Please don't badmouth Stiglitz, he's been saying the right things and backing them up with real stats for many years, even if he was totally dissallusioned by his years in power.
The media rewriting of this story is one of the most important parts, as J. had chronicled over and over recently. One senses a perfect storm building. A Goldman Sachs banker in an unamed Asia country told me today, "Our house is divided, but we're all ready to pounce. Something we've never seen before is happening."
For me, the scariest part of J's analyses over the past weeks has been the role of the media. It's not spin, it's not coverup, it's not misdirection, it's something deeper but more professionally achieved, which i can't quite grasp yet. When i spoke with bankers in NYC last week, i couldn't help the feeling that i was talking to ostriches. "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
The media echoes give me this taste of fatal obstination. On the money, on the empire. Same thing, anyway.
...I'm not quite sure what that overall effect is yet.
So many effects, so little left on the shelf to choose from.
The one effect that is getting more and more commented upon by friends who I write with is how effective the Bushites have been in driving us all into apathetic 'nothing but writing in blogs' effect. Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
...the role of the media. It's not spin, it's not coverup, it's not misdirection, it's something deeper but more professionally achieved ...
(Perhaps anyone can be, but not everyone can be. And a certain adherence to being whiteanglosaxon has a certain unspoken something to do with it.)
Notwithstanding, the press are certain that they can be a part of this, especially since their bosses are part of this and who wants to be out of favor with the boss? By the time that they figure out that they are traitors to their class and that they are being tools in a well greased system...well, can't go to far ya know...gotta think of my pension and the kids...Besides, if I don't do it, someone else will who isn't as sensitive and who isn't on our side, ya know. Never underestimate their intelligence, always underestimate their knowledge.
