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I have found checking the market page at Bloomberg to be very useful in deconstructing financial media currently. It is astounding what changes one finds over the course of an hour, as a lead story disappears after a few minutes because it upsets the market, to resurface on the back pages later on. Then, as JaP sets here, a screenshot could be illuminating. I wish i had documented some of the stories that hit the front page over the past few weeks as the markets were rebounding, and i was thinking, are these people completely without understanding or... Skennah Kowa
The recession has, I think, pretty clearly begun. This is going to be very bad. Where's your motherf*%&ing flag pin?
Where it has not percolated yet is in the generalist pundit class - they can't seem to process what's going on. In the long run, we're all dead. John Maynard Keynes
A good proportion are paid and sponsored propagandists who knowingly and deliberately turn out the Party line.
The rest are arse licker apparatchiks - like the toadies who write for the Economist - who want to feel they're specially privileged and live on the inside.
There is no punditry going on here. The disinformation is almost exactly equivalent to a totalitarian propaganda machine. It's a little bit shinier, a little bit more self-assured and a little bit better dressed than Pravda used to manage, but functionally the output is identical in quality and intended influence.
Intrusions of the unanointed, unwashed into the real data stream (like mine)was one of the reasons for the huge pressure to encrypt.
So, as you point out, this perverse propaganda process is far from new- in fact, it has long been a basic element in "news" distribution. But we are far, far better at lying to ourselves than the USSR at it's peak ever was.
We believe our own bullshit. They didn't. Useful talking follows experience, the more experience the better. Talking that precedes experience is known as bullshit.
