Posted by
Icarus on Tuesday, September 30, 2008 7:36:32 PM
According to Forbes, a Treasury Department Spokeswoman has declared that the $700 Billion dollar figure that's been attached to the current crisis ... well,
they just made it up. They have no idea what the pricetag should be.
And
EVEYRONE in the media, and I mean everyone - talk radio, newspapers, network and cable television - is using it to scare the beejeesus out of the masses.
Listening to Hugh Hewitt's broadcast from Monday, 9/29, was like listening to a replay of the Hindenberg disaster but with anger replacing grief. At one point he said the market closed more then 700 points down. That was a lie. At one point the market was down over 700 points, but it closed about 570 points down. Furthermore, when a female caller asks him where the $700 billion figure came from he responded with "What happens if [your huband] loses his job?" and "It's like if you have cancer and you refuse chemotherapy. You're going to die!"
And what does the Dow Jones do after yesterday's "distaster"?
Something about all this just doesn' t sit right with me. And a lot of that has to do with the panic the media is fostering.
HT: to
JohnFN at threedonia.com, via LGF, via LATimes.