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The Washington beltway has become a welfare state...a "company town" in many ways. If you become a "pundit", you always can find someone who will throw money at you...be it a network or newspaper or magazine or blog. Many see the economy only in their monthly statements...not having to worry about paying rents or balancing enough month at the end of the paycheck. They also travel in a world that is insulated and isolated...big money players who dominate the media in both ownership and influence. The support of Gramps by many still in the beltway media points to that provincial nature...and how detached they are to what's really happening on the "Main Street" they claim they represent.
The media itself is in a downward spiral financially...as the recession and stagflation bite, so does the money companies have to advertise. The collapse of the dot com boom was a big hit on media that sucked up all that money and now they're taking a hit again as the Di-Techs and mortgage lenders along with the big banks no longer are throwing money at them. The money is temporarily being replaced by the huge money being donated and spent on this election (much going to the large media conglomerates)...but they're looking at an abyss as well.
If consumer spending tanks in the fourth quarter (which I predict will be the case), we'll be looking at a real world of hurt come January as more stores close, more people lose jobs and consumer spending...the real engine of this economy...slows down to a trickle. Add increasing prices and the on-going debt crisis, things won't be getting any better. Forget any type of loan or money to grow...and, honestly, I don't see a "quick fix" to the slide...until the debt bomb of the past 25 years finally plays out.
People have woken up, but there's little many feel they can do...especially the middle and low class. Where do they express their anger? On the corporate media? On hate radio? We see it here on the "internets", but there's many more who suffer silently. My hopes are they do let their voices be heard on November 4th...and it's our job to make sure their voices are heard and counted.
Cheers...
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