Podcast 266

Rolling Stone’s Debacle. This weekend Rolling Stone Magazine admitted it did not properly fact-check a story about an alleged gang rape on the campus of the University of Virginia. So now we have a clear example of media bias in action and it goes way beyond fact checking. The editors liked the story, so they never pushed the reporter to interview the accused, or confirm the stories of the friends of the woman who claimed she was gang raped at a frat party. So, it took the Washington Post to go down to UVA and run down the particulars in the story. As this was going on, Rolling Stone defended its reporter, and anyone who questioned the woman’s story was pilloried. What did the Washington Post uncover? The discrepancies are so numerous, Rolling Stone had to issue an apology this weekend. ‘Narrative journalism’, combined with bias and shoddy editing is the order of the day in most of today’s news shops. Now the media, UVA, Fraternities, the alleged perpetrators, the victim, not to mention real cases of rape have all been thrown into question as the result of an editor and reporter, and magazine that did not do their job. And what can we say about the media? Charlatans, hustlers, think tank spokespersons, operatives are booked as guests on all the major news shows, round table shout fests, and empty suits abound. An informed populace/electorate is the one necessary ingredient for democracy, and we do not have it. America is being so poorly served by its so called media, its no wonder people cannot reason, don’t know the facts, scream and yell at each other, throw labels onto each other that are meaningless, and are deeply confused about how any process works, because they are uninformed. Who’s fault is it? What can be done about it? Have we reached the stage where the rule of the mob has become a reality? Unfortunately, it sure looks like it. Meanwhile, Mary Landrieu has lost her bid for a fourth term in the US Senate representing Louisiana, giving the GOP one more seat in the Senate, and an historic majority in the House. Wait until after January 7th for the fireworks to start when the 117th Congress is sworn in. The President has acid reflux, as does the rest of the country due to his policies. The media ballyhooed the latest unemployment numbers, but once you look under the hood, they don’t look so good. Surprise! We have yet to produce one month with over 375,000 new jobs, which is what the country needs to fully recover. It never ceases to amaze what the media thinks is ‘good’ versus what is factually needed. Sponsored by Baklund R&D. (Correction: I keep referring to the current congress as “the 116th Congress” in this podcast, and the next as the “117th Congress”. Getting a little ahead of myself; The current Congress is the 113th, and the incoming congress is the 114th.)

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Podcast 265

China Wins! Weekend updates start with the news that China has overtaken the US as the largest economy in the world. Except it’s not true. According to the IMF, using one measurement of economic magnitude, China has overtaken the US. Of course the US media jumps all over this story despite the fact that the measurement called PPP is controversial for many reasons. In fact China’s economy is considerably smaller and poorer than the US. However, it should be pointed out, when your neighbor is saying ‘things are better now’; if the US continues to have sub par growth (par in this case would be a normal dynamic growth of 4% or more for the same length of time as the recession), China will eventually overtake us. All the more reason to advocate growth policies focused on production, rather than trying to stimulate consumption. Protesters, variously reported as protesting the Ferguson Grand Jury decision and advocating for a higher minimum wage, blocked I35W just outside of the downtown Minneapolis. (Editor’s Note: The confusion in reporting got me talking about minimum wage, but the effect is the same. I don’t understand how making people angry because they sit in traffic for an hour makes them amenable to the cause, whatever that is.) The kinds of people who make more money are the people who develop time and productivity saving innovations, and figure out how to market them. Increasing wages by fiat won’t make anyone’s life better in the long run. Moreover, it’s possible in the short run, some fast food and service industries that employ human beings will automate most of these processes and actually improve service and the quality of their product. Low and middle skilled labor in the next twenty five years will face some grim employment challenges. Protesting this sea-change in the production and labor equation, is spitting into the wind. Black Friday sales are down, provoking all kinds of discussion about ‘what it means for the economy and retailers’. Probably nothing, either way. But, it does provoke a discussion about why some retailers are going out of business, and it isn’t because they’re not offering discounts. Its because they’re not retooling properly for the new consumers who don’t want to wait until the day after Thanksgiving for the best deals, and they want better service. Some stories from the consumer front prove this thesis. For example, a new study says people care more about the WIFI connection than they do the bed, when it comes to choosing a travel hotel. Did the North Koreans really hack Sony Pictures. Not so fast. Investigators now think it was a disgruntled employee. But the real story is how much these Hollywood types are making … but you won’t see any minimum wage protesters on the Sony studio complex. Meanwhile, more TV viewers are streaming their favorite shows, and its happening with radio too as people listen to podcasts and services like Pandora, over the internet. Finally, that all meat diet you’re on may actually be better for your heart than the gluten free bagel diet. New studies show its the carbs that kill your heart. Sponsored by Ryan Plumbing and Heating of Saint Paul, and by Depotstar. 

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Podcast 264

Jeb Bush? Really? What started as a midweek update, back in the studio after the road trip, turned into a discussion of whether the ‘conservative movement’ has completely lost its way, even whether it exists at all. As Congress seems to struggle with how to handle President Obama’s executive orders on immigration, in an effort to avoid a government shutdown which moderates feel is bad publicity for Republicans, the Speaker’s plan is apparently to pass a continuing resolution for the overall budget while offering a separate budget for Homeland Security (Which is where the funding for the President’s controversial executive order on Immigration is funded). This leaves room for the complete Republican 117th Congress to address these issues after January. This strategy isn’t sitting well with some Republicans who believe they were sent there to stop the President’s power grab. While political junkies should probably stop worrying about Congress and start concentrating on building organizations for 2016, there is a big fight brewing on both sides of the political spectrum. Progressive and Moderate Democrats on one side, and a mixed bag of Republican constituencies on the other. Libertarians, Moderates, Religious Conservatives all vying for control of the GOP … again. This leaves space for yet another Bush to ride in on the White Horse they keep down there on the ranch and be ‘the adult in the room’ and stop all those crazy ‘Paul-Bots’, and ‘Tea Baggers’; i.e.; The Conservative Movement. Or what’s left of it. The challenge in this podcast is, once again, to define what exactly a conservative is? While the Republicans won a huge midyear victory, that victory does not mean the ‘movement’ is healthy … or even alive. A conservative is a former Florida Governor who believes in Common Core and doesn’t want to repeal Obama Care? Republicans might have won a legislative majority in 2014, but that doesn’t mean they know what they’re doing. All it shows — and they certainly deserve credit for it — is that they were able to get their people out to vote, while the other side stayed home. But what is the GOP for? What do the conservatives want to do about economic policy, spending and debt, foreign policy? The so called grassroots are talking about 1776, the constitution and a constitutional convention (Editor’s Note: The dumbest idea ever.) This is a conservative ‘movement’? Next? Someone finally has taken the pundits who keep saying cheaper gas is like a huge tax cut. Except it’s not. In this podcast find out why. Plus, don’t forget there is an ominous demand side to the cheaper gas we’re currently enjoying; Slow downs in Europe, Japan, China and Latin America do not bode well for the global economy, and the US isn’t growing dynamically to pull everyone else’s fat out of the fire this time. Black Friday turned out to be a bust. So don’t expect that just because gas is 2.49 a gallon it means unicorns and rainbows, economically speaking that is. Sponsored by X Government Cars and by Depotstar. 

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