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Wed Nov 21, 2012, 02:26 PM

Paul Krugman: C Is For Class Warfare

Ryan Chittum has a great piece about CNBCís decision to drop even the pretense of journalistic objectivity and throw its weight behind the deficit scolds. Basically, the network has gone all in on behalf of the 0.01 percent.

One question Chittum doesnít really get at, however, is why CNBC takes this tilt ó why, in fact, it has been so dominated by the fake deficit hawk faction, the people who say that the debt is terrible, terrible, and thatís why we have to cut taxes on the rich. After all, the networkís audience does not consists mainly of the very rich; rather, itís the 1 percent wannabees, who imagine that watching many hours of talking heads will somehow let them absorb the secrets of getting rich.

........//snip

No, this is what the audience wants. And itís what they want even though the Austerian stuff the network peddles has been wrong, wrong, wrong, wrong (have some fun with Chittumís hyperlinks on Larry Kudlow). Never mind that the Keynesians have been right about interest rates, inflation, austerity, and more; the audience wants to hear about the debt crisis and hyperinflation coming any day now unless we cut taxes on the rich, or something.

.........//snip

It is, I believe, a tribal identity thing; the consumers of business news want to see themselves as part of the economic elite, although they mostly arenít. And Chris Mooney wins again: weíre talking about personality types who arenít responsive to evidence. Indeed, the more often you show them that their hard-money, anti-spending prejudices have been proved wrong, the more deeply those prejudices become entrenched.


http://krugman.blogs.nytimes.com/2012/11/21/c-is-for-class-warfare/

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Reply Paul Krugman: C Is For Class Warfare (Original post)
LongTomH Nov 2012 OP
Doctor_J Nov 2012 #1
geckosfeet Nov 2012 #5
loudsue Nov 2012 #2
AlbertCat Nov 2012 #4
ReRe Nov 2012 #3
smirkymonkey Nov 2012 #6

Response to LongTomH (Original post)

Wed Nov 21, 2012, 03:37 PM

1. I don't know any sane person who considers Fox, CNBC, FBC, or CNN news

they are worse than the Soviet and Nazi propagandists during their respective reigns.

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Response to Doctor_J (Reply #1)

Wed Nov 21, 2012, 04:58 PM

5. +100

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Response to LongTomH (Original post)

Wed Nov 21, 2012, 04:14 PM

2. That's a GREAT line!!

Indeed, the more often you show them that their hard-money, anti-spending prejudices have been proved wrong, the more deeply those prejudices become entrenched."

That's the whole rightwing stupidity in a nutshell.

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Response to loudsue (Reply #2)

Wed Nov 21, 2012, 04:39 PM

4. the more often you show them that their hard-money, anti-spending prejudices have been proved wrong,

...the more deeply those prejudices become entrenched."


Gimme a "C"
Gimme a "U"
Gimme an "L"
Gimme a "T"

What's that spell?

GOP

What's that spell?

GOP

What's that spell?

GOP

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Response to LongTomH (Original post)

Wed Nov 21, 2012, 04:36 PM

3. K&R

Bookmarking to come back later... when the turkey's in the oven..

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Response to LongTomH (Original post)

Wed Nov 21, 2012, 06:26 PM

6. K&R

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