Journabalism

October 22, 2009 in Media, television

Media coverage of the Balloon Boy incident follows in a long-standing tradition of bringing intensely personal, potentially deeply moving stories to a wide audience. In 1949, during TV’s earliest days, a little girl named Kathy Fiscus fell into a well. TV networks broadcast live-by-remote from the scene for 27 hours. The world watched with breath held and prayers recited, until heartbroken rescuers recovered her lifeless body.

A fictionalized version of the story was included in Woody Allen’s Radio Days, and a true-life deja vu of it, albeit with happier results, occurred in 1987 when Jessie McClure – then 18 months old – fell into a well but was rescued. Media coverage of the Balloon Boy tale was lightning quick, because the breaking story hadn’t yet ended. It gave TV news crews a massive ratings-bonanza boner because it would magnetize eyeballs to TV tubes: would the little boy die like Kathy Fiscus, or live like Jessie McClure?

As you know, the boy – appropriately named Falcon Heene – wasn’t even in the balloon and only two real stories emerged from this sorry spectacle. The first was the cautionary tale of a conniving douchebag huckster dad – a failed “reality” show freak – who foresaw fame and fortune materializing from the hoax he orchestrated. The second was that the media were suckered like a bunch of gullible rubes taken in by a carny sideshow con artist.

Cue the obligatory ex post facto media analysis about what truly constitutes real “news.” Far better that the same talking heads and media “experts” debate the true enigma: what constitutes “real” now that nothing is?

I Think She'd Like To Be On "Husband Swap"Media credulity should have been tweaked when it became almost instantly apparent the dad, Richard Heene, had subjected his family to the fish-outta-water TV “reality” series Wife Swap. Surely a man who’d do such a thing to loved ones – for a mere 20 grand – was capable of anything. When it transpired that he had a home movie of the liftoff, media should have smelled a massive rat

Larimer County Sheriff Jim Alderden was candid about having been hoaxed by the Heenes. They “put on a very good show for us, and we bought it.” Alderden didn’t really have much choice, though. Law enforcement – with actual responsibilities to save lives, if possible – has no option but to pursue this type of matter, even if it may have seemed fishy. To have done otherwise in this instance would be to all but invite the death of a six year old boy without lifting a finger to stop it.

Most "real" when turned off....Modern media, however, have a series of choices in such events, as no lives hang in the balance contingent upon their decisions. When a desire to rack up ratings supersedes all ethical obligations, the rage to be the first, with the best video footage, becomes paramount, actual facts and real truth taking the hindmost.

We, the consumers of modern media, cannot pretend to be shocked or appalled by such self-interest masquerading as news gathering for the common good, for modern media have long since given up all pretense of performing that role. We now know – what in hindsight we should have known in our bones at the time – that the same media that swallowed whole the most egregious Bush junta lies about the necessity for war in Iraq – without question or comment for fear of being labeled disloyal by that junta – has no integrity, character or quality that trumps its own self-interest.

Really defining "newsworthy"We live in an age when print media teeter on the brink of financial ruin, and TV news readers are merely hopped up bingo callers with ever-waning audiences. Media “experts” and analysts ponder the issue as though it were an enigma. Do climbing costs and shrinking revenues doom news reporting? Are the youth too attention-span-challenged to follow a one minute TV report or a quarter page news piece?

Were they in any substantive way truthful, they would admit the obvious, which is the real reason for their decline: they have as much integrity and credibility as Richard Heene. They are hucksters and frauds, more concerned with their own selfish agenda than serving the commonweal they pretend is paramount, but to which they condescend with unconcealed contempt. And contempt is precisely the word, because the audience is presumed to be so dull and uninformed that it cannot tell the difference between truth, or its next of kin, and agenda-driven infomercials trick-or-treating as impartial newscasting.

"Most Trusted" For A Reason.....How else can one rationalize the real news: that Jon Stewart and Stephen Colbert are the single greatest source of news information for a growing demographic that has given up on MSM coverage almost entirely? What a topsy turvy world this has become, when self-admittedly “fake” newscasters have more sway with the public than those cloistered, overpaid egotists who pretend to be the “real” deal, yet are just as false as Stewart and Colbert. But without the fortitude to recognize it, let alone admit it.

A couple of Ashton Kutcher wannabes recently punked the national media by forging a press release that claimed the US Chamber of Commerce – composed of business groups determined to stall all meaningful climate change legislation – had changed its mind and was now foursquare onside in the fight against corporate pollution. Such a drastic sea change should have led inquiring minds to ponder the bona fides of this news, yet venerable news outlets Reuters and CNBC ran the hoax without even the most basic fact-checking.

Cheerleaders for a cheerleaderThe White House recently called out FOX News as being little more than the research wing, or communications wing, of the GOP. More “stenographers-for-rent” than actual journalists under the Bush junta, FOX has sicced its big dogs on all things Obama, leading to arguably lamentable resignations, by perhaps decent people, from roles and positions likely of little significance. With a transparent desire to thwart anything and everything Obama does, FOX is now seen by the Oval Office as its prime media enemy. All parties should rejoice. FOX viewers will harden in their belief the network is the last bastion of sanity fighting to preserve a nation under threat, which is the only thing FOX has to sell.

With professional GOP flimflamming like Karl Rove on the payroll, FOX is the dependable platform for today’s Tokyo Rose and Lord HawHaw. As it masquerades as the uber-patriot force behind a subversive journalistic elite, many on FOX daily undermine in the gullible their confidence in the very institution they all deem infallible and ever-lasting, the US government. The most perfect form of government in the history of the world is being threatened by Obama’s secret socialism. Can the Chicken Littles who warn us of an impending, but imaginary doom really claim to be driven by a deep patriotism while they distract us from far more genuine threats? Al-Jazeera has nothing on FOX.

It does not matter that our looming doom is not “real” because that word no longer means “genuine.” The word has been rendered meaningless by misuse at the hands of the self-interested, and the fact that reality itself is now wholly unreal.

In journalism, we have a barrage of people who have brought disrepute to their profession by being caught out publicly doing what their colleagues do regularly without being detected. How much reporting is real, as in accurate and unbiased? Far less than the average news consumer would ever know.

  • http://wordsmoker.com/help/members-3/nefariousnewt/ NefariousNewt

    News is what Edward R. Murrow did; entertainment is what “news” organizations do now. Information is what Walter Cronkite provided us; hyperbole, prevarication, and babble is what the “news” organizations spew out.

    And that’s fine by the vast majority of Americans, who have been taught for years now, to let others do their thinking for them.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    If you want either to remember or understand for the first time what a real interview between a journalists and his subject sounds like, I highly recommend the BBC’s World Service.

    There was a vaguely golden mid-20th-century era when American journalists–at least the good ones–were adverse to their subjects, and the best outcome imaginable was catching an interviewee in a lie or an inconsistency.

    There have always been wormy fucks like Tim Russert and Cokie Roberts running around figuratively fellating their subjects and greedily accumulating Sally Quinn cocktail party invitations. There always will be. But it seems as though outside of blogs and the occasional–and ever more infrequent–balls-out interview by Rachel Maddow or Keith Olbermann, everyone is playing the suck-up game. Since when did journalists become such boot-licking milquetoasts?

  • http://wordsmoker.com/help/members-3/nefariousnewt/ NefariousNewt

    @LAWYERGAY: Rachel Maddow is my great hope for the future of journalism. I think she’s still getting used to the power of her position, but she has very Murrow-esque qualities in her interviews.

  • http://wordsmoker.com/help/members-3/fifi/ Fifi

    I don’t have Comedy Central, so I have to rely on Saturday Night Live for my news.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Note to self: Screenplay idea: Working title: “The Asshole.” A 20-something whip smart and well-connected Ivy League-type befriends all of the power players in Washington in order to lure them into BBC-type interviews, where real questions are asked. When he falls for his most valuable source, will our protagonist do the right thing? “Punk’d” meets “Face the Nation” meets “The Graduate.”

  • http://wordsmoker.com/help/members-3/shortsshortsshorts/ shortsshortsshorts

    I am going to share this with you people as a followup to this column. You may decide for yourself whether it is the most insane thing you have ever seen, or if its the most hilarious thing you have ever seen. There is no other explanation for it.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    SSS: There’s almost certainly a white paper out there, probably from the Hudson Institute or the Heritage Foundation, about how to motivate a largely ignorant and politically unsophisticated sub-part of the polity and manipulate it into rallying around some kind of regressive right-wing cause. This hypothetical “white paper” probably contains an outline of the article to which you’ve linked.

    Anything can be a wedge issue as long as you can make a certain group of people–the more desperate and angry the better–believe that there is a causal relationship between 1) what that particular group of people fears most, and 2) what “they”–usually faggots, dykes, “coastal elites,” latte drinkers, volvo drivers, “Washington,” Democrats, liberals, women, racial and ethnic minorities, Catholics, Jews, and/or the whole lot of them–supposedly want to do.

    For right-wing political purposes, the really elegant sleight-of-hand involves slipping a little “mickey” into whatever particular hate cocktail you happen to be serving up. For instance, when it comes to protecting health insurance companies from regulation, the mickey in the cocktail goes something like, “regulating insurance companies is bad,” while the cocktail of “black Muslim illegitimate president wants to reverse-enslave you” goes down so very sweetly. Don’t you want another?

    My point is that, embedded in these hate-filled screeds designed to agitate and appeal to slipping middle class whites and the utterly forsaken class of working people of all ethnic stripes in this country, is a completely alien and non-sequiturial message, such as “regulating insurance companies is bad,” that serves the very interests for which “think tanks” like the Heritage Foundation and the Hudson Institute work.

    Those think tanks work for the rich and the establishment. The irony of the Tea Bag movement is that it has been yoked to an establishmentarian agenda, i.e., protecting moneyed interests, rather than to real grass-roots and populist political action.

  • http://wordsmoker.com/help/members-3/shortsshortsshorts/ shortsshortsshorts

    @Lawyergay: So what you’re saying is that “their all whores?”

    I absolutely 100% couldn’t agree with you more. Whores. The lot of them.

  • http://wordsmoker.com/help/members-3/voxpopuli/ VoxPopuli

    Another factor that is accelerating the deterioration of American journalism is that media companies are both spreading their staffs way too thin and laying off more experienced staffers to be replaced by less experienced ones. And now the newbies are left to their own green insticts because of a lot of their potential mentors are gone or too overworked to really help them.

    Yeah, I was a newbie once too, but at least I didn’t have the responsibilities that a new journo is thrown into now that media companies are doing more with less. I had more of a safety net until I really got my skills and insticts sorted out.

    I hate the balloon boy story, but the truth is that people will read about it and it makes money. TV is a big part of the problem too, because once the visual hits TV, people lock in and want to know more, even if it’s a likely hoax.

    As for the chamber of commerce story, I can’t believe that no one at those media companies followed up with at least a phone call to confirm since it was such a huge change in the chamber’s position. Again, lack of experience – you get what you pay for.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Vox: Please help me flesh out my screenplay, supra.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LG: This particular subset from your list:

    ‘“coastal elites,” latte drinkers, volvo drivers, “Washington,” Democrats, liberals…’

    kind of reminds me of this list: neo-cons, wingnuts, birthers, tea baggers, flat earthers, the Religious Right and gun nuts. It would appear that playing on the fear of people and then slapping a causal relationship, wrapped in a colorful name, is not entirely the property of conservatives.

    As far as the racial and cultural epitaphs that you listed, I don’t have an equal comparison. I will be honest. Politically, I don’t believe that your side plays that way. There does seem to be some sort of stab at Christianity coming from the left, but a lot of what Christians are referring to as “attacks” are really the result of knowledge and justice. Creation and intelligent design should not be taught in a science class. If we are going to have a legal definition of marriage, it should be all inclusive. If people of religion want to see this as an attack, then so be it. In my humble opinion, these moves by the left are entirely warranted and I support them.

    However, despite the fact that a few of my views are “left leaning,” I have been called a “flat earther” by people who I know that are less informed than me, because I have pointed out gaping holes in Anthropogenic Global Warming Theory (don’t worry, I am still relatively “green” in my behavior). I have also been accused of being a gun nut for suggesting that responsible people should legally carry the means with which to protect themselves. This is for the specific reason that I know the cops will NEVER get to you in time. Incidentally, even if you think I’m a complete idiot, trust me on that.

    You guys are pretty good about not calling me a teabagger, so we’re cool on that account. I would point out that no matter what the motives of those people are, they happen to have gotten it right. Obama’s acceleration of spending is dangerous and it is making us all poorer with the reckless devaluation of the dollar. By the way, Recovery.gov changed their embarrassing map on the front page. You no longer see a breakdown of the stimulus money when you log in. They have added “Jobs Created” box. 30,383 since February. That averages to a little over 600 per state. Yay!

    I got off on a tangent. I don’t disagree with what you are saying necessarily, Lawyergay. I just feel that your response was a bit biased. So was mine, but someone has to make sure that the other point of view is covered.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chillbear: You realize that without Obama’s “dangerous” stimulus, we’d almost certainly be in a full-blown depression right now, as would the rest of the world?

    And where exactly did you get this idea that the devaluation of the dollar is making us all poorer? Kudlow? How many gorditas can you buy at Taco Bell today for a buck? How many could you buy a year ago? If anything, we’ve got a deflation problem on our hands right now, not inflation.

    At some point–probably not now, and maybe not anytime soon–you’re going to realize that you’re being played just like the rest of us. The real divide in this country isn’t cultural or even political. It’s socioeconomic: the top 1 percenters who are never, ever going to be satisfied with their material wealth v. everyone else.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LawyerGay:

    ” You realize that without Obama’s “dangerous” stimulus, we’d almost certainly be in a full-blown depression right now, as would the rest of the world?”

    Outside of Democratic Party politicians, I haven’t heard anyone with any credibility maintain this position. Read Recovery.org. 33,000 jobs created and only about 25% of the “stimulus” spent after eight months. What averted the depression was the TARP, which was a Bush bill which Obama did support.

    It’s a basic economic principle that as you that as you flood the market with your currency, which is what occurs when you borrow money to support deficit spending you reduce its value. So the $1000 I had in the bank has less purchasing power than it did before the dilution. My money is then worth less. This is not going to be as noticeable in gorditas as it it is in imports. A year ago, if I gave $50 to Wordsmoker (had it existed at that time) I would have been giving Virus about 40 euros. Now my $50 donation gets him about 33 euros. By the way, donate to Wordsmoker. You see where I’m going with this. My dollars are turning to crap. Here’s a helpful chart that actually shows the Euro’s climb vs. the dollar:

    http://moneycentral.msn.com/investor/charts/chartdl.aspx?PT=7&showchartbt=Redraw+chart&compsyms=&D4=1&DD=1&D5=0&DCS=2&MA0=0&MA1=0&CF=0&D7=&D6=&symbol=%2FEURUS&nocookie=1&SZ=0

    When I wrote that I forgot that Virus buys Pounds Sterling for our dollars. The story there is not quite as dismal. The same $50 bought 31 pounds a year ago and 30 today, but it bought pounds the week that Obama took office. So I guess the British currency sucks as well.

    In conclusion, I’m firmly implanted in the middle class. I will let you know when I have my epiphany.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @All: God, I bore myself. Sorry guys.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chilli: Here’s a Nobel prize-winning economist speaking in today’s NYT about this very issue: “Although there has been a lot of doomsaying about the falling dollar, that decline is actually both natural and desirable. America needs a weaker dollar to help reduce its trade deficit, and it’s getting that weaker dollar as nervous investors, who flocked into the presumed safety of U.S. debt at the peak of the crisis, have started putting their money to work elsewhere.”

    Unless you do a lot of foreign currency buying or are planning a trip abroad, I don’t see how a falling dollar is actually anything but good for you. Wordsmoker donations aside, that is.

    “Illegitimate black Muslim president is ‘printing money’ (probably to buy more blowjobs and drugs!) in order to make us poor!”

    This classic essay is also fascinating.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @Lg:

    Well played, but what I said is that there is no one with credibility who is taking the position that the Obama “stimulus” package was responsible for avoiding a depression. For the moment, I will pretend that I think that Krugman is anything but a partisan hack who was awarded the Nobel because he validates the Swedes with his Keynesian, “let the Fed run everything” swill. Wait. I said I would pretend. Sorry. Okay, Krugman’s point is valid, but it’s not about the stimulus package. Where would you guys be without Krugman to validate your whacky economic theories?

    A weak dollar helps US exports in that the other countries find what we have to be cheap. However, this country has been running a significant trade deficit for decades. This is largely due to our dependance on foreign oil, but we buy a lot of things from other countries. Although a weak dollar does encourage people buying our stuff, it also means that more of our dollars go out to other countries, because the greater side of the imbalance is caused by our importing. By the way, the dollar has been falling for about six years. When is it going to fall enough for Kruggy?

    By the way, a weak dollar effects the price of anything that requires energy to get from point A to point B. So unless you don’t really go anywhere more than a few miles away, grow your own food in the yard, forgo the use of hygienic products, sit in the dark and own no electronic devices a weak dollar does effect what you buy. Not to mention, I am a snob when it comes to beer and wine. I’m partial to Boddingtons and Italian and Iberian reds. You don’t think that I’m not paying dearly for this?

    By the way, I forgot to thank you in the last post for the Chillbear. It’s like I’m Chill to the power of bear. Bad ass.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chillbear: Well, here’s someone with credibility saying this.

    You’re not entitled to undermine Krugman as a partisan hack–one of my favorite epithets, BTW–until you can come up with your own legitimate source who claims that the stimulus has functioned other than how I’ve described it. Who have you got in your stable? Mensa member Michelle Malkin? Mega-billionaire market sage Larry Kudlow?

    Krugman is certainly a liberal, but he won the Nobel for his apolitical revision of a key theory of international trade.

    Obama’s stimulus was designed to avert a full-blown depression. It has done that, but just barely. And while the money may not be working the way everyone wants it to, the money was necessary to support employment. The stimulus will create new jobs eventually; if it had been about 50 percent bigger, around $1.2 trillion or so, and contained fewer tax cuts, it would be working much better now.

    I think you’re focusing on the wrong metric when you attack the Obama stimulus. There’s a difference between creating new jobs and keeping existing ones. The stimulus has almost certainly done the latter exceedingly well.

    Without the stimulus, there would have been massive public-sector layoffs at the state level: teachers, police officers and firefighters, state executive branch professionals, the elimination of state infrastructure projects. Yes, there have been state-level layoffs, but it’s not nearly as bad as it would have been (except in California, which is a disaster that deserves its own WS post) without the stimulus.

    My point earlier was that you and I are ultimately on the same side here. Our economy has been brutally gang-fucked by a cadre of hyperwealthy policymakers and banker-gangsters who don’t give a fuck about you, me, or the rest of the middle class. Believe me, I know. And, unfortunately, that’s because I know some of these people personally from my time on Wall Street. These people are their bonuses. And they will treat any threat to their continued accumulation of hyperwealth on the backs of working and middle class people as an existential one.

    How do you feel about your taxpayer TARP dollars being used to lobby the Congress to defeat the most basic consumer-oriented reforms of credit card companies, for instance?

    That you and I are trading verbal jabs on an obscure website is exactly what they want.

  • http://wordsmoker.com/help/members-3/renesance/ Rene Sance

    @LG: Hey now! Watch that “obscure website” stuff there, Skippy!

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Rene: Did I say “obscure”? I meant “obscene.”

  • http://wordsmoker.com kneetoe

    @LG, Rene: Obtuse?

  • http://wordsmoker.com/help/members-3/nefariousnewt/ NefariousNewt

    @KNEETOE: Oblong.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    LawyerGay: You realize that these subscripts and superscripts are probably going to break the internet again.

    Is the Administration’s website not enough of a credible source for you? Today the site reports that $116 billion dollars has been spent after eight months. That is a drop in the bucket. Do I have to produce an expert if I mention that wheels are round. What’s even funnier is that website claims that $116 billion is 23% of the total stimulus. 116 is 23% of 504. I thought that this stimulus was something like $800 billion. The Federal Government can’t even get basic math right one their website. Stipulate that only paying out $116 billion is insignificant. Stipulate damn you. Sorry. You must know by now how worked up I get over stimulus. Hence the name.

    I get your point that the Stimulus could have saved some jobs, but with only $116 billion of it being spent and 33k new jobs created, how many do you think it really saved? Certainly not the 3-4 million that they were forecasting. Stipulate da..sorry.

    By the way, I noticed that oil is back up to $80 per barrel. That’s partially the consequence of having a weak dollar.

  • http://wordsmoker.com kneetoe

    @Nef: Obnoxious, of course.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chillbear: I don’t think you’ve read my links, so all I’m going to say for the moment is that yes, you do need to cite something other than your own analysis to counter Krugman’s.

    I think you’re a bright guy, don’t get me wrong, but the last time I checked, Stockholm hasn’t placed a call to the Chillbear household to reward its innate economic brilliance.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LawyerGay: Okay. Touche. I didn’t read your links because I’m having an uncharacteristically busy day. Here’s what I think about the Nobels because I know you care. The Swedes (and sometimes the Norwegians) do care about what the candidates done have for Peace, Economics and Literature. Then they scan the field for a liberal biased and award the prize to an accomplished person whose ideology is also to the left of Lenin. The liberals can point to their champion as a Nobel laureate and the Vikings can claim that they have always selected the perfect candidate knowing that no one will ever care about those that didn’t win the prize.

    Because I am now drinking, I will probably err on the side of caution and not respond anymore tonight. However, I will read your links as soon as it is in our mutual best interest.

    Don’t read this is with any hostile tone. The only reason that I’m including this disclaimer is because I lack the proper judgment at the moment to tell if I’m being cheeky and fun or being douchy and hostile.

    Goodnight, comrade.

  • http://wordsmoker.com/help/members-3/perverseus/ perverseus

    Getting back to the media argument, Voxpopuli made a very good point. The state of journalism is in a bad way. I know, because I recently left a very successful (and long) career in journalism. Human resources at my former employer are stretched outrageously thin. In fact, they have had three layoffs this year alone, plus salary cuts, required days off without pay all summer, and they even stopped matching 401K contributions. Travel budgets have been slashed, too. Thankfully, I was able to leave on my own terms, but that company is a mess. At some point, you simply hit a point where your personnel simply cannot handle the quantity of work requested. Corners get cut. Things fall through the cracks. Quality suffers. And often the veterans are showed the door in an effort to reduce salaries.

    Understand also that no media organization or reporter is completely objective. If any reporter — and I mean ANY reporter — tells you they are completely unbiased, they are either lying to you or lying to themselves. Many “journalists” these days work diligently to forward an agenda. The reporting of others is simply impacted by their own experiences and viewpoint. And still others cater to advertisers. That said, I know there is still integrity in journalism today. Unfortunately, many of us who have it have moved to a more lucrative career in PR.

    As far as selecting stories to cover, media gatekeepers, particularly on TV, are all about the eyeballs. A story with video footage generally gets more airtime than a story without imagery. After all, TV news is a visual medium. Plus, media consumers are as much to blame here as the media outlets, because we have become a nation of stargazers and sensationalists. And let’s face it, filling a 30-minute national newscast back in the day when we only had three networks made it much easier to ignore “balloon bay” theatrics — but that 24-hour news wheel is always hungry. And it often chooses snacks over a real meal.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LG: Sorry, I’m getting tired of all the sup’s and sub’s. I’ve read your articles now. Nothing here has anything to do with the stimulus package. Krugman oversimplifies the idea that the Chinese dumping dollars might be good for us because it drives down the value of our currency. Falling currency in isolation leads to inflation, which is what Krugman is talking about. Our output becomes cheaper to other countries, but relatively speaking, a weakening dollar inflates the price of any input that we consume. I can’t site an expert to support this fact, because I can’t recall the name of my Economics 101 professor. I remember that it was a guy with glasses, but the idea that falling currency value leads to higher prices is such a fundamental idea, I don’t really know where to look to find someone who has written anything about it. I can cite examples, like the Weimar Republic:

    http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic

    where the currency devaluation would cause the price of bread to edge up daily.

    My frustration about your comments from the Stimulus Package comes from you saying:

    “You realize that without Obama’s “dangerous” stimulus, we’d almost certainly be in a full-blown depression right now, as would the rest of the world?”

    You cite no economists and then require me to provide experts to refute your speculative statement. I show you an example of the dollar vs. the Euro, but because I put the data together instead of an economist it is somehow not credible? By the way, despite the slick, used car salesman exterior, Kudlow is a credentialed economist, who often has other notable economists like Art Laffer and Robert Reich.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chill: This thread seems dead, but just in case it isn’t: I cited Krugman for that proposition that frustrated you so much. Here’s the link again. Here’s similar coverage from USA Today in case the HuffPo write-up is too liberal for you to stomach.

    The first line of that USAT article reads “Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Nobel Prize-winning economist Paul Krugman said Monday.”

    I’m not disputing your analysis. I just think your focus on dollar devaluation is a pseudo-intellectual veneer slapped over what is ultimately an illogical, fact-free and paranoid notion, specifically that our illegitimate black Muslim president is “printing money” to make us all poorer.

    I’m not claiming that you’ve done this on purpose, but your argument about dollar devaluation is typical of people who sit around stewing in FOXNews broadcasts and right-wing blogs all day. And, of course, no such argument would be complete without at least a passing reference to the Weimar Republic.

    I worked as a financial writer for a couple of years, and I quickly learned that Kudlow was an ignoramus. Here’s his wisdom on the housing bubble, for instance. And if you really believe that TARP and not the stimulus saved our economy, then you might be interested in this.

    More importantly, Kudlow is constantly bear-baiting his cretinous neocon demographic with ridiculous pronouncements about the “end of capitalism” and non-inflation-adjusted comparisons between the Obama stimulus and the New Deal. It’s just real lizard brain rat-fuck stuff. Talk about your partisan hacks.

    If you want to read someone really sharp who is actually working in finance, try Barry Ritholtz http://www.ritholtz.com/blog/.

  • http://wordsmoker.com/help/members-3/bigleggedwoman/ BigLeggedWoman

    Sweet Jesus, you guys! I was just reading this post and thinking about hoaxes from the 1930s (parallel to another depression) and then I had to slog through all THAT? I like how ChillSquare needs to educate the rest of us about political economics. Haha, yeah shopping carts — read that in the seventies, hmmmm.

    Whatever. I am hopping on the back of a harley to air out my head now.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LG: Okay, here is why we disagreed and it is my mostly my fault. Krugman’s statement was “Aggressive stimulus spending by governments…” Plural. I missed the plural. He didn’t come out and say that the US government participated in aggressive stimulus spending. That would be a ridiculously mischaracterization given the Recovery.org data that I keep throwing up. However, many of the other countries may have spent aggressively. The closest thing that I was able to find on the stimulus packages of other countries.

    http://online.wsj.com/article/SB123655587029066001.html

    My read on this is that Krugman is correct. The aggressive spending of other countries helped avert a possible depression. I don’t know how anyone can agree that what the US did in taking eight months to spend a quarter of the money is aggressive spending. This is conjecture, but I think that he was hoping that no one would call him on the fact that the US has spent so little that they shouldn’t be grouped in with the aggressive spenders. The US was more of an aggressive borrower/hoarder.

    Yeah, I know that the Weimar Republic example is a little played out, but I don’t have a lot of currency devaluation scenarios that I can throw out off of the top of my head.

    @BLW: A Harley? Yeah I rode one of those in the 70′s.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LG: Sorry, I didn’t get to the other two sites yet, but they are open on my browser.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chilli: Believe me, I’m not trying to twist the knife or bust your balls in any way, but I just looked at the euro-dollar chart you posted above and clicked on the 3-year lookback button. Here’s what I came up with.

    With that chart in your head, I would like to ask you:

    Were you freaking out about the devaluation of the dollar in July, 2008? In August? In September? Because that’s when our beloved greenback started tanking bigtime against the euro.

    And if you weren’t freaking out last summer, then why are you freaking out now? Where was Kudlow then? Where was Malkin? Where was FOXNews?

    You’re too smart for their manipulative hateful bullshit.

    It is one of my life’s goals to turn you into a raving liberal.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LG: I’m not even freaking out now. It takes a personal threat like someone telling me that it’s one of their life’s goals to turn me into a raving liberal. Having said that, I actually recognized that we were headed for a severe downturn in 2006 when my brother asked me if I wanted to get into real estate flipping with him. I will admit that I didn’t call all of the consequences, but I did get the catalyst correct. Let’s hang this one up. We’ve bored BLW and are probably taxing the new intern. I’ll just award us both the Iron Lung and a Nobel Prize for Economics next weekend.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chilli: What about becoming a raving liberal makes you freak out? That’s an interesting question for another time.

    But just for the record, we did not disagree in the above exchange because you supposedly “missed the plural” in “Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Nobel Prize-winning economist Paul Krugman said Monday.”

    You just can’t admit that you’re wrong.

    You were demonstrably wrong about quoting authorities, and you were and remain wrong in your ridiculous claim that the Obama stimulus is somehow “dangerous.”

    The only reason we disagree is because you’ve imbibed way too much FOXNews and Larry Kudlow to be even remotely credible on the issue of whether the Obama stimulus helped avert a great depression. There’s a difference between politics and economics.

    Clearly, it will take some courage for you to admit that.

    And yes, printing money devalues the dollar, just as creating additional shares of stock dilutes the current shareholders of any given corporation.

    But sometimes the government has to print and spend dollars in order to prop up the economy. You might have believed in the truth of the foregoing sentence when George W. Bush was president, but you’ll be good and goddamned if you’re going to accept this proposition when Barack Obama is president. It’s on you to figure out why that is.

    I fully agree that the Obama stimulus money hasn’t been spent fast enough, but these stimulus projects take some time. Give it a few months. The fact is that if the Obama stimulus had contained more on-the-ground money rather than the $275 billion in tax cuts that idiot and cynical Republicans had insisted on, then there would be more money circulating in our economy.

  • http://wordsmoker.com/help/members-3/chillbearlatrigue/ Chillbear Latrigue

    @LG: Here’s the part of your last post that was correct:

    “I fully agree that the Obama stimulus money hasn’t been spent fast enough, but these stimulus projects take some time.”

    Partially. Stimulus should not have slow developing projects. The rest of it was nonsense.

    What authorities did I quote? You show me where I’ve erred in my analysis. This President has accelerated the Bush Era deficit spending, which I wasn’t comfortable with, but have no way of proving since I only started blogging in 2009.

    I was also against corn ethanol before that became cool, but I do have an old e-mail archived to back that up. I attacked Bush’s spending from the right, the way you occasionally attack Obama from the left. I actually attacked Bush from the left at times as well. I’m complex.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Chilli: The source of our disagreement was whether the Obama stimulus was “dangerous.” You claimed it was; I claimed it wasn’t.

    I cited a Nobel Prize-winning economist who agreed with me; you cited a 12-month euro-dollar chart and an apparently hypothetical economics professor whose name you couldn’t remember who agreed with you.

    You lost.

    In other words, the Obama stimulus is not only not “dangerous,” it was and will be absolutely necessary to any kind of economic recovery the U.S. economy eventually experiences. Moreover, your “dollar devaluation” argument is simply window-dressing for a deeply paranoid and highly illogical critique of our first black president.

    Finally and most importantly, you are way too smart to be listening to FOXNews and Larry Kudlow when it comes to economics and, frankly, every other issue imaginable.

  • http://wordsmoker.com/help/members-3/bigleggedwoman/ BigLeggedWoman

    ChillSquare: we both know you are not old enough to have ridden a Harley in the 70s.

  • http://wordsmoker.com/help/members-3/lawyergay/ lawyergay

    Since this is the headline post right now, I thought it might be nice to consider the following:

    States Say Stimulus Money Helped Save Teaching Jobs

    Schools Are Where Stimulus Saved Jobs, New Data Show

    Report Says Stimulus Helped South Dakota Teachers, Workers

    Teachers Helped Most By Stimulus Act

    And just for the record, It’s not the libertarian or Republican or right-wing argument that I have a problem with.

    Believe me, there is a place for a libertarian approach to all manner of social issues, including our demented “War On Drugs,” our system of criminal justice and punishment, and all manner of personal regulation.

    No. What I DO have a problem with is the FACT-FREE nature of the right-wing critique of government. The fact is that government spending works. Food stamps help people feed their families; unemployment insurance allows people to survive during economic upheavals; government salaries allow us to hire great cops and firefighters and teachers and lawyers and accountants and managers of all professional stripes.

    Some “Libertarians” and right-wingers claim that they don’t want the government to tax anyone or anything or to spend money on anyone or anything. Ever. By its own terms, that’s a nihilist argument and a “Mad Max” worldview.

    But when you actually take a magnifying glass to the “libertarian” or right-wing critique of government, what you inevitably discover is racism, sexism, religious chauvinism, homophobia, nativism, jingoism, and, of course, pure T ignorance.

    There are a lot of people in this country who can’t stand the success of the civil rights movement. There are many people in this country who never got over the Civil fucking War. There are too many people in this country who don’t really understand the “We” in the preamble to the U.S. Constitution.

    But that “We” means something. It means we’re all in this together, for better or for worse.