The U.S. media has taken its propaganda game to stunning levels. The reason is that the majority of the population – at the least the majority of those who even bother to make an attempt at staying apprised of current events – will believe anything it reads in the newspapers or hears/sees on on tv. Put it on an CNN and it’s true (Note: CNN and MSBC are inter-changeable).
There’s a pathetic core viewership for Fox News and CNN, respectively, who manically lap up the drivel fed to them by those two networks. For those audiences, anything a show host or guest on either those two channels asserts is received as “The Word.”
Ironically, if you remove the Christian proselytizing from Fox, you get CNN/MSNBC. Sometime in the latter years of the Bush 2 Government, I believe in sympathy with the incessant promulgation of pro-military propaganda (CNN Headline News is now similar to a State radio broadcast from the Third Reich), the previously left-leaning CNN and MSNBC transformed into Neoconservative yellow journalism soundboards.
Lost in transmission on those to networks is the fact that, contrary to his impassioned campaign promises in 2008, Obama’s Government has become an international Department of Defense-sponsored killing machine. But “this just in,” those “wars on terror” being fought all over the globe are technically illegal.
I saw a news item in CNN this morning which reported that the military officials who were polled preferred Hillary Clinton over Trump. That was no surprise to me. Lurking beneath her phony smile and the circus tents fashioned into dresses which attempt to hide her growing obesity (but can’t hide her cankles) is a crazed war-monger. Her true posture on war makes Hitler look like a pacifist. But those are facts conveniently left out of the media’s narrative.
Turning to China, the media reporting on China’s economic and financial condition is nothing less than stunningly fraudulent. The “Economist” has predicted economic doom in China fifty-seven times in the last couple of years. In perusing the business news reports, one would get the impression that China’s debt problems dwarf that of the United States. But nothing could be further from the facts.
China’s sovereign-issued debt is $5.4 trillion – or about 50% of its GDP. The U.S. Government debt outstanding is $19 trillion – or 107% of GDP. Government plus private sector debt in China is roughly 260% of GDP (Govt + corporate). Note that in China the citizenry does not have debt but they do have a 50% savings rate. At last glance, total private sector plus Government debt in the U.S. is 340% of GDP. These debt numbers that do not include the underfunded pension problem in the U.S., which adds about another 10% to the total debt outstanding.
One last point worth mentioning. China’s Government “balance sheet” includes about $3.4 trillion in currency reserves, not including its gold holdings. The U.S. “balance sheet” has about $38 billion in currency reserves and likely does not own any gold. The citizens in China use a significant portion of their savings to buy gold and silver. U.S. citizens largely own big credit card and auto loan balances and no gold or silver.
The Shadow of Truth hosted Jeff “our eyes and ears on the ground in Beijing” Brown for discussion about what is really transpiring currently in China economically. You will find some very interesting, if not stunning revelations, in what Jeff has to report.