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Paul Krugman: C Is For Class Warfare
Ryan Chittum has a great piece about CNBCs decision to drop even the pretense of journalistic objectivity and throw its weight behind the deficit scolds. Basically, the network has gone all in on behalf of the 0.01 percent.
One question Chittum doesnt really get at, however, is why CNBC takes this tilt why, in fact, it has been so dominated by the fake deficit hawk faction, the people who say that the debt is terrible, terrible, and thats why we have to cut taxes on the rich. After all, the networks audience does not consists mainly of the very rich; rather, its the 1 percent wannabees, who imagine that watching many hours of talking heads will somehow let them absorb the secrets of getting rich.
........//snip
No, this is what the audience wants. And its what they want even though the Austerian stuff the network peddles has been wrong, wrong, wrong, wrong (have some fun with Chittums hyperlinks on Larry Kudlow). Never mind that the Keynesians have been right about interest rates, inflation, austerity, and more; the audience wants to hear about the debt crisis and hyperinflation coming any day now unless we cut taxes on the rich, or something.
.........//snip
It is, I believe, a tribal identity thing; the consumers of business news want to see themselves as part of the economic elite, although they mostly arent. And Chris Mooney wins again: were talking about personality types who arent responsive to evidence. Indeed, the more often you show them that their hard-money, anti-spending prejudices have been proved wrong, the more deeply those prejudices become entrenched.
http://krugman.blogs.nytimes.com/2012/11/21/c-is-for-class-warfare/
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Paul Krugman: C Is For Class Warfare (Original Post)
LongTomH
Nov 2012
OP
Doctor_J
(36,392 posts)1. I don't know any sane person who considers Fox, CNBC, FBC, or CNN news
they are worse than the Soviet and Nazi propagandists during their respective reigns.
loudsue
(14,087 posts)2. That's a GREAT line!!
Indeed, the more often you show them that their hard-money, anti-spending prejudices have been proved wrong, the more deeply those prejudices become entrenched."
That's the whole rightwing stupidity in a nutshell.
That's the whole rightwing stupidity in a nutshell.
AlbertCat
(17,505 posts)4. the more often you show them that their hard-money, anti-spending prejudices have been proved wrong,
...the more deeply those prejudices become entrenched."
Gimme a "C"
Gimme a "U"
Gimme an "L"
Gimme a "T"
What's that spell?
GOP
What's that spell?
GOP
What's that spell?
GOP
Bookmarking to come back later... when the turkey's in the oven..
smirkymonkey
(63,221 posts)6. K&R