CNN, Cable News Network, once an innovative and reality based fresh approach to delivering news content to Americans, has, sadly, morphed into some cartoon caricature of its former self.
Now, instead of relying on hard work and integrity, CNN relies on empty and foolish sloganeering and ridiculously ignorant and foolish "experts" like Glenn Beck....
Go watch this 4 minute embarrassment...if you can stomach it.
Briefly....Glenny suggests we shouldn't be so depressed that Big Oil is setting new record profits while Americans pay record prices at the pump....no, no,....we should be excited because after all, Big Oil stocks are in your 401K or retirement fund or in your closet or somewhere and see?....that's a benefit. Because your "average person" 401K moved up, or maybe not, huge record breaking profits by Big Oil are a good thing.
No mention by the brilliant Beck about the tens of millions of non "average" persons who don't have a 401K and, yet, are still paying over $3 a gallon for gasoline.
Glenn Beck, surely embarassing Ted Turner somewhere out there, when asked about the larger inflationary implications of, you know, high fuel costs.....answers by asking his own question about when we're going to go after Big Milk or Big Egg. Quite the comeback, I must say.
"Everybody likes farmers", says the CNN buffoon, and that's the reason why those commies running Congress won't confront Big Milk or Big Egg.
The Reverend has had a discussion or two with people, like Glenny here, who want to compare Big Oil prices to Big Milk or Big Egg prices.
When Big Oil raises it's product 26% in one year, every business that produces or supplies anything sees their expenses increase. In order to maintain their existing profit margins while taking this 26% higher fuel hit....they must raise prices or cut costs elsewhere. While companies may not want to raise prices, for fear of losing customers, they really have no choice if the fuel costs remain high, like they have recently.
This dynamic, and I know this is obvious, causes inflation. Makes everybody's money worth less.
Does every business that produces or makes anything see their expense budgets increase when Big Milk or Big Egg increases their products' prices by 26% and 40% respectively in one year? It's not rhetorical.....do they? Of course not. It's freakin' ridiculous.....it's typical of what passes for insightful punditry today on the once great CNN.
In addition, the higher costs of grain to feed cows and chickens, as Glenny correctly points out, can be tied, at least somewhat, to the government's ethanol initiative. What Beck fails to include in his bloviations, however, is the fact that the ethanol initiative was brought on by....wait for it.....high gasoline prices.
The jewel of the clip by Beck of CNN is his "asteroid theory". Lumping all the domestic entitlement programs together, Glenn Beck seeks to scare those old timers out there, yet again, by suggesting this financial "asteroid" is going to hit us in 2017-2018 and, I guess, a bunch of stuff is gonna' go flying all over the place.
Granted, health care costs are up universally and so Medicare and Medicaid costs are as well. Work needs to be done to drive those costs down. Obama has suggested several methods of doing just that....but to include Social Security in on this fantasy economic "asteroid" strike is pure ignorance or worse. Social Security is on firm footing for a good long time, unless of course the U.S. government starts refusing to honor, in full faith, their own Treasury Bonds. If that happens, it won't matter anyway, we'll all be effed.
It's very sad. Sad to see the once refreshing and innovative CNN turn their pundit time over to such right wing propagandists. Propagandists telling us Big Oil and their Big Record Profits are really kind of a good thing for us, no really. Propagandists for the GOP's wealthy base telling us that popular domestic programs, programs for all Americans, need to be dismantled because they just cost too much.
Republican talking points from The Most Trusted Name In News.
Ted Turner must be ashamed.
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