Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Chinese Tech Stocks CCP Paranoia, VIES - Variable Interest Entities - 19th Oct 21
Inflation Peaked Again, Right? - 19th Oct 21
Gold Stocks Bouncing Hard - 19th Oct 21
Stock Market New Intermediate Bottom Forming? - 19th Oct 21
Beware, Gold Bulls — That’s the Beginning of the End - 18th Oct 21
Gold Price Flag Suggests A Big Rally May Start Soon - 18th Oct 21
Inflation Or Deflation – End Result Is Still Depression - 18th Oct 21
A.I. Breakthrough Could Disrupt the $11 Trillion Medical Sector - 18th Oct 21
US Economy and Stock Market Addicted to Deficit Spending - 17th Oct 21
The Gold Price And Inflation - 17th Oct 21
Went Long the Crude Oil? Beware of the Headwinds Ahead… - 17th Oct 21
Watch These Next-gen Cloud Computing Stocks - 17th Oct 21
Overclockers UK Custom Built PC 1 YEAR Use Review Verdict - Does it Still Work? - 16th Oct 21
Altonville Mine Tours Maze at Alton Towers Scarefest 2021 - 16th Oct 21
How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
The Only way to Crush Inflation (not stocks) - 14th Oct 21
Why "Losses Are the Norm" in the Stock Market - 14th Oct 21
Sub Species Castle Maze at Alton Towers Scarefest 2021 - 14th Oct 21
Which Wallet is Best for Storing NFTs? - 14th Oct 21
Ailing UK Pound Has Global Effects - 14th Oct 21
How to Get 6 Years Life Out of Your Overclocked PC System, Optimum GPU, CPU and MB Performance - 13th Oct 21
The Demand Shock of 2022 - 12th Oct 21
4 Reasons Why NFTs Could Be The Future - 12th Oct 21
Crimex Silver: Murder Most Foul - 12th Oct 21
Bitcoin Rockets In Preparation For Liftoff To $100,000 - 12th Oct 21
INTEL Tech Stock to the MOON! INTC 2000 vs 2021 Market Bubble WARNING - 11th Oct 21
AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
Stock Market Wall of Worry Meets NFPs - 11th Oct 21
Stock Market Intermediate Correction Continues - 11th Oct 21
China / US Stock Markets Divergence - 10th Oct 21
Can US Save Taiwan From China? Taiwan Strait Naval Battle - PLA vs 7th Fleet War Game Simulation - 10th Oct 21
Gold Price Outlook: The Inflation Chasm Between Europe and the US - 10th Oct 21
US Real Estate ETFs React To Rising Housing Market Mortgage Interest Rates - 10th Oct 21
US China War over Taiwan Simulation 2021, Invasion Forecast - Who Will Win? - 9th Oct 21
When Will the Fed Taper? - 9th Oct 21
Dancing with Ghouls and Ghosts at Alton Towers Scarefest 2021 - 9th Oct 21
Stock Market FOMO Going into Crash Season - 8th Oct 21
Scan Computers - Custom Build PC 6 Months Later, Reliability, Issues, Quality of Tech Support Review - 8th Oct 21
Gold and Silver: Your Financial Main Battle Tanks - 8th Oct 21
How to handle the “Twin Crises” Evergrande and Debt Ceiling Threatening Stocks - 8th Oct 21
Why a Peak in US Home Prices May Be Approaching - 8th Oct 21
Alton Towers Scarefest is BACK! Post Pandemic Frights Begin, What it's Like to Enter Scarefest 2021 - 8th Oct 21
AJ Bell vs II Interactive Investor - Which Platform is Best for Buying US FAANG Stocks UK Investing - 7th Oct 21
Gold: Evergrande Investors' Savior - 7th Oct 21
Here's What Really Sets Interest Rates (Not Central Banks) - 7th Oct 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Raising Questions About Politics and the Mass Media

Politics / Mainstream Media Jan 05, 2017 - 02:49 AM GMT

By: Walter_Brasch

Politics

It’s the first week of January and the election returns are starting to trickle in. It’s not for the rich Democratic white Hillary Clinton who captured the popular vote, nor for the rich Republican white Donald Trump who captured the electoral college and became the next president. This vote came from the campaigns of Clinton and Trump, and the beneficiaries were the TV media in select markets.


The Clinton campaign and the groups supporting her spent about $1.4 billion, most of it for TV ads. The Trump campaign raised about $932 million. The only reason Trump didn’t match Clinton’s total was because he didn’t need to—the TV and social media were so intrigued by his tweets that they gave him more coverage than any other candidate.

Overall, spending for all major races was about $6.9 billion, including $228 million on the Bernie Sanders campaign. About $226.6 million of that total was from individuals, most of that from $27 donations from about seven million individuals. Sanders had rejected contributions of lobbying groups. The highest total for Sanders was a paltry $15,000 from the American Postal Workers Union.

The Federal Election Campaign Act Amendments of 1974, sometimes known as the McCain-Feingold act, placed limits on candidates. In March 2009, the Supreme Court opened up political spending in its ruling in Citizens United v. the General Elections Committee. The Court, in a contentious 5–4 decision, primarily along party lines, declared caps on political restrictions violated the First Amendment. The result of the ruling allowed a significant increase in spending by lobbyists. Democrats saw this as an erosion of fair campaigns; Republicans generally praised the ruling.

If even half the $6.9 billion raised in this year’s campaigns would have been applied elsewhere, it could have supported medical research, aid to wounded military personnel, housing for the homeless, better roads and bridges, and numerous other domestic programs. But the money was spent on a presidential race that pays the victor $400,000, and members of Congress $174,000.

The candidates often blame the media for all kinds of sins, with the conservative candidates calling the media “the liberal, lying media.” But, they use the media to get their word out, saving advertising dollars.

The TV media have been beneficiaries—and this raises an ethical issue. Although there is an invisible wall between the news and business division, just how flimsy is that wall? News Media corporations make contributions; candidates accept the media; the corporations then receive significant income from advertising funds.

More important, how resilient are news directors from not giving significant coverage to following the money because their stations are benefitting?

[Dr. Brasch’s current book is Fracking Pennsylvania, which looks at the impact of fracking upon public health, worker safety, the environment, and agriculture. The book--available at local bookstores and amazon. com--also looks at the financial collusion between politicians and Big Energy.]

By Walter M Brasch PhD
http://www.walterbrasch.com

Copyright 2016 Walter M Brasch
Walter Brasch is a university journalism professor, syndicated columnist, and author of 17 books. His current books are America's Unpatriotic Acts , The Federal Response to Hurricane Katrina , and Sex and the Single Beer Can: Probing the Media and American Culture . All are available through amazon.com, bn.com, or other bookstores. You may contact Dr. Brasch at walterbrasch@gmail.com

Walter Brasch 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