Wednesday, 20 July 2011

Could The News International Phone Hacking Scandal Be A Smokescreen?

Yesterday the Murdoch's went before the House of Commons Culture, Media and Sport Committee. Rupert did his doddering old man act so as to come across humble, while James acted the loving son and a competent technocrat. It is thought that they practiced this deflect the MP's questioning. Also people who have worked with or interacted with 'The Dirty Digger' within the last couple of years still describe him as very sharp and able.person (If his facilities have started to desert him at a rate of knots recently, my apologies and condolences), so it looks like his appearance yesterday may have been a bit of an act! I seem to remember an American Mafia don stumbling arround in his pajamas and dressing gown, trying to give the FBI the same impression as Rupert may well have been trying to give the committee.

News Corp's share price rose during the committee meeting. This was probably due to people shorting News Corp on the expectation that the questioning would go disasterously for Rupert and James having to go back into the market to cover their position.

But to get to the main thrust of my post. This 'Phone Hacking' Scandal has cropped up at the same time as and taken the media spotlight off the so called 'Debt Crisis' in both the EuroZone and the USA. You seem just to get the Murdoch media empire's woes taking up 80 to 90% of any news or current affairs programs, also pushing out any reporting of the Greek Bailout II crisis, the USA debt ceiling negotiations and the problems with the Tea Party, Eurozone debt contamination and what to do if Spain and Italy get into simillar straights.Have you actually noticed any of this on the news? Could it be that someone or something is trying to distract us all from the fact that the economy is going to Hell in a handbasket? It looks a bit like it!

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