So, the CBS Evening News has been running a series of interviews with important figures it holds, in its unwavering commitment to objective journalism, to have special insight and ability to diagnose what’s wrong with the U.S. economy. Who are these figures, to whom we are supposed to defer? You guessed it: Corporate CEOs!
Take a look at this clip of Starbucks CEO Howard Schultz:
Schultz acknowledges that capitalists are hoarding cash. Why are they doing that, according to him? “The only reason is…the anxiety and uncertainty that exists about the political system.”
One could certainly ask CBS why a billionaire who started a coffee shop and holds that highest and most relevant of intellectual credentials – a 1975 bachelor’s degree in Communications from Northern Michigan University – gets to say anything on national TV about what ails the political economy in 2011.
Anyhow, let’s instead change the characters here, shall we? Let’s imagine that foxes have been devouring hens from the henhouse on Farmer Smith’s farm.
CBS: Mr. Fox and Farmer Smith, why are there so few hens in the henhouse these days? How do we rebuild the population in there? Mr. Fox, since you invented farming, let’s start with you. What the problem out there?
Fox: Well, we all know how delicious hens are [belches and picks teeth], don’t we? The one and only reason they are dwindling has to do with how Farmer Smith is paying for the tractor. Will he use cash? His credit card? How can we foxes know what to do next, when we have such a crisis of confidence about that tractor payment?
Farmer Smith: Some might say I should put a door on the henhouse and start shooting foxes. But everybody knows foxes are the engine of any productive farm, so we must actually open the windows on the henhouse, too. Meanwhile, I’ll be meeting with my neighbor farmers to consider how we should pay off our tractors. Soon, we’ll all be up to our elbows in chickens!