The Media and the Gameshow of Doom

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Over the past several years, I’ve noticed that “existential” crises seem to be identified with ever increasing velocity. These crises are proffered by the media, telling me that my lifestyle, my financial security, my family, my own very personal (important-to-me) existence, and even America itself, are all under threat.

Is it just my imagination? Are these things really happening? In the deal-making of life did we really, somehow bargain ourselves into these kinds of choices? If we did, who in blazes did we bargain with?

Or maybe this is just some kind of evil, chardonnay-laced, game-show dream induced by a media constantly obsessed with chasing clicks/eyeballs; a dream that I’ll wake up from just as soon as I hear the next sonorous stutter of “C’mon man”?

Some examples for you to consider as I gently drift off. Hazily, closing in on deep slumber, I see door number one approaching:

“Left-wing HBO host Bill Maher slammed the ‘never ending woke competition’ that is engulfing America, warning that it has turned Americans into a ‘silly people’ and that China is ‘eating our lunch’ as a result,” read a recent article in The Daily Wire. “Maher said that while China is dominating in seemingly every arena that they enter, America is struggling because ‘half the country’s having a never ending woke competition deciding whether Mr. Potato Head has a d*ck” while others believe in conspiracy theories.'”

“We’re not losing to China. We lost,” Maher added. “The returns just haven’t all come in yet.” (China, the threat behind door number one).

Even more quickly, I am confronted with that ever-present, ever-evolving danger to national security, climate change (the threat behind door number two):

From our friends in media at The Hill: a March 9 memo to senior Pentagon leadership announcing the formation of a “Climate Change Working Group,” Defense Secretary Lloyd Austin III wrote, “Climate change presents a growing threat to U.S. national security interests and defense objectives. The changing climate is altering the global security and operating environments, impacting our missions, plans and installations.” (Seriously, Lloyd three sticks, a climate change working group?)

Wow, is there anything more threatening to the American way of life than global warming global cooling climate change?

Before I could react to the weather, rampant inflation got pushed right in my face (good ole’ door number three).

From a MarketWatch  article: Paul Tudor Jones calls inflation ‘biggest threat’ to markets and ‘society in general’.

‘The No. 1 issue facing Main Street investors is inflation, and it’s pretty clear to me that inflation is not transitory. It’s probably the single biggest threat to, certainly, financial markets and again probably I think to society just in general.’

— Paul Tudor Jones, Tudor Investment Corp.

Jones said the demand side of the equation, which is “$3.5 trillion greater than it normally would be” is “just sitting in liquid deposits that can go into stocks or crypto or real estate or can be consumed…It’s waiting to be utilized, which is why inflation will not be transitory.”

A large cost-of-living increase for Social Security recipients as well as the military will be “more fuel to the inflationary fire,” he said. Meanwhile, rising wage pressures will be another driver as the economy faces structural issues that won’t be resolved by low interest rates or quantitative easing.

Finally, a Kitco News interview of Adrian Day, president of Adrian Day Asset Management.

Day noted that the rise in nominal 10-year yields would soon take its toll on the U.S. economy.

Day added that the U.S. central bank could not afford to raise interest rates or let bond yields rise much higher because of the growing government debt.

“If you look at the federal government today, only about 10% of federal receipts are going to interest payments. That’s the lowest rates in history,” he said. “If the 10-year yield goes to say 2.5%, which is still low on a historical basis, those interest payments would more or less double. That’s not a good place to be.”

Wait, wait … doom to the left of me, doom to the right of me! Is impending doom my only choice? Dear Media, let me review your gameshow nightmare to see if I understand.

The Chinese are going to (or already do) own us; lock, stock and chop stick…

or 

Climate change will somehow attack and defeat the U.S. Military, leaving us standing on the only patch of land on the planet that hasn’t been engulfed by rising oceans (Epstein’s New Mexico ranch?)

or

Our collective lunch will be eaten by inflation, resulting from the out-of-control spending by the most out-of-control politicians ever assembled in the history of the not-so-free world.

Media’s voice: Richard Edward, go ahead and ask the folks which of the three doors they would choose to usher in America’s demise.

Richard Edward: Sure Mr. Media (media’s pronoun is assumed). Yes, fellow citizens, these wonderful choices are all YOURS. Where else but in the modern American society can you have these kinds of choices, and more? So, what will it be?

Door number one? A once in a lifetime opportunity to learn to speak Mandarin. Be sure and pack a small bag for your stay in the re-education wing at Chairman Mao’s Kung Pao camp. Oh, and you people of faith, leave your Bibles at home. … The camp will supply you with little red ones for your reading pleasure.

Door number two? Just think how good you’ll feel getting in shape by walking everywhere after fossil fuels are totally banned. And, speaking of getting healthy, you’ll marvel at how quickly you’ll get used to huddling for warmth and when you get your two square meters of dry land at the ranch; just think of all the possibilities.

And last, but certainly not least, door number three: America, pick this door and we’ll give you a bushel basket to hold all of those freshly printed federal reserve notes that you thought had value. But wait, there’s more. Not only do you get the basket. Pick this door and we’ll erase all the stored wealth in your bank accounts and 401Ks. Just think of the free time you’ll have not worrying about balancing your check book and those investment percentages in your retirement portfolios.

Then I hear a small, wavering voice in the distance, “C’mon man,” waking me from my slumber.

Sitting up now, soaked with fear. Whew, that was a gameshow dream I’d rather not have, ever again. Just think what would happen to us if any of it were true…

Is our media only interested in pushing fear, selling advertising from those resulting clicks and eyeballs of their sensational stories? Are they doing any diligence as to the truth of what is being reported? Are they covering up any ‘real issues’, the real causes and real effects, behind the stories?

Is it all really doom, or could there be just a smidge of hyperbole in their reporting? Are there any stories of hope, any sane presentations of solutions to the woes of our modern society? Who knows for sure?

One thing I do know; the current state of reportage’ in the US doesn’t inform much. Its intent appears only to be to spread fear and despair (oh yea, and sell advertising).

— Richard Edward Tracy

A version of this article appeared previously on the TheAmericanCrisis.org

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