Brain-Dead Economic Reporting: If Wall Street Approves of Obama's Plan, It Must Be a Winner!


	Brain-Dead Economic Reporting: If Wall Street Approves of Obama's Plan, It Must Be a Winner!

JICWyllie

3-25-2009 6:32 AM

86 views

tags:

economy, i-depression, i-policy, i-stimulous, i-risks

JICWyllie says:

All this talk about "pump priming" and "kick starting". As it happens the economy is not a pump or a combustion engine. People who believe these ideas are being blinded by simplistic metaphors which disguise an infinately more complex reality.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8271559b-2e1c-4bb5-b413-1fa1f8228f0b/151721CA-D5DC-4C02-B418-13C5104FF91C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.alternet.org/mediaculture/133246/brain-dead_economic_reporting%3A_if_wall_street_approves_of_obama%27s_plan%2C_it_must_be_a_winner%21/" href="http://www.alternet.org/mediaculture/133246/brain-dead_economic_reporting%3A_if_wall_street_approves_of_obama%27s_plan%2C_it_must_be_a_winner%21/" style="font-size: 11px;">www.alternet.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/mediaculture/133246/brain-dead_economic_reporting%3A_if_wall_street_approves_of_obama%27s_plan%2C_it_must_be_a_winner%21/"><P>Our press corps has discovered an important scoop: Rich people approve of using taxpayer money to help rich people.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/mediaculture/133246/brain-dead_economic_reporting%3A_if_wall_street_approves_of_obama%27s_plan%2C_it_must_be_a_winner%21/"><P>Immediately after the Obama administration unveiled its cunning plan to help the titans of Wall Street avoid the hit that should result from their bad decisions, members of our national press corps fanned out across the land to ask investment bankers, hedge-fund managers and stock traders whether Obama's plan went far enough in lining their pockets with taxpayer cash.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.alternet.org/mediaculture/133246/brain-dead_economic_reporting%3A_if_wall_street_approves_of_obama%27s_plan%2C_it_must_be_a_winner%21/"><P>In case you haven't noticed, there's a common thread throughout all of this coverage, which is that Geithner's plan cannot be successful unless it wins the enthusiastic endorsement of the very rich people who drove the broader economy into the ground in the first place. Our press corps' primary gauge of measuring rich peoples' happiness is the Dow Jones Industrial Average, which it uses as a general substitute for actual economic statistics. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/151721CA-D5DC-4C02-B418-13C5104FF91C/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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