Jeff Nielson: The Corporate media is consistent in one (and only one) respect. It continually engages in self-contradiction. Month after month; these propagandists will assert again and again that “2 + 2 = 5”, and then we will wake up one morning to hear the same pundits assure us that actually “2 + 2 = 3”.
This is the byproduct of serial lying. With any person/entity which spews enormous quantities of lies; it is logically inevitable that many of the newer lies will contradict many of the older lies. The latest example of this concerns the economic dynamic known as deflation.
Those who regularly follow the fiction of the mainstream media will be familiar with its hysterical hyperbole concerning deflation: it is (according to these Liars) “the most destructive economic condition of all”. It is a lie universally parroted throughout the Corporate media…until now.
Indeed, because this lie has been repeated to the point where it is now accepted by the mainstream media (perversely) as a basic truth; it is the foundation for a newer lie – also universally parroted – that inflation in our economies is “too low”. Then based upon that lie; the propagandists have invented yet another buzzword of deceit: “lowflation”.
Regular readers understand the absolute perversity of all of this propaganda, which was thoroughly debunked in a previous commentary. To summarize the basic, economic truths from that previous piece:
– Inflation (in virtually every form) is an unequivocal economic evil, thus it is logically and economically impossible for inflation to ever be “too low”
– Deflation is (in reality) the most virtuous of all economic dynamics
To understand the latter (and more important) of those two truths requires an analogy. With respect to alcoholism (or any form of binge-drinking); the “cure” for such self-destructive behavior is universally recognized: abstinence.
It is further universally recognized that such abstinence will produce “a hang-over”. It is also universally recognized that the longer one postpones abstinence (through continuing the alcoholism/binge-drinking), the worse will be the hangover. Finally, it is universally recognized that (because of those previous truths)abstinence can never be avoided.
Because the money-printing and debt-creation has never been more-excessive in our history; the “hang-over” (from purging these excesses) has never been as bad as what we are facing today. Because the money-printing and debt-creation has never been more excessive in our history; the need for deflation has never been as great.
This is what makes the relentless anti-deflation propaganda so despicable. It is nothing more than the self-denial of the alcoholic. Such grossly excessive money-printing and grossly excessive debt-creation (supposedly) makes us “feel good” today, so we should simply continue this reckless behavior forever — all the way to our (economic) grave.
Yet after years of uttering the lie that “deflation” is the ultimate Economic Boogeyman, today we have the nerve-center for all economic propaganda (Bloomberg News) telling us that deflation can be “bad” or“good”:
U.S. Gains From Good Deflation as Europe Faces the Bad Stuff
Put aside, for the moment, the utterly juvenile and facile habit of the American media of labeling everything being said-and-done inside the U.S. as “good”, and everything said-and-done outside the U.S. as “bad”. The economic ramifications of this massive self-contradiction go to the heart of all of the mainstream media’s economic propaganda.