The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (
) -- I apologize to readers if it seems that I overuse the term "hypocrisy" in my writing. My defense is simple: If I were reporting on a massacre, it would be impossible to do so without regularly using the word "murder" or some synonym.
Similarly, living in an age of rampant hypocrisy on the part of our governments, it is impossible to accurately report on the outrageous conduct of Western governments without frequently invoking the accusation of hypocrisy.
The examples of such hypocrisy are too numerous to list in full, but I'll offer a small sampling. While these political stooges regularly criticize the rapacious Western multinational banks, there has been zero in the way of "punishment" or even regulation. Instead, all our hypocrite governments have done is reward the crimes of these bankers with ever-larger hand-outs -- with European governments now taking
to shower bail-out dollars on their own banking crime syndicate.
Meanwhile, what these same governments are doing to their own people can only be described as the economic equivalent of "raping and pillaging." The combination of near-zero interest rates and savage inflation rates severely punish anyone with savings, and is nothing less than an economic "crime against humanity" against our swelling retired populations.
These people no longer have the capacity to generate incomes to even partially protect themselves from this economic rape. Then to add further "insult" and hypocrisy to the injuries inflicted upon us by our own traitor-governments, we have to listen to
from these hypocrites about how individuals are taking on too much debt.
The same governments, which are the biggest deadbeat-debtors in the history of the world and punish "savers" more than any governments in history, have the audacity to criticize their own peoples because we have been forced to emulate their own reckless behavior.
It would seem that these governments have already "set the bar so high" when it comes to their hypocritical behavior that nothing could compare to these past outrages. However underestimating the hypocrisy of Western political leaders would be just as foolish and naïve as underestimating the greed of the banksters whom they serve.
One of the most-repetitive themes of Western hypocrisy is to call China a "currency manipulator." Follow the "logic" of these serial liars. It is our own morally, intellectually, and economically bankrupt governments which began the game they have themselves dubbed
-- literally a race to see which of these traitor-regimes can drive the value of their currency (our money) toward zero the fastest.
There can be absolutely no mistake about who is the instigator here, as there is abundant objective proof. Neutral countries like Brazil are very explicit in pointing the finger at Western central banks as the source of the vast majority of the new money-printing flooding global markets and destroying the global economy.
In an era of permanent near-zero interest rates across the Western world, the only possible way to further devalue one's currency is via excessive money-printing. Thus Western printing presses alone provide us with the "smoking gun" as to who are the real "currency manipulators." However the proof gets even more obvious. For the vast majority of the time that Western hypocrite-governments have been criticizing China as a "currency manipulator," China's currency was literally "pegged" to the U.S. dollar.
What does this mean? It means that China's monetary policy was literally designed to perfectly mirror U.S. monetary policy. Note that competitive devaluation by definition is currency manipulation. Thus, each and every time U.S. politicians have accused China of being a "currency manipulator," they were in fact hurling that accusation at their own reflection.
Engaging in such utterly blatant hypocrisy on a few occasions would be merely despicable. However, for the Republocrat politicians to engage in this hypocrisy month after month and year after year goes well beyond absurd. Yet we see that once again the U.S. mainstream media are faithfully parroting these accusations from U.S. politicians, with not one word mentioning the serial currency-manipulation of the U.S. government itself.
Another piece of
has been crafted by U.S. politicians, this time in the Senate, formally accusing and targeting China as a currency-manipulator. However, with the House Republicans already publicly stating that they wouldn't even look at such legislation, the posturing in the U.S. Senate is simply more vacuous rhetoric.
Adding more absurdity to these theatrics, even President Barack Obama chimed in about how pointless this posturing was, observing that any legislation in this regard which was passed by the U.S. would be "slapped down" by the World Trade Organization. Yes, those China-lovers at the WTO would reject any U.S. measures taken against China, simply because the U.S. was doing exactly the same thing in the realm of currency manipulation.
Yet even with Obama pointing at the obvious hypocrisy and futility of this latest round of China bashing, not a single drone in the entire mainstream media is capable of perceiving the hypocrisy of the U.S. government on this subject. Clearly there is absolutely zero "news" to report on the subject of China and currency manipulation.
What is noteworthy as the mainstream media churns out yet more endless reams of drivel on this subject is the complete absence of any brainwave activity within the U.S. mainstream media. The light may be on, but clearly "no one is home."
It is thus not surprising in the slightest that the largest bloc of the U.S. population looks to comedians like Jon Stewart and Stephen Colbert for their "news," because it's the only niche in the massive, U.S. mainstream communications empire where Americans can find intelligent analysis.
In fact, the U.S. mainstream "news" media have now completed the circle here. Americans are forced to journey to the realm of entertainment to get any news. Meanwhile, official "news" outlets epitomized by
have in fact ceased to provide news for the declining overall audiences -- but rather merely provide entertainment cloaked as "news" for all the ideologues to whom they pander.
Established media outlets love to "blame the internet" for their rapidly declining audiences. The truth is far different. Western media oligopolies have rendered themselves irrelevant to a steadily increasing portion of our population through the combination of their deliberate attempts to deceive us and their own, insipid mediocrity. When this steady attrition leads to the inevitable death of most of these media empires, there will be few mourners.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.