The Media: Free Market versus Status Quo

OPEC headquarters building

We have a nice insight into how little capitalists value the free market. Now that the free market result conflicts with the status quo— under which they flourished, no longer do they relish the free market.

Case on point. In the past year as OPEC lost control of cartel pricing, under competitive bidding the price of oil fell from $100 to $50/barrel.

Are we hearing the financial talking heads on MSNBC, CNN, Bloomberg, and other media outlets praising the return of free market action? No, they are bemoaning the decline in energy stocks and the change it forces upon the stock market.

Media respond to their owners and their sponsors—emphasizing losses that bother those capitalists. At the same time, the media minimize the positive effects of lower oil prices, saddling them with deflationary overtones. In actuality, the lowered oil prices actually represent a end of artificially inflated energy prices prevailing since the start of OPEC and its anti-free market pricing.

The promotion of status quo conditions above market pricing in the oil market is a definitive sign that media analysis support financial elites who don’t want free market forces to upset the win they’ve arranged under the status quo.

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