Not a lie, but a bad interpretation? Is that what we have when expert analysts say that stock-price indices — at new record levels today — are because the tax-cut bill was not priced in?
The momentum of equity prices at record levels has been explained by the experts as being in anticipation of tax cuts. Now that we have the tax cuts it is because they were not accounted for.
What a lot of baloney!
Record equity values are because of income inequality, continuing at record levels. Since the cronies of capitalism cannot admit to that, because everybody is supposed to benefit, they say it is because the tax cut is worth a lot more than expected.
That it is!
The net benefit for the rich is “hugely” beyond any reasonable expectation; but the reason equity values continue to rise at record levels is because of income inequality, not because of the tax cuts.
This “mischaracterization” is knowing and willing. It is a fraud!
Crony analysts want to be winners. They say what their masters want to hear or they will be losers (“takers” and not “makers”). So, they make stuff up to be “the best and the brightest.” Really, however, they’re just corrupt. This is the organized psychopathy I write about. It is a psychological condition that derives from fundamental attribution error.
The color of the narrative is frozen into the psyche as normal; and in this case, the new normal. Growing income inequality is normal. It is only natural, as Objectivist financiers describe it. Resistance is delusional, they say, and if you don’t think so, you are not very bright. Certainly not as smart as the cronies who routinely mischaracterize the truth on demand — naturally subordinated to market forces, technically determined by the means of income inequality.