5 REASONS WHY THE MSM IS WORSE THAN YOU THINK

28 comments

Posted on 13th May 2013 by Stucky in Economy

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Admin daily informs us about the lying MSM whores. Rightfully so … although calling the media ‘whores’ is an insult to whores everywhere.

A lot of anti-MSM articles are just too full of vitriol to be of much use (but, fun to read!). This one does a terrific job calmly looking at the underlying causes.

I am old enough to recall the jokes about the Russian press, Pravda (meaning, “Truth”). Hahahaha! My generation of utes wondered, “How in the fuck could they even exist considering all they do is lie? And, why in the fuck do the Russian people put up with that shit??”. Little did we know that America would become, no – surpass, Pravda.

Bottom Line: Shit is fucked up and bullshit …. and it will NOT get better.

Do svidaniya, Amerika

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THE NEWS MEDIA IS EVEN WORSE THAN YOU THINK
5 corrupting influences are keeping the public from the facts

By Brett Arends

Anyone who feels cynical about the U.S. media has been having a good few weeks.

There have been the high profile goofs — by CNN, in its coverage of the Boston bombings, and by Howard Kurtz, the famous media “critic,” in a blog post about gay athlete Jason Collins. The Tribune Company faces a potential takeover by the, er, colorful Koch brothers.

And it all comes, with perfect timing, on the tenth anniversary of the exposure of Jayson Blair, the serial fabulist, at the New York Times. It’s become a cliché these days to say you don’t trust the media. But you know what? You’re right not to do so.

The problems aren’t as bad as they appear. They are much, much worse.

And, as usual, almost everyone is focused on exactly the wrong things.

The problem isn’t that the occasional journalist makes a mistake on deadline. We’re human, folks. The problem isn’t big business, or corporate control. It isn’t even the Koch brothers. If you’re a liberal, you should probably want them to blow $600 million on a loss-making newspaper company. Here are the real problems. And I don’t see any solutions.

1. SPEED

Once upon a time, newspaper companies put out one newspaper per day. Even reporters on deadline had until 6 p.m. or even later to investigate, report, write and check their stories before filing.

Those working on features could spend weeks or even months on them. Mistakes still happened, of course, because people are human. But at least there was time for thought. Today? Nah. We want it now. We want the news as fast as Twitter, or faster — oh, but with lots of checking too. That’s why CNN misreported an arrest in the Boston bombings when none had actually occurred. That was one reason why Kurtz blundered in a blog post about gay basketball player Jason Collins: As Kurtz later admitted, he simply hadn’t read the original Collins interview closely enough.

Personally, I think the kerfuffle over these errors was massively overdone. People make mistakes. (My sympathies are usually with the journalist in these circumstances, although Kurtz is to some extent hoist with his own petard.) But there’s a more important point here – one that affects the public, and not just the media crowd.
With reporters increasingly running around like headless chickens, perpetually tweeting, blogging, doing videos and writing stories, this is going to happen more and more. It’s inevitable. You, the public, are going to end up being served a diet of rubbish.

Too much media is going to turn out like too many calories. I suspect we are going to find out that a healthy news diet consists of one professionally produced newspaper a day, read during breakfast. But the high-speed electronic media is putting those papers out of business.

2. MONEY

I’m talking about the lack thereof.

A media outlet recently advertised a job for “an experienced writer” with a “solid” record of publishing articles in outlets such as the New York Times, National Geographic and so on. Salary? The job was unpaid. The posting was reported by Jim Romenesko, the media writer. It was not an isolated incident. A major non-profit media outlet known to me is looking for columns from top-quality writers. The pay? Fifty bucks an item. Good luck with that. A liberal media doyenne praised President Obama for demanding an increase of the minimum wage, but doesn’t pay her bloggers anything at all. The Atlantic magazine recently came under fire for asking a freelancer to write something for free. The writer, instead, published the email exchange. The Atlantic’s readers were up in arms against the magazine, but they missed the point. If those readers won’t pay the magazine for the news, how do they expect the magazine to pay the writers? As we used to say in third grade: Like, duh.

Readers don’t work for free, but for some reason they think reporters should.

This collapse of the economics of reporting is deeply corrupting, in ways that people are only just beginning to realize. For example, it leads inevitably to superficial reporting. If it takes three times as long to write a critical, investigative article as it does to write a piece of pap, and if reporters end up being paid per article, then writers of serious journalism will only earn a third as much as the writers of pap. Pure math.

The lack of money also leads to dangerous stampedes and obsessions. Everyone jumps on the big “trending” (yuck) story. Something that’s not hot or sexy just won’t get written. Sure, maybe it’s important. But we need the page views, you see. Sorry.

3. ACCESS

In early 2007, when the subprime crisis first blew up, some executives at big mortgage lending companies were going around telling everyone that their companies were okay. But I reported at the time that several of these executives were also quietly dumping stock in their own companies as fast as they could. Six months later one of the companies had plunged into crisis and was sold off cheaply. The CEO was interviewed on TV about the industry. Not once — not once — did the big-name interviewer ask him about the way he had dumped his own stock.

There’s a reason the interviewer didn’t ask that question. It wasn’t her job. She wasn’t paid to break news. She was paid to get what the TV crowd calls “the big ‘get.’” In other words, she was paid to get access. Her job depends on getting the honchos to come on her show. And to get them to come on her show, she had to promise them — implicitly — an easy ride.

A few years ago a Wall Street tycoon was so incensed by a plan to eliminate one of his tax loopholes that he invoked the memory of the Holocaust by comparison. He is still welcome on TV channels. He is still invited to give speeches at lucrative media conferences. That’s because he still has money and power, and the media cannot give up their access to him.

No one who asks tough questions will ever get “access.” And an increasingly powerless media needs access. Work out what will happen.

4. CONSENSUS

Do you want to know what kind of person makes the best reporter? I’ll tell you. A borderline sociopath. Someone smart, inquisitive, stubborn, disorganized, chaotic, and in a perpetual state of simmering rage at the failings of the world. Once upon a time you saw people like this in every newsroom in the country. They often had chaotic personal lives and they died early of cirrhosis or a heart attack. But they were tough, angry SOBs and they produced great stories.

Do you want to know what kind of people get promoted and succeed in the modern news organization? Social climbers. Networkers. People who are gregarious, who “buy in” to the dominant consensus, who go along to get along and don’t ask too many really awkward questions. They are flexible, well-organized, and happy with life.

And it shows.

This is why, just in the patch of financial and economic journalism, so many reporters are happy to report that U.S. corporations are in great financial shape, even though they also have surging debts, or that a “diversified portfolio” of stocks and bonds will protect you in all circumstances, even though this is not the case, or that defense budgets are being slashed, when they aren’t, or that the U.S. economy has massively outperformed rivals such as Japan, when on key metrics it hasn’t, or that companies must pay CEOs gazillions of dollars to secure the top “talent,” when they don’t need to do any such thing, and such pay is just plunder.

All of these things are “consensus” opinions, and conventional wisdom, which are repeated over and over again by various commentators and vested interests. Yet none of them are true.

If you want to be a glad-handing politician, be a glad-handing politician. If you want to be a reporter, then be angry, ask awkward questions, and absolutely hate it when everyone agrees with you.

5. NARRATIVES

After long analysis and debate, the jury is pretty much in on the housing bubble and financial crisis.
Wall Street did it.

A broken system with lots and lots of bad incentives meant speculators got paid to take big, stupid gambles on real estate, mortgage brokers got paid to write crazy loans, bankers got paid to pass the paper on to clients, and ratings agencies got paid to say it was all going to be OK. There was more to it than that, but that’s a good capsule summary.

But not for one section of the media. The “right-wing” media, including some otherwise perfectly sensible people, will still pound the table in fury, turn purple in the face, and insist that the whole thing was caused by the government, Fannie Mae and Barney Frank.

There’s a reason for this. It has very little to do with the facts. It has to do with the human brain.

We think in terms of stories. “Tell me a story,” says the child to her parents. She doesn’t say, “Give me some analysis.” In his book “Black Swan,” Nassim Taleb talks about the way human beings tend to create narratives around facts, whether the facts justify the narratives or not. Psychologist and political consultant Drew Westen’s superb book “The Political Brain” — a must read — argues that if you want to succeed at spin, you must basically spin a tale.

People on the right believe their alternative narrative about the crisis simply because it fits their broader narrative, the story of the Big Bad Government and the Perfect Market.

People on the left are just as bad. They are just as apt to believe all stories about the wonderful, beneficent effects of government spending, about the evils of any private-sector enterprise, and about universal racism, sexism and so forth.
People have a tremendous bias to think in terms of narratives. And in the new world of Infinite Media, where there are no rules, walls or restraints, all parts of the media are subject to an overwhelming incentive to pander to that bias. That is true of Fox News (owned by News Corp., the publisher of MarketWatch) and the liberal MSNBC, of The Wall Street Journal (ditto) and the New York Times.

Americans are programmed to call that “freedom.” I call it chaos. And I don’t trust it one little bit

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http://www.marketwatch.com/Story/story/print?guid=53A39C1C-B91C-11E2-9153-002128040CF6

WISHES, FANTASIES, DELUSIONS & DUMBASSES

13 comments

Posted on 29th April 2013 by Administrator in Economy |Politics |Social Issues

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The shallowness of MSM faux journalists and the utter ignorance of the American populace is a match made in delusional heaven. Kunstler takes a big old shit on this party of dumbasses.

We Wish

By James Howard Kunstler
on April 29, 2013 9:07 AM
 
       Wishful thinking now runs so thick and deep across the USA that our hopes for a credible future are being drowned in a tidal wave of yellow smiley-face stories recklessly issued by institutions that ought to know better. A case in point is the Charles C. Mann’s tragically dumb cover story in the current Atlantic magazine — “We Will Never Run Out of Oil” * — setting out in great detail the entire panoply of techno-narcissistic “solutions” to our energy predicament. Another case in point was senior financial writer Joe Nocera’s moronic op-ed in last week’s New York Times beating the drum for American “energy independence.”
 
       You could call these two examples mendacious if it weren’t so predictable that a desperate society would do everything possible to defend its sunk costs, including the making up of fairy tales to justify its wishes. Instead, they’re merely tragic because the zeitgeist now requires once-honorable forums of a free press to indulge in self-esteem building rather than truth-telling. It also represents a culmination of the political correctness disease that has terminally disabled the professional thinking class for the last three decades, since this feel-good propaganda comes from the supposedly progressive organs of the media — and, of course, the cornucopian view has been a staple of the idiot right wing media forever. We have become a nation incapable of thinking, or at least of constructing a consensus that jibes with reality. In not a very few years, the American public will be so disappointed and demoralized by broken promises like these that they will turn the nation upside down and inside out, probably with violence and bloodshed.
 
Charles Mann’s Atlantic article begins by cheerleading for the mining of methane hydrates from the ocean floor. These are natural gas molecules trapped in ice formations in the muck around the continental shelves. Mann spotlights the efforts of a Japanese research ship conducting tests. Guess what: the Japanese are engaging in this because they have absolutely no fossil fuels of their own, and a failing consensus about nuclear power, and they are on a course to become the first advanced industrial nation to be forced to return to a medieval economy. That is, they are the most desperate among the desperate. You could say they’ve got nothing to lose (but a few billion of their rapidly depreciating Yen).
 
Methane hydrates are stable only at extreme pressures or very low temperatures. They also exist in the arctic permafrost, for instance, Siberia, where conventional natural gas drilling operations have been carried out for decades, with no contributions from methane hydrates. Undersea methane hydrate exploration projects have gone on for decades in the US, Canada, India, Russia, China, and Japan. The hope is that this so-called “hot ice” would turn out to be the gas equivalent of tar sands, which would mean at best a very expensive way to get more fossil fuels as the conventional sources dry up. That hope has dimmed in nations other than extremely desperate Japan. Like a lot of techno-wonders, the recovery of methane hydrates can be demonstrated on the “science project” scale. For now, no viable technique exists for getting commercially-scaled streams of natural gas out of methane hydrates. The Japanese themselves state that it would take at least ten years, if ever, to commercially mine methane hydrates. Japan doesn’t have ten years. It’s banking system is imploding, and without capital even the science projects will come to an end.
Charles Mann is equally rapturous about shale oil and gas. He writes:
 
“Today, though, fracking is unleashing torrents of oil in North Dakota and Texas–it may create a second boom in the San Joaquin Valley–and floods of natural gas in Pennsylvania, West Virginia, and Ohio. So bright are the fracking prospects that the U.S. may become, if only briefly, the world’s top petroleum producer. (“Saudi America,” crowed The Wall Street Journal. But the parallel is inexact, because the U.S. is likely to consume most of its bonanza at home, rather than exporting it.)”
 
    This is very misleading. The US consumes roughly 19 million barrels a day. The Bakken and Eagle Ford shale formations produce about a million barrels a day combined now, and guaranteed to get a whole lot lower within the next five years. Today’s near-peak production is based on furious drilling and fracking of extremely expensive wells — known as “the Red Queen syndrome” because they are running as fast as they can to keep production up. Meanwhile, the depletion curve on shale oil is a reverse “hockey stick.” 
 
 
Bakken decline graph.jpg
 
      The situation is similar for shale gas, the difference being that the temporary glut of 2005 – 2012 happened because we didn’t have the means to export surplus gas from the initial burst of development and it briefly flooded the domestic market. The price of shale gas is still below the level that makes it economic to produce and when it eventually rises to that level, and beyond, it will be too expensive for its customers to buy. Shale gas is also subject to the Red Queen Syndrome.
 
      These arguments have been well-rehearsed many times in this blog and elsewhere. But the key to understanding our energy predicament is ignored in cornucopian cases like Charles Mann’s Atlantic piece, which is the role of capital. Non-cheap oil has already worked its hoodoo on advanced industrial economies: it has already destroyed the process of capital formation. These economies were not designed to run on non-cheap oil and they can’t, and the capital is no longer there for even the research-and-development to change out the infrastructure, let alone carry out any as-yet-undesigned changes. Furthermore, there is no prospect that we can rescue the process of capital formation at the scale required to continue financing things like shale oil. The absence of real growth in the USA, Europe, and Japan has already destroyed the operations of interest and repayment of debt, and any new debt issued will never be repaid, meaning it is functionally worthless (we just don’t know it yet). These impairments of capital formation have left the major commercial banks insolvent and central banks have worked tirelessly to rescue them by issuing more “money” in the form of credit that can never be paid back.
 
       What all this means is that the capital does not exist to run non-cheap oil economies, or to continue indefinitely the production of non-cheap oil and gas, not to mention methane hydrates and other fantasy fuels.
 
     Joe Nocera’s op-ed in last week’s New York Times was shorter and even dumber (and lazier) than Charles Mann’s foolish Atlantic article. It was based on remarks made by Canada’s Energy Minister, Joe Oliver, who said (among other patently false and idiotic things) that Canada “has the resources to meet all of America’s future needs for oil.” Oliver was pimping for the Keystone pipeline project to transport tar sands byproducts from Alberta down to the US. Nocera swallowed everything Oliver said whole, such as “oil mined from the sands is simply not as environmentally disastrous as opponents like to claim.”  Is that so, Joe? And what’s your source for that assertion? Canada’s Energy Minister? The slug at the bottom of Nocera’s column said he was invited onto the op-ed page because regular columnists Gail Collins and Nicholas Kristoff were off (or on book leave). Nocera’s column was disgracefully ignorant. The editors should send him back to the Times business section where unreality is the order-of-the-day.
 
      Now, many people may draw the conclusion that some conspiracy is underway when the major mainstream media report the news so disingenuously, but that is just not so. The reason we, in effect, lie to ourselves incessantly is because of the master wish behind all the subsidiary wishes: we want to keep driving to WalMart forever and we can’t imagine any other way of life, let alone the way of life that the contraction of industrial economies is tending toward — which is to say a way, way downscaled and re-localized economic life centered on farming and artisanal manufacture. Yes, we are going medieval too, eventually, just like the Japanese, who will get there a little sooner than we will. It’s hard to swallow, I’m sure. That’s why we prefer the more digestible propaganda gummi bear treats like Charles Mann’s Atlantic article and Joe Nocera’s stupid op ed.
 
* This was the title on The Atlantic’s cover. Charle’s C. Mann’s article inside was titled “Why We Will Never Run Out of Oil.” Shame on the editors of The Atlantic.

LAUGHABLE GDP REPORT

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Posted on 26th April 2013 by Administrator in Economy |Politics |Social Issues

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The Ivy League Wall Street captured economists predicted a 3.2% GDP for the 1st quarter. The reported number was 2.5%. This number is utter bullshit and will be dramatically cut two years from now when they actually have the real numbers. The government makes this shit up on the fly. The confidence level of the numbers they report is about 10%. One look at the report and you know it’s bullshit:

http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&903=1

Consumer expenditures still account for 71% of GDP. According to the government drones at the BEA, consumer spending surged by 3.2% in the 1st quarter to the highest level in over two years. How fucking gullible do they think we are? The payroll tax increase and surging gasoline prices syphoned money out of the pockets of every working middle class person in America. The Savings Rate is near all-time lows. Retailers and restaurants across the land reported horrific sales and earnings for their most recent quarters. Revolving consumer credit has been declining, meaning Americans are spending less on their credit cards.

So you have people with less disposable income and consumer companies reporting flat or negative sales, but the government drones report consumers had a surge in spending. Luckily, not one MSM journalist or cackling CNBC bimbo has an ounce of critical thinking skills. No one will question the government data that can’t possibly be accurate based on what is happening in the real world.

When this number is adjusted to a negative number in two years on a Friday night after the close, no one will notice or mention it.

You’ll be happy to know the drones say we only have 1.2% inflation. Carry on.

 

Overhyped Q1 GDP Grows By Only 2.5%, Biggest Miss To Expectations Since September 2011

 
Tyler Durden's picture

Submitted by Tyler Durden on 04/26/2013 08:45 -0400

Less than an hour ago we speculated that “it wouldn’t be surprising for GDP to come substantially weaker than expected, only to be revised higher (or lower) subsequently.” Sure enough, we have gotten at least the first part right for now, with the advance Q1 GDP number printing a very disappointing 2.5%, on expectations of a 3.0% increase, up from 0.4% in Q4, and the biggest miss since Q3 2011. The reason for the big miss: Inventory and Fixed Investment came well below expectations, comprising 1.03% (of which autos represented 0.24%) and 0.53% of the 2.5% annualized increase GDP. Kiss the great CapEx investment story goodbye.

The only silver lining in today’s otherwise very weak report: Personal Consumption Expenditures, which were a sizable 3.2% versus the 2.8% expected, and amounted to 2.24% or virtually all of the net Q1 GDP growth. So far so good .The bad news, however, is that this number will not sustain into Q2 and look for expenditures to plunge in the coming quarter. Finally, let’s not forget that it rained like 5 days in March, so there’s that. And of course, very soon, all GDP will be revised to add intangibles, so in retrospect Q1 GDP will likely have grown by a Ministry of Truth blush-inducing 10% or so.

 

And for those confused why the spending spree led “recovery” won’t last, the answer is simple: the US consumer is out of money, as can be seen by this savings (or lack thereof) rate chart.

Source: BEA

HOW DO WE GIVE $130 MILLION TO SYRIAN REBELS WHEN THE SEQUESTER IS SUPPOSEDLY FORCING US TO FIRE AIR TRAFFIC CONTROLLERS?

17 comments

Posted on 21st April 2013 by Administrator in Economy |Politics |Social Issues

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Inquiring minds want to know. How do we come up with hundreds of millions for Al Queda sympathizer Syrian rebels and $1 billion for new missile defense on the West Coast for the imminent attack by North Korea if the Sequester is gutting our country? By the way, since the Boston Bombing Reality Show began, have you heard a peep about the imminent threat from North Korea? Do you realize you are being played by those in control? Everything spewed at you by politicians and the mainstream media is either a lie or a propaganda message designed to control your emotions, because they know 98% of Americans are incapable of thinking critically.

US prepares $130m military aid package for Syrian rebels

Secretary of state John Kerry expected to announce plans as opposition forces and international allies meet in Istanbul

The US readied a package Saturday of up to $130m in non-lethal military aid to Syrian opposition forces while European countries consider easing an arms embargo, moves that could further pressure the government of President Bashar al-Assad.

US secretary of state John Kerry was expected to announce the plans about the defensive military supplies at a meeting Saturday that was bringing together the Syrian opposition leadership and their main international allies.

The supplies possibly could include body armor, armored vehicles, night vision goggles and advanced communications equipment.

US officials said the details and costs were to be determined at the meeting. They spoke on condition of anonymity because they were not authorized to publicly discuss Kerry’s announcement.

Kerry met with Syrian opposition leader Moaz al-Khatib before the conference began.

In the latest clashes, Syrian troops backed by pro-government gunmen battled rebels Saturday in a strategic area in Homs province near the Lebanese border, according to activists and state media in Damascus, the Syrian capital.

President Barack Obama has said he has no plans to send weapons or give lethal aid to the rebels, despite pressure from Congress and even some administration advisers.

Since February, the US has shipped food and medical supplies directly to the Free Syrian Army. The aid was expanded later to include defensive military equipment. So far, the US has provided an estimated $117m in non-lethal aid to the Syrian opposition, according to the White House.

Britain and France are leading a push to modify the European Union’s arms embargo on Syria to permit weapons transfers to the rebels by the end of next month. The embargo is to expire at the end of May unless it is extended or revised.

Those in favor of the change say there have been no decisions on whether to actually supply the rebels with arms. They argue that allowing such transfers would increase the pressure on Assad. US officials say they support testing this strategy.

Germany and the Netherlands, however, are said to be reluctant to support the step because they fear it would lead to further bloodshed.

Kerry said before leaving Washington that the conference aim was to get the opposition and all prospective donors “on the same page” with how Syria would be governed if and when Assad left power or was toppled.

With Syria’s civil war in its third year, the US and its European and Arab allies are struggling to find ways to stem the violence that, according to the United Nations, has killed more than 70,000 people. Despite international pressure, Assad has managed to retain power far longer than the Obama administration expected.

“We need to change President Assad’s calculation, that is clear,” Kerry told US senators Thursday. He said the Assad government’s survival largely depends on the continued support it gets from Iran, its proxy Hezbollah, and Russia.

“That equation somehow has to change,” Kerry said.

John McCain, one of the top Republicans on the Senate armed services committee, wants US military action, including airstrikes on government aircraft and weapons. But he does not want to send in American soldiers.

He said the steps he recommends would give moderate and secular opposition forces a better chance to succeed without having to depend on extremist groups that are supporting the rebels.

The US is not opposed to other countries arming the rebels, provided there are assurances the weapons do not get to extremist groups that have gained ground in the conflict.

Kerry said that Assad, his inner circle and supporters in Iran and Russia have yet to be persuaded to enter negotiations with the opposition and allow for a political transition.

He said he had not given up on persuading Moscow to reverse its support for Assad.

Kerry planned to meet Russian Foreign Minister Sergey Lavrov next week in Brussels on the sidelines of a Nato-Russia Council meeting.

“My hope is still that the Russians can be constructive,” he said.

MSM FLOWCHART OF FUCKUPS

10 comments

Posted on 18th April 2013 by Administrator in Economy |Politics |Social Issues

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http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/04/ARREST_900.jpg