Can the credibility of the corporate mainstream media drop any lower? First quarter GDP was SLASHED due to consumer spending imploding. The MSM interprets this as good economic news which is good for the markets or bad economic news which is also good for the markets. The average dolt just nods their head like one of those dogs you used to see in the back of car windows. There is no fear in the market. The Big Swinging Dicks on Wall Street are sure that Bennie has their back and will rescue them. Every drop is still an opportunity.
Meanwhile, in the real world, the situation is deteriorating rapidly. China, Japan, and Europe are all on the verge of collapse. The Middle East is exploding. Oil prices are still above $95 a barrel. Obamacare is sucking the life out of the economy. The government drones are telling the sheep that the budget deficit for 2013 will be “ONLY” $600 billion. That’s funny. The national debt is already UP $672 billion through June 25. I know my math knowledge isn’t as awesome as the government drones at the CBO, but I believe the real deficit (not the accounting gimmick number reported by Obama and his minions) will be at least $900 billion. The recent surge in interest rates will add an additional $100 billion of interest to our annual tab.
But ignore the facts. Just believe the propaganda spewed at you day after day by the “journalists” on the MSM corporate outlets.
It’s Bizarro Headline “Explanation” Day
Submitted by Tyler Durden on 06/26/2013 11:26 -0400
Ah, the wonderful life of a mainstream media journalist where everything is linear, where everything is perfectly explainable to an overeager public using “as” linkers, and where in the name of propaganda and keeping your editor happy, logic and objectivity is also known as “collateral” damage.
For example, take stocks, which can rise due to improving economic data…
But also, at the same time, stocks rise due to deteriorating economic data, and bets on more Fed stimulus…
But things are even clearer when it comes to gold, which in turn drops on good news as it “supports” the Fed’s scaling back…
… and also drops on bad news, because in this case, deteriorating economic data (GDP miss) implies less inflation.
And now you know how “media” is done.