The MSM Jumps on the
Economic Bandwagon
By Kathy Sanborn
18/09/08 "ICH"
-- - So the US economy is on the brink? Yawn. Tell me
something I didn’t know at least two years ago. Now the
mainstream media have been given the green light to
announce, bold as you please, that we are in for some pretty
tough times, but Internet news and blog readers have known
about our faltering financial system for a long, long time.
Now, in the mainstream press, it has become popular to state
the obvious: the country is broke.
Where were the
mainstream media financial geniuses several years ago, when
people like Joseph Stiglitz told us, via the Internet, that
we were heading for a fiscal train wreck the likes of which
no one has seen since the Great Depression?
Where were the TV
pundits when
Dr. Paul Craig Roberts
told us, at least two years ago via the Internet, that we
were going to lose our shirts, due to outsourcing and
investing in “funny” money?
Where were the
breathless media when economist Lyndon LaRouche declared, in
an Internet webcast at least two years ago, that our
financial system would be finished unless it went into
bankruptcy protection?
Why weren’t
everyday citizens informed through the so-called public
airwaves that derivatives and exotic investments were the
chief cause of our current financial turmoil, and not the
so-called sub-prime mortgage loans?
A sleight-of-hand
is occurring; now you see it, now you don’t. Using exotic
debt instruments was probably illegal, says author and
historian Webster Tarpley, yet the players involved are
getting bailed out. Talk about rewarding the transgressors!
While you and your children choose between fueling the
family car and buying groceries this week, the already-rich
bankers are begging “Daddy” government to save their behinds
– and not paddle them instead.
Internet writers
like
Mike Whitney
have been pounding away at their keyboards for years,
trying to warn the public of the brewing financial storm,
but only those savvy enough to get their news from the
Internet were the beneficiaries of their wisdom.
Add another black
mark for the mainstream media, but is anybody really
listening to them anyway? Their “Chicken Little, the sky is
falling” warning is too little, too late.
© 2008 Kathy
Sanborn
Kathy
Sanborn is an author, journalist, and recording artist with
a new CD, Peaceful Sounds. Listen to clips and buy the album
at
http://cdbaby.com/cd/kathysanborn.
