Wednesday, February 11, 2009
Dr. Doom Versus Teh Kool Kids
This video has generated some buzz among the political blogs, and I think it's very, very instructive on the role of our national media during this financial crisis. If you're perceptive, you can learn quite a lot.
Once again, the idea of the national news media as a high school clique of insecure, superficial popular kids rears its head. There's no question, really, who is the teacher in this conversation, and who are the students. But why is this? And why do cable networks like CNBC spin events the way they do? I'll leave that for you to discern. But, if nothing else, you should know better than to take these Villagers' advice for anything. If you have, you may have already lost your shirt at the dog track.
Pick stocks! Pick stocks! Doom! Gloom! Our discourse is run by the stupids.