Best of the Week
Most Popular
1.The Greatest Stock Market Crash Of Your Life Is Just Ahead… – Warns Harry Dent - GoldCore
2.Budget 2016: Borrowing, Lifetime ISA, House Prices, Economy, Syria, Brexit and Stocks - Nadeem_Walayat
3.Gold Price Intermediate Top - Clive_Maund
4.Brussels Terror Attacks, Death of the European Union, BrExit Wake up Call - Nadeem_Walayat
5.Stock Market Maybe This Time is Different? - Tony_Caldaro
6.UK House Asking Prices Break Above £300k! Housing Market Paralysis - Nadeem_Walayat
7.A Big Reason Why Silver Price Is Set To Soar - Hubert_Moolman
8.The Financial Crisis Has Just Begun; Is The American Dream Is Over? - Chris_Vermeulen
9.Gold Stocks Spring Rally - Zeal_LLC
10.GLX, GLDX, Baby Gold Bull Market Stillborn? - Rambus_Chartology
Last 7 days
When the Truth is Found to be Lies, Confidence in Currency Dies - 2nd May 16
How Brexit Could Help All of Europe - 2nd May 16
US House Prices Outpacing Official Inflation Rate, Household Income - 2nd May 16
USD Still Declining... - 2nd May 16
Gold & Silver Rally Huge as Central Bankers & Analysts Flub - 2nd May 16
Stock Market Bounce Day - 2nd May 16
Stock Market Uncertainty Following Two-Month Long Rally - Will It Continue? - 2nd May 16
Stock Market Correction Underway "Upside Objective Reached" - 2nd May 16
USD, Yen and an ‘Inflation Trade’ Update - 2nd May 16
Gold Commitments of Traders and More - 1st May 16
The Magic of Gold Ratio Charts - 1st May 16
Consensus Forming: China Heading Back Into Financial Crisis - 30th Apr 16
The Next Technical Price Targets for Gold & Silver - 30th Apr 16
Stock Market Downtrend Should be Underway - 30th Apr 16
Gold And Silver – A Clarion Alarm Call For All Paper Assets - 30th Apr 16
US Economic Statistics LIES, LIES AND OMG, MORE LIES - 30th Apr 16
Stock Market Strong Elliott Wave Relationship is Developing - 29th Apr 16
Fed's Kaplan: Brexit to Factor in US June Interest Rate Decision - 29th Apr 16
Silver Miners Strong in Grim Q4 - 29th Apr 16
Is Silver a better bet than Gold in the Near Future? - 29th Apr 16
How to Use the CoT Report in Gold Investing? - 29th Apr 16
Sri Lanka is Intriguing: Areas to Consider for Value Investing - 29th Apr 16
Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards - 29th Apr 16
Are We or Are We Not in a New Gold Bull Market? - 29th Apr 16
Silver: The “Five Year Plan” and the Great Leap Forward - 28th Apr 16
Michael Hudson: The Wall Street Economy Has Taken Over The Economy and Is Draining It! - 28th Apr 16
AUD/USD - Trend Reversal or Just a Bigger Pullback? - 28th Apr 16
A Gold Revaluation Could Transform Your Financial Status - Overnight - 28th Apr 16
Monetary Policies Misunderstood - 28th Apr 16
Gold Bullion vs Gold Miners - 28th Apr 16
OECD Suggests BrExit Would Cut Net Migration by 1.2 Million by 2030 - 28th Apr 16
MP Naz Shah Punished for Tweets Made During Israel's Genocide of Gaza Palestinian People - 28th Apr 16
Global Recession in 2016 and Beyond - The Obvious Evidence - 27th Apr 16
Why Gold Bugs Need to Stop Listening to The Fear Mongers and Start Thinking for a Change - 27th Apr 16
BlackRock’s Fink: Fed to Raise Interest Rates by Quarter Point ‘at Best’ - 27th Apr 16
Gold More Productive Than Cash?! - 27th Apr 16
Donald Trump Will Fire Janet Yellen and Be Trapped - 27th Apr 16
Money Saving Gardening by Propagating Roses From Cuttings - Propagating Rose Plants Over 2.5 Years - 27th Apr 16
Facebook Censors Pro Trump and Negative Hillary News - 27th Apr 16
This is the Era of the Democrats and Your Taxes are Going Up - 27th Apr 16
Long Awaited Gold Price Breakout - 26th Apr 16
Crude Oil Price Double Top or Further Rally? - 26th Apr 16
Madness in the Crimex Gold and Silver Trading Pits - 26th Apr 16
Britain's Prospects: GBP and BREXIT - MAP Wave Analysis - 26th Apr 16
CRB, Gold, Oil, Cotton, Coffee - 7 Must See Commodities Charts - 26th Apr 16

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Catching a Falling Financial Knife

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.


© 2005-2016 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

Catching a Falling Financial Knife