 29th Oct 14
The Worst Advice Wall Street Ever Gave - 29th Oct 14
Bitcoin Price Narrow Range, Might Not Be for Long - 29th Oct 14
UKIP South Yorkshire PCC Election Win is Just Not Going to Happen - 29th Oct 14
Evidence of New U.S. Housing Market Real Estate Bust Starting to Appear - 28th Oct 14
Principle, Rigor and Execution Matter in U.S. Foreign Policy - 28th Oct 14
This Little Piggy Bent The Market - 28th Oct 14
Global Housing Markets - Don’t Buy A Home, You’ll Get Burned! - 28th Oct 14
U.S. Economic Snapshot - Strong Dollar Eating into corporate Profits - 28th Oct 14
Oliver Gross Says Peak Gold Is Here to Stay - 28th Oct 14
The Hedge Fund Rich List Infographic - 28th Oct 14
Does Gold Price Always Respond to Real Interest Rates? - 28th Oct 14
When Will Central Bank Morons Ever Learn? asks Albert Edwards at Societe General - 28th Oct 14
Functional Economics - Getting Your House in Order - 28th Oct 14
Humanity Accelerating to What Exactly? - 27th Oct 14
A Scary Story for Emerging Markets - 27th Oct 14
Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk - 27th Oct 14
Europe Redefines Bank Stress Tests - 27th Oct 14
Stock Market Intermediate Correction Underway - 27th Oct 14
Why Do Banks Want Our Deposits? Hint: It’s Not to Make Loans - 26th Oct 14
Obamacare Is Not a Revolution, It Is Mere Evolution - 26th Oct 14
Do Tumbling Buybacks Signal Another Stock Market Crash? - 26th Oct 14
Has the FTSE Stock Market Index Put in a Major Top? - 26th Oct 14
Christmas In October – Desperate Measures - 26th Oct 14
Stock Market Primary IV Continues - 26th Oct 14
Gold And Silver Price - Respect The Trend But Prepare For A Reversal - 25th Oct 14
Ebola Has Nothing To Do With The Stock Market - 25th Oct 14
The Gallery of Crowd Behavior: Goodbye Stock Market All Time Highs - 25th Oct 14
Japanese Style Deflation Coming? Where? Fed Falling Behind the Curve? Which Way? - 25th Oct 14
Gold Price Rebounds but Gold Miners Struggle - 25th Oct 14
Stock Market Buy the Dip or Sell the Rally - 25th Oct 14
Get Ready for “Stupid Cheap” Stock Prices - 25th Oct 14
The Trend Every Nation on Earth Is Pouring Money Into - 25th Oct 14 - Keith Fitz-Gerald
Bitcoin Price Decline Stopped, Possibly Temporarily - 25th Oct 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Stocks Epic Bear Market

At Years End: Look Back At The News of 2012

Politics / Mainstream Media Dec 30, 2012 - 10:19 AM GMT

By: Danny_Schechter

Politics

New York, New York: The TV Networks are hard at work in this last week of the year recapping their best footage to remind us where we’ve been.  Researchers are combing the archives to find the best images for their annual greatest hits “package” which usually ends with a photo-montage driven by music of the politicians, entertainers and personalities who died in 2012.


As we watch, we ooh and ah and remember calamities that struck us like that well-named “Franken (for that movie monster Frankenstein) Storm” Sandy and the shooting of the children at Sandy Hook in Connecticut. They will replay the 2012 presidential elections that bring us to the stalemate we are stuck in,  what’s been labeled the “fiscal cliff.”

Oh, you know what else they will show---the year of I-Phone 5 and I-Pad 3, the Olympics, and Gangham Style. We will hear about Kate Middleton ‘s rise and Whitney Houston’s demise and the ups and downs of the Chinese-American basketball player Jeremy Lin.

When it comes to the world, there will be a reference to the war on Iran that wasn’t, and the war that is ripping Syria apart. We may hear about China’s new leader, the mess in Mexico and Hugo Chavez’s electoral victory and battle with cancer. The deaths in Gaza will be omitted.

There is unlikely to be any mention of the stories chosen by the Miami Herald’s Andreas Oppenheimer who reminds us of a July 16 news report from Kuala Lumpur that negotiations for the completion of the Trans-Pacific Partnership trade agreement, which could become the world’s biggest and most ambitious deal of its kind, could be concluded by October 2013.” What are its implications? Who stands to benefit? Who will lose? That’s not even in the news yet.

Or, “The Nov. 25 vote in Catalonia, Spain, in which about 70 percent of the people voted for parties that support a referendum for independence of the rich northern Spain region, triggering a chain reaction of secessionist moves in the 27-country European Union. Many fear that if Catalonia secedes from Spain, Corcica and the Basque region may seek independence from France, Scotland may split from Britain and Flanders and Wallonia from Belgium, among others. Economic turmoil could be followed by political chaos in Europe.”

All of this was so awful that many us almost looked forward to those Mayan prophecies of the world ending.

Those of us who hoped the Obama reelection might usher in a little more justice and equality remain disappointed. Those of us who longed for a change we could believe in then took to the streets to try to create it,  only to confront the power of the police state---the NYPD, FBI et. al. Only now, with the disclosure of new documents, do we have a hint of how we were spied upon and lied to.

All of our “news” deals with specific stories and events---not trends and less visible forces that drive our economy and political system.  We hear about issues, not interests. The newscasts lack context, background, analysis and interpretation. They are there to dumb us down, not smarten us up.

What the big banks do and don’t do are treated in terms only of discrete deals, not their role as channels of the influence of the one percent. It’s not news when regulators don’t regulate or when industries “capture” the officials meant to restrain them.

Guns in America are in the news, but not our vast armament industry that sells weapons including new drone systems, worldwide. Our country is  always pictured domestically as “the homeland,” a phrase used first in Germany in the 1930’s and in South Africa decades later. We see ourselves a nation while much of the world sees us as an empire.

As for the economy, all the talk of tax and trade policies soar over most  people’s heads as the business publication Wealth Daily reports in warning that major pay cuts are coming:

“Now that the very basic taxation and revenue proposals are converging in the fiscal cliff talks, politicians are fielding some entitlement program revisions….
The changes are seemingly minute. On paper, we're just going to have an even exchange between obscure equations that are basically similar.

But that's the whole point: If the general public can't understand it, they don't pay attention to it. If they don't pay attention to it, they won't punish politicians for it.”

The odds are that that the Libor conspiracy that manipulated trillions will be overlooked. Too hard to explain in ten seconds!

Increasingly, the most important underlying issues are found in the movies, in fiction, not “faction,” and certainly not on TV News.

In theaters now, we have a choice between two views of the impact of slavery in America: Spielberg’s Lincoln and Tarrantino’s Django Unchained. One focuses on corrupting the Congress to outlaw slavery and the other on the brutality of slavery on the slaves. The former traces a top-down reform as a mater of Constitutional theory, the latter, shows a bottom-up armed revolt against ugly racism.

The movie version of the musical, Les Miserables, tells the story of the failed French Revolution in song, its barricades, not its values. Argo, meanwhile,  briefly cites the reasons for the Iranian revolution but then celebrates the role of the CIA in rescuing Americans from it while reinforcing American hostility.

The film Zero Dark Thirty shows how the CIA tortures far more graphically than TV News ever did, but, then, it turns a pretty CIA analyst obsessed, not with capturing bin Laden but killing him, into a hero.

The movie doesn’t have the guts to condemn state supported death squads and torture explicitly, and may even got the story wrong because what they call  “enhanced interrogation” was not the critical element in finding him according to the CIA itself, US Senators and many experts. One interesting casting choice was to have the actor who played Tony Soprano, the mafia boss, on TV, to portray Pentagon chief Leon Panetta.

This holiday season is not a very cheery time in America what with a political stalemate in Washington, parents mourning the deaths of young children slaughtered in their classrooms, storms savaging the Mid West and East, and the certainty of a  less than rosy future awaiting us in the next year where the only option seems to be  more austerity at home, more foreign intervention in wars abroad, and talk of a new global recession.

If there is a “zeitgeist, it’s not one of optimism. This is an angry and deeply polarized country in a world that seems to be imploding.

News Dissector Danny Schechters film and book Disinformation. For more information, Http://www.plunderhecrimeofourtime.com.

News Dissector Danny Schechter has made a film and written a book on the “Crime Of Our Time.” (News Dissector.com/plunder.) Comments to dissector@mediachannel.org

© 2012 Copyright Danny Schechter - 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.


© 2005-2014 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

Free Report - Financial Markets 2014