If there’s one thing you can count on, it’s that Americans will believe whatever the news media puts out, and that gullible trait is what Will Rogers so often joked about in his public appearances.
“I only know what I read in the newspapers,” he would say as he apologized for his witticisms.
Except for his absence, nothing has changed. The government-controlled media is still issuing propaganda and the public is still sopping it up. This arrangement makes it easy for administrations to befuddle the populace. Here’s the latest spinnage from the government dutifully funneled through the Associated Press:
“WASHINGTON – Americans borrowed less for a 10th consecutive month in November with total credit and borrowing on credit cards falling by the largest amounts on records going back nearly seven decades.
“The dramatic declines raised new worries about whether consumers will cut back further on spending, making it harder for the economy to mount a sustained rebound.
“The Federal Reserve said yesterday that total borrowing dropped by $ 17.5 billion in November, a much bigger decline than the $ 5 billion decrease economists had expected.
“Americans are borrowing less for a number of reasons. They remain fearful about their job prospects and they are also trying to replenish depleted investments. The government reported yesterday that employers cut an additional 85,000 jobs in December, bringing total job losses to more than 7.2 million since the recession began in December 2007.”
These stories out of Washington are not just diversionary, they’re outright fabrications. Structured in this way, the above report blames the “consumers” for this “recession”. If we cut back further on spending, you see, it will just make the recovery more difficult. We’re the greedy ones. We’re saving all our money instead of spending it, they’ve been telling us. And total borrowing dropped by $ 17.5 billion instead of “the $ 5 billion decrease the economists expected”. How selfish of us.
But those shadowy, know-it-all “economists” never get anything right. Do you suppose they could:
– … tell us how to borrow money from banks that have locked us out?
– … or tell us how to invest in Wall Street’s Ponzi set up without being ripped off?
– … or show employers how to avoid laying off 85,000 Americans next month?
– … or show President Obama how to create the 600,000 jobs he promised us?
Americans are not trying to replenish depleted investments because … there are no paychecks.
Americans are not spending for exactly the same reason … there are no paychecks.
Americans are not borrowing because lenders know that … there are no paychecks.
And this country is plunging into another Great Depression because … there are no paychecks.