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That's the way it looks to me, too, Aresian...though I'm not an expert and I find everything I try to learn about such things frustrated by the nature of the capitalist system at this point. Basically, consumer capitalism means that the news--all news, but especially economic news--becomes something of a loyalty test for the media. Not quite like wartime reporting, but close to it. They find it easiest to mindlessly repeat what they're told by the authorities. And they agree with it ideologically. And, perhaps most importantly, they are there as voices of those advertisers who've bought them their place in the public eye. I mean, they're all whinging on about the scandalous connection between Glen Beck's fear mongering appeals to buy gold, and one of his main advertiser, which buys and sells gold... But isn't that just a somewhat exaggerated version of what they all do? The investment companies, auto companies, insurance, etc., etc.,etc. that advertise on these shows do well or poorly very immediately based on consumer confidence. For this reason alone--again setting aside the question of ideology, laziness, etc.--there's no incentive for American media to report real news about the economy if it's not particularly encouraging.... ML ________________________________________________ Send list submissions to: Marxism@lists.econ.utah.edu Set your options at: http://lists.econ.utah.edu/mailman/options/marxism/archive%40mail-archive.com
