Sunday, May 06, 2012

CNN's Version of Economics

It has been an interesting morning watching Ali on Your Money as it reflects on European elections and austerity.  The reaction of Ali and his panels to the outcomes of European austerity has been pretty funny - they're really puzzled that recession is returning and that the people don't like that and double digit unemployment.  "Living within your means," was a common thread and apparently the rubes in Europe don't quite get it.

Somebody came on and explained Keynesian economics and noted that those Keynesian's might be hoping these elections mark winds of change.  Somehow Europe managed to buy farther into Trickle Down Economics than Americans and they're seeing the results.  The tinkle down crew wants to talk about poor employment numbers while it ignores that cuts in public employment are continually undercutting what private growth there is.  Even with the miserable programs Democrats have managed to keep afloat or pass previous to '10 public employment has shrunk and those dollars went away into two areas - essentials affordable on the safety net and   the removal of their income from governmental tax roles onto government costs.  If there were private jobs for those folks to move to you wouldn't get the double whammy to the economy - but all the GOP wishes won't make that go away.

It isn't in the interests of GOP electoral success for the economy to improve under President Obama and Democratic ideas.  If you want to understand how deeply the GOPer influence has penetrated various media all you have to do is listen to the reaction from Your Money from  getting heat for putting out the GOPer idea that Greece is what you get if you don't act now - that the left says look at the polls and that is what you get and that is entire horseshit - look at the results of austerity in recession/dead growth and that is what you get.  Yes, if you completely trash the economy voters will rebel - it could be said that is the aim of the GOP.

You might not be surprised that Your Money takes a GOPer perspective, but why the go to person for Fredericka Whitman on the French and Greek elections is David Frum (GWB speech writer) is a question that has bad answers.  Your liberal media in operation...

The 0.1% will do fine no matter how badly they crash the rest of us - right up to the pitchforks reaction (and that ain't gonna happen).

About pitchforks - there would be scapegoats, but the reality is that most of them will be downstream from most of the pitchfork and torch carriers, minorities with no where to run and no money to buy protection.  Be very careful what you wish for.  

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