Comments on: Public Aware That Like Obama, Financial Crisis Is Largely a Media Creation

By: Glenn Cassel AMH1(AW) USN RET

Glenn Cassel AMH1(AW) USN RET — Fri, 19 Dec 2008 13:37:11 +0000

You oughta see it here in Wichita. It is an aircraft town and our msm outlets are freaking on the economy and at the same time having orgasms for obama. Especially Felicia at channel 12.

By: Kerwin

Kerwin — Fri, 19 Dec 2008 05:48:09 +0000

Nick,

I was watching the Lou Dobs show as the Weatherman and other were joking about global warming hysteria. In real life the only think constant about the weather is that it changes. Western Europeans are a bunch of socialists which is why they tend to have high unemployment rates and riots in there cities. I also think it is interesting how they need cameras everywhere to keep the peace.

Still what does all that have to do with the economy which is actually worse in Europe from what I have heard.

By: Nick

Nick — Thu, 18 Dec 2008 18:08:06 +0000

I just can’t believe you guys. You’re even more fatuous than the left of the left. Get real. You’ll be sitting in a flooded coastal town telling me that climate change is all just media imaginations. And if one administration took spin and media influence to a whole new level (with the media playing along), sure it is this one. Watch European news to realise how right-winged even the most ‘liberal’ news in the US is. Why am I wasting my breath again?

By: Leaning Straight Up » What economic crisis? You mean the one the media made up?

Thu, 18 Dec 2008 09:06:52 +0000

[...] It comes as no shock to learn that there is now a belief that the media is behind this created panic: Public Aware That Like Obama, Financial Crisis Is Largely a Media Creation [...]

By: Kerwin

Kerwin — Thu, 18 Dec 2008 05:57:49 +0000

I invested my 401K in bonds and am sitting pretty right this time. I am thinking of moving it to stocks since buying low and selling high is what the stock market is all about. I also like the money I am saving on gas and fuel oil. I use a low gas millage car but still save about 80 dollars a month gas. If I had not already paid off my house because I bought one I could actually afford I would consider buying one now that prices are so low. Thinks look good for this Ant.

By: Angie

Angie — Wed, 17 Dec 2008 20:14:21 +0000

Sorry, I’m with tm on this one. It’s bad, far worse than they talk about; they likely have little grasp of economics and, therefore, have no clue what these premises indicate – and it will get worse before it gets better. The economic convulsions we are going to experience over the next (at least, depending how much meddling Congress and the Fed do to the system) 6 to 24 months are going to make the Great Depression look like a picnic. Personally, I’m predicting a big old thump on the skull in (tops) 4 months or so.

By: Krystal

Krystal — Wed, 17 Dec 2008 19:18:01 +0000

If it is really as bad as they pound away at, then why aren’t all the gov’t desk jockeys being laid off? Gov’t officials’ salaires should be cut, pensions trimmed and so forth instead of raising our taxes here in NY? Why is the working taxpayers having to be penalized before any cuts are made to the “servants’ we pay. This whole gov’t feeding trough which supplies their salaries and pensions comes off the back of our hard earned wages. Enough already. Public service has becomes a place to get rich off the working class, make deals, get lobbying jobs. I think Americans should start demanding cuts be made to government before taxes rise again.

By: tm

tm — Wed, 17 Dec 2008 19:09:10 +0000

Not to rain on the parade here, but I can confidently say that the situation is much MUCH worse than the MSM is reporting.

A 10% default rate on mortgages is fatal because the amount of leverage that “created” the funds which are represented by those mortgages, was beyond reckless.

Put it this way. If you walk into Caesar’s Palace with a million dollars in your pocket – which you borrowed from your best friend – and you lose 10% of that, you still owe a million dollars to your friend, but only have 900-grand in your pocket. So now, it turns out, the money you borrowed from your best friend turns out to be $100,000 he borrowed from ten different people. Now ten different people are dragged into losses. And then it turns out the friends of your friend borrowed THEIR funds which they turned around and loaned to your friend, who turned around and loaned it to you, expecting you to win at the craps table.

Multiply that thousands and thousands of times, and suddenly your looking at multiple billions of dollars of wealth that just went up in smoke, and everyone loses down the line.

In a nutshell, this system was so leveraged, even a 4 or 5% default rate would be fatal. It collapses on itself. It has no other choice.

This time next year, people are going to be screaming that the media was so sanguine in the face of very obvious red flags flying left, right, and center.

By: Magic

Magic — Wed, 17 Dec 2008 17:34:10 +0000

The media is still in competition to determine which of them will be the confirmed PR firm for the DNC. They know that the one that secceeds will thrive as long as the democratic party exist. A few months from now the various media groups will come to get their free money (bailout) and they know that the DNC will fight to give it to them for past and future support.

By: xerocky

xerocky — Wed, 17 Dec 2008 17:22:31 +0000

The other day I was watchin CBS and they said that 1 out of 10 mortgages was in default, with this gloom and doom attitude.

If there were a Dem already in the White House, it would have been presented as “9 out of 10 mortgages are being paid on time! La la la la”. Which is exactly what’s going to happen. When Obama is in office, there will be a sudden “turn around”, and the MSM will be going on and on about Obama’s economic miracle, which in reality will be a slight improvment, which shold begin to begin in about 2010.

Cantbethisstoopid, you’re investments will bounce back, because if the market is known to do anything, it’s fluctuate. Even when those in power do whatever they can to try to kill it, the American economic situation keeps bouncing back. Go back to sleep.