Bye bye Miss American Pie

Financial Armageddon posted this graphic from Billshrink that illustrates the ending of the American Dream. The Beaver got killed in Vietnam. Wally is a 10 term Congressman and Eddie is the president of a Wall Street Bank. Listen to the song while you study and ponder this graph.

Truth vs. Public Perception

Michael Steinhardt, one of the most successful hedge fund traders ever, and with a longevity that spanned 50 years, now spends his time smelling the roses. He took time out from his retirement to speak frankly about the economy, the end of America's business culture, and what he called the 'Greatest PR Con Job Ever' when he spoke about Warren Buffett.

Truth vs. Manufactured Consent

Yesterday I suggested folks take a look at some videos. I pointed you towards Manufacturing Consent. Speaking about the subject matter of his book, 'Manufacturing Consent', Noam Chomsky talks about the role the media plays in shaping political opinion. Here then, find out what he has to say about main stream media:

And then take a gander at this recent CNN interview of a former CIA analyst talking about America's intervention in Libya:

At the same time Libya is undergoing what is being called "Kinetic Military Action", hardly a peep is heard from Bahrain where 25 or more people have been killed, another 1,000 have been injured and wounded, and 400 people languish in jail for speaking out. The President of Bahrain's Human Rights Centre, Rajeel Rajabsays Western mainstream media are being asked not to report on Saudi and UAE troops gunning down protesters in Bahrain.
Where does the truth lay? Where is John Galt?

Two Rainy Day Films

As an agregator site, I pull together items I find interesting to share with my friends. Very little of what I write these days finds its way onto posts. For the most part, any analysis I can offer is less than that provided somewhere else.

Two documentaries have made an impact on me recently. The first is "The Century of Self." This series, produced by the BBC, traces how industry and government use psychology to shape our purchase and voting habits. Eddie Bernays, the nephew of Sigmund Freude, began by working for the tobacco industry. He proved to Madison Avenue that psychology could overcome societal barriers in doubling the number of smokers in America by inducing women to take up the habit. A facinating application of the same techniques were adopted by political parties to get their leaders elected. YouTube also has a series of videos based on Noam Chomsky's great work; "Manufacturing Consent."

And when you are finished watching those and have had a good vomit, I suggest you continue the filmfest and watch the best documentary made about the financial crisis; "Inside Job", produced by Charles Ferguson. He won an Academy Award for it. It is an outstanding piece of film that traces the steps to the collapse from Reagan to Obama. Posted on the site Zero HedgeThis is the first time I have found it on-line for free.

Watch these films and perhaps show them to your friends and family. With an election coming up next year, ask yourself if you can believe anything you hear coming out of the mouths of politicians and the media. Think about the billions flowing from Wall Street to the campaign coffers of both Republicans and Democrats.