by Martin Armstrong, Armstrong Economics:
The Economist’s editor-in-chief, Zanny Minton Beddoes, wrote that global warming would damage a tenth of the world’s residential property by value. They reported that this includes “many houses that are nowhere near the coast. From tornadoes battering Midwestern American suburbs to tennis-ball-size hailstones smashing the roofs of Italian villas, the severe weather brought about by greenhouse-gas emissions is shaking the foundations of the world’s most important asset class.”
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Once upon a time, the Economist was a respected magazine. Today, there is no point in advertising there because, clearly, the people who believe these articles are brainwashed and hopeless unless you are pitching green investments that always lose money. Can you imagine that now 10% of all real estate will be damaged by global warming?
The entire problem has infected the media for centuries. Donald Trump did not suddenly invent Fake News. Here is an article from the New York Sun published on September 3rd, 1892. The Sun charged its competitor, the New York World, with “manufacturing news in its own office purporting to be cable news of interviews with prominent scientists in Europe.” The article states it cannot be condemned for it “strikes at the vital point in the character of a newspaper… Of all unfortunate and foolish things a newspaper may do, that of destroying public confidence in itself is most unfortunate and most foolish, and it can accomplish this end in no other way more quickly or more completely than in the matter of ‘fake’ news.”
The first time I heard about corruption in the media was in a GRADE SCHOOL history class in the early to mid-60s. The teacher explained that the media created the Spanish-American War, which manufactured news to sell newspapers. You needed sensationalism to sell newspapers. The Hearst model was all about selling sensationalized stories to sell papers – not necessarily the truth.
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