…an iterative guide to MSM distractions from economic reality…

…first thing, we wish the best of luck to Kim, Kanye, Paris HIlton (?) and their fellow travelers, and move on quickly…

On the economy and the status of citizens, how informative has been the MSM, especially the US MSM, cable and network? Exactly.

On the subject of inequality and declining quality of life, aside newest or just new smartphone, precious little. For over a decade economists have been pointing to the increasing inequality in the ‘advanced’ countries, especially the US and the UK, as many ‘developing’ countries, especially of Latin America and the Caribbean (LAC), continued their policies to alleviate poverty and inequality, even despite strong opposition from a hostile North. Of course, many leading politicians of the north have done their part in ignoring the very issue, as their corporate benefactors would expect.

Handy references on inequality.

Tony Atkinson and Salvatore Morelli, The chartbook of economic inequality Easy article to read, and the authors point to their extremely friendly and informative, Chartbook of Economic Inequality – Economic Inequality over the Long Run, excellent guide. As the  charts show, the thing didn’t start with the publication of Piketty’s book. The vitriolic attack of the FT against Piketty seems to suggest some corporate panic at the issue still not exiting the stage.

Wilkerson and Pickett. 2009. The Spirit Level (paperback) Very easy to read and some highly informative charts that cover the US and its states, and other countries.

Joe Stiglitz. 2012. The Price of Inequality (paperback). Main focus is the US but still still informative and accessible -also, no equations.

House of Debt, Food Stamps and Failed Economic Policies. This, on the US, juxtaposes nicely and embarrassingly with the programmes in some LAC countries. Again, from the charts comes the evidence of the efficacy of the policies of either of the corporate political parties.

And some recurring questions. If wealth of at least US$20 trillion is stashed in hidden overseas tax havens, why cannot governments track these down? Would a look at this news item help? Bilderberg conference 2014: eating our politicians for breakfast. And for additional perspective, Bilderberg on Ukraine: military chiefs, arms bosses and billionaire speculators. Stuff that the likes of the NYT and WaPo would avoid. Truly hilarious, or depressing reading. Any wonder why the 1% fare so well? Or what starting a war or coup against some country ‘to protect our freedoms’ really means? And to imagine that US and other political activists were once considered on the lunatic fringe on this little tawdry matter of the ruling class – profound apologies are due, as this Bilderberg PR gimmick is seen for what it is.

And beware of an expression intended to distract from reality: ‘inclusive capitalism’, and its origins are from the north, a ‘fave’ of the IMF’s Christine Lagarde – more reason to be suspicious. Non-predatory predator?

The traditional corporate MSM will continue with that narrow, superficial schedule of issues guaranteed to distract, to divert from economic reality. That has been the plan, and well executed – till recently.

…and, yes, no one notices even a token or two as photo prop for that ‘other’ inclusiveness…

Advertisements