If US had functional media people would have know before it happened petrol was cause of 07 crash

The sponsored media told people the 07 crash was because of loans to poor people. So in essence the crash was because the poor weren’t pulling their weight. In essence the people were to blame they weren’t working hard enough.

Reality was that the crash was because of derivatives which were insuring against another petrol crash, insuring petrol because its prone to failure and catastrophic crashes and it crashed again triggering a derivatives collapse which in turn collapsed the financial system. The economics of petrol are so bad over such low economic efficiency that derivative debt is blind debt, you aren’t allowed to see into it (laws don’t let you audit the shit) because no one would insure it if they knew how bad it was. So naturally layer after layer of insurance piles on top of blind debt because you can’t estimate the actual risk.

But we know the risk now and have for a very long time. Petrol with its ultral low unsustainable economic efficiency (even before the externalities costs) will hollow out and sink the world. They use wars as diversions as much as bailouts.

The public doesn’t know this stuff but it needs to. A functional media would have prevented the 07 collapse and can prevent the next one. But instead going 1000 mph in the wrong direction they want to kill net neutrality. They used quasi private sector Face Book to cover their domestic spying, now they want to hide behind the same private sector entities they put a hook in with spying to allow direct censorship. But you have people like Marc Cuban saying its the opposite that thosand miles in the wrong direction is the right direction on speech. He/they are trying to argue that censorhip is free speech.

3 Likes