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Month: May 2014
Categories
Economic Crisis Unreported
The U.S. economy is in a state of crisis, but you would hardly know it from listening to the major media. The facts, recently released by the U.S. Bureau of Economic Analysis, are damning:
America’s real gross domestic product marginally ticked upwards during 2014’s first quarter at 0.1%, a figure that is only technically not indicative of a recession.
In a clear symptom of a failing economy, exports are down, as is nonresidential fixed investment. But federal spending—(except for the crucial area of defense, at time when Russian, Chinese, Iranian, North Korean, and Islamic extremists threats are growing exponentially)—has increased, perhaps the only reason the numbers don’t reflect an actual recession in the civilian economy.
At the same time, inflation increased at an annualized rate of 5.6%, and that excludes the price hikes in the most inflationary areas of late, food and energy.In a clear indication of the descending strength of the U.S. economy, real exports of goods and services decreased 7.6 percent in the first quarter.
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While Americans struggled, federal government consumption expenditures and gross investment increased 0.7 percent. But as Russia, China, Iran and North Korea drastically expand their militaries and engage in threatening behavior, that extra government spending didn’t include defense, which, in these times of crisis, dropped 2.4%, while nondefense spending was hiked an unsustainable 5.9%.
Making life more difficult, Personal current taxes increased $18.9 billion in the first quarter. Personal saving — disposable personal income less personal outlays –dropped 28.7 billion from the prior quarter. The personal saving rate — personal saving as a percentage of disposable personal income – dropped .2%
Combined with the nation’s ongoing unemployment crisis, the drastic increase in the national debt, the expenditure of over $700 billion dollars by the White House in a stimulus program that accomplished nothing, the mismanagement of the American economy is clear and drastic.
Categories
Reporting…Nothing
Over the past few years, it seems that the quality of America’s major news media in television and print has deteriorated sharply. An examination of the coverage provided to recent stories demonstrates an almost unmistakable trend towards the type of “journalism” provided in gossip tabloids.
Consider the wall-to-wall coverage given to events that, while in a few cases important, bear almost no long range significance.
The loss of the Malaysian airliner was certainly a tragedy, and lessons learned should be applied to make future flights more secure. But the nonstop attention applied to it was excessive. It received a greater percent of ink and airtime for the period in which it occurred than major events which could profoundly affect the future of the entire planet. Further, the lack of quality analysis of the tragedy was astounding. Major news organizations discussed alien abductions and black holes. An army of so-called experts almost hourly expounded theories that contradicted each other. In the media’s drive to provide constant reportage, almost anyone who had the faintest semblance of a credential was interviewed.
The despicable comments of an aged sports team owner with a known penchant for inappropriateness dominated the news cycle for several days, as has the antics of misbehaving rock stars and Hollywood starlets. These types of stories have always been covered; the difference currently is that they have traded places with truly major issues in scope and extent of attention.
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Now consider some news stories that have had little to no major media reporting. Last December, Russian sources admitted they had moved nuclear arms carrying missiles to their European border. Length of US media reaction: A mere day or two of . All American tanks have been withdrawn from Europe over the past year. Newspaper or network TV coverage? Almost none. The unemployment rate for black youth in inner cities is a catastrophic 36.1%. Reportage? Barely any at all.
While the political comments of entertainment celebrities generally make the evening news and are discussed for days, bizarre statement by elected officials, such as Rep. Sheila Jackson Lee who believes “Christian militants” are attempting to overthrow the government and that the U.S. Constitution is “400 years old” generally leave the news cycle almost instantly.
An adequate media is essential to having a citizenry sufficiently informed to make decisions on whom to vote for. Due to its poor quality and overt political bias in favor of the current White House, the U.S. news industry has failed in this great responsibility.