Proof Fake News Does Real Damage to Economy

Proof Fake News Does Real Damage to Economy

American Liberty Report
December 13, 2017

 

For the past year, our great nation has enjoyed an historic stock run. Record highs continue to be broken, and there’s no end in sight currently to the abundance. All of that came to a sudden end last week. A sudden and sizeable dip reversed weeks of gains in less than an hour, and while stability and recovery are at hand, it will take weeks more for the full extent of the losses to be recovered.

The mainstream media has refused to acknowledge the key event that caused the dip, and its source is equal parts infuriating and terrifying. The stock market stumbled for no other reason than the publishing of a single fake news story.

The Story

On December 1, ABC published a story that claimed Michael Flynn was ready to testify against President Trump. Supposedly, the testimony would reveal that Trump ordered Flynn to contact Russia during the campaign—before he was elected president. It could be powerful evidence that deliberate collusion did occur between Trump and Russian officials.

The only problem is that it was completely untrue. Flynn never planned any such testimony, and the unnamed source for the tip didn’t say anything close to what ABC reported. The actual story was that President-elect Trump ordered Flynn to figure out how to get in touch with Russia to discuss a joint effort against ISIS.

On the surface, this distinction might not be obvious, but it is everything. If Trump intentionally contacted Russia before he was elected, it could be construed as collusion. But, he only pushed for contact after he was confirmed to be the next president. Contacting Russia during this period wasn’t just allowed; it was expected. ABC jumped the gun and published a highly misleading article that was meant to undermine the president. Shocker.

Fallout

The problem with fake news is that it isn’t harmless.

Manipulating large sections of the voting masses is bad enough, but this report highlighted a more disturbing component of media influence. Within 20 minutes of ABC publishing their fake story, the Dow Jones fell 350 points. This represented tens of millions of dollars in immediate losses. ABC later retracted the story, but the damage had already been done. The original story saw 25,000 retweets. The correction saw only 3,000.

Check out this news clip showing just how much damage this fake news story did to our stock market, aka our retirement accounts.

Even in the waning hours of mainstream media influence, they can still cripple our economy. Mostly, this is because stock market success is still hinging on Trump’s leadership. When a compelling story suggested that he really could be out of office, stocks tanked immediately, and this is the crux of the problem. Half of the nation still listens to mainstream media as a reliable source of news. If they can repeatedly convince those masses that Trump’s Presidency is in immediate danger, they can continue to crash stocks. What better weapon could they have against a president who was elected largely on economic promises?

As for ABC

They have faced vocal backlash, but nothing has really changed. The story was pushed by Brian Ross. He was suspended without pay, but he’ll soon be back at work within ABC’s ranks. They’ve promised that he won’t work on Trump stories, but we can’t trust that. As a left-leaning media outlet, ABC has no news to publish except attacks on Trump. They might remove Ross’s name from the reports, but if he still has a job, it will inevitably include digging for dirt.

The real problem is that ABC has no plans to change.

We know that they’re biased, and we know that they don’t care about the truth. They’ll issue retractions and corrections when public backlash forces it, but like all of the other major outlets, their only desire is to undermine the right and promote the stupidity of the left. It seems no matter how many times we catch these organizations pushing blatant lies, their core audience refuses to shut them down.

Maybe it’s time to embrace Trump’s ideas as a nation. A free press is important, but an unrestricted, flagrantly biased press is dangerous — especially when they abandon any pretense of caring about the truth. An effective media is dependent on journalistic integrity, and that is a concept that has fallen so far, you probably snorted in derision when you read the words. It’s time to reign in the liars, and if the government can’t do it, then it is our patriotic duty to bankrupt these corrupt institutions.

~ American Liberty Report (all emphasis is mine.)

–00–

I find actions of Wall Street to be crazy and often totally incomprehensible as a financial bastion; but, it is in some ways an accurate indicator of the stupidity of humans who are always looking for the next thrill or trash to titillate their emotions. People regularly lose and gain huge amounts of money during a stock market day and often on unfounded rumors.  People and the market are like a horde of insects waiting for the next little “sky is falling” moment to react to in a feeding frenzy.

Media, fake or otherwise, and every human on earth has to learn that Einstein’s theory on every action has an equal and opposite reaction isn’t just baloney science but something proved daily in society not just the scientific world.

ACTIONS HAVE CONSEQUENCES

Imagine if we actually had a world of humans that used that statement in everyday life before they began each new venture or made life-altering changes. Geez.  But of course that would be too much to hope for, wouldn’t it.

Those that deal with the finanial world know from watching fluctuations that even a “hint” or whiff of something will have markets rising and falling dramatically. Banks have crashed on mere rumors of banks in far away places closing their doors.

So why in the hell would an MSM group ever release such a clip — most especially breaking in regular programing as a “breaking news alert”– unless they had no thought processes or someone wanted to test the Wall Street market fluctuations in case they wanted to crash world economy?

ABC wasn’t just negligent. As I see it, they having had close to a hundred or more years of experience should have known what would happen. Yes, those who posted the news should be held to account. After all, having some degree of maturity allows one to see where the line and pitfalls can be mitigated by simply saying “NO.” The corporate structure also holds responsibility for presenting an environment where rabid rag journalism is acceptable.

It is a shame to see how far down in the gutter mainstream media has fallen.

–Uriel–

About Uriel

Retired educator and constitutionalist
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17 Responses to Proof Fake News Does Real Damage to Economy

  1. vonmesser says:

    Good point, but equal/opposite reaction is Newton, not Einstein. Shared.

  2. Navyvet says:

    The media doesn’t care about the economy, the American citizens, or the country. They told us rubes to not vote for Trump but we did anyway. All they care about is moving America towards communism. Which in fact doesn’t make much sense from their perspective. If they get what they want, there will only be one “news” outlet totally controlled by the government and these assholes will be sweeping streets.

  3. Whitetop says:

    Accountability it the key and while the Constitution (1st amendment) allows for a freedom of the press it doesn’t detail accountability. We are seeing more and more instances where people aren’t held accountable for their actions.

  4. NewMexicoBiker says:

    Wouldn’t it be nice to launch an investigation into how many ABC insiders opened short positions just prior to the fake news release? Surely there are laws that would allow the SEC to act on this! Could be a nice little scandal, put some greedy libbies behind bars.

    • Uriel says:

      Excellent suggestion NewMexico Biker. That has always been Soros gambit. And was brought out in the Las Vegas massacre.

  5. SafeSpace says:

    ABC at al are part of the sausage-making apparatus, cramming leftist agenda ingredients into pieces of intestine, then force-feeding it to us maggot citizens. As Navyvet said, the media could not give a crap about America’s economic health — just so long as they can keep collecting humongous salaries for lying and protecting their offshore bosses. It will take an armed assault to change them — of this I am convinced.

    • Uriel says:

      Let’s pray not SafeSpace though it is obvious they do need new management.

    • Hardnox says:

      I agree with SafeSpace. I don’t wish for it but there is no will within our body politic to change course. We have corruption at every level and within our media. Lemmings have been indoctrinated thoroughly. There are few other options.

      • Uriel says:

        The sad fact is that until and unless we experience trauma we have no appreciation of our selves or our God-given freedom and talents. Experience is a very hard taskmaster and correction often swings too far in the opposite direction.

  6. Whitetop says:

    Censorship and lack of accountability isn’t limited to the big metropolitan newspapers and TV news. It occurs in the small papers here in the hinterlands of fly over country. It is not easy to get a conservative viewpoint published in a small newspaper “letter to the editor” column. Corruption has infiltrated all our news media.

    • Uriel says:

      True I have seen it in my own hometown over the years.

      • I.R. Wayright says:

        We have the same three or four liberal nitwits that write their tripe every couple days in my local paper. I always check to see who wrote a letter first before wasting any time reading it. I already know what they are going to say anyway.

  7. Shar says:

    I don’t bother reading our local rag. All liberal and predictable nonsense. I could listen to CNN for free. I listen to Fox and read Nox (nice ring to it). Lately its hard to listen to any thing. Less talk. Time for action.