Somehow I ended up getting a subscription to Time. Maybe because the magazine gods know I subscribe to dozens already, they thought I would like Time. I do, but not for good reasons. It’s an insipid rag that is turning hard right in an effort to keep up with the rabid teabaggers of flyover land. Reading it thus gives me a chance to see how the fancy pants editors in New York view the rest of the country.
Here’s an example. Below, this one page of info graphs gives one the impression that all is well and in fact it’s getting better. (Click for high rez version)
The main story says that the country’s unpayable debt might not be so bad if we could just crank up the economic growth engine again. Why growth can even exceed estimates and that would just be dandy. That nasty old deficit will be thing of the past with 3.9% growth over the next 10 years. (Just for the record, the law of exponential numbers says that growth rate would mean that the US economy would double in 17.9 years. So, if we grow at 3.9% a year, as Time says “if we’re lucky”, then by the year 2029, our economy will be twice as large as it is today. Does anyone really believe this?)
The next largest story has to do with the raging stock market” Up, Up and Away. The bull market you didnt know you were in.” Wake up boobs! Why, its up 97% in the last two years! Its time to invest again!
But the blurb does mention that all the fun may end if inflation “starts to bite.”
Ah….here’s where it all comes together. See, on this one page we’ve been told that growth will solve all our problems and that you should be getting into the stock market so you dont miss out. Bu the tiny little piece in the bottom corner is like the proverbial turd in the fruit salad. It says “Gas on the Rise. Presummer prices are spiking.”
This one little note, tucked away, gives the lie to the BS on the rest of the page. Rising energy prices kill growth and spur inflation. We’re not going to grow our way out of our debt problems. We’re not going to have a never ending rally in stocks. You can thank peak oil for that.
But it sure seems to me that the folks at Time should have been a little more thoughtful than to put such incongruous messages on the same page. Had they bothered to read it they would have seen that the little piece on spiking oil prices contradicted everything else on the entire page. But I guess we can’t expect too much from our elite media over-lords. After all, they are the products of the American educational system too.