This year the media's myth were wide-ranging: from conspiracy theories about economic sabotage, to overpopulation panic and Occupy Wall Street's mantra 'We are the 99 percent.'
Media join president in taking an anti-energy industry stance.
In November 2011 it became public knowledge that the Chevy Volt could possibly catch fire weeks after a serious accident. The National Highway Traffic Safety Administration (NHTSA) opened its investigation into the matter on Nov. 25. Now General Motors is trying to recall all of the Volts for "enhancements," all while attempting to avoid the word recall. ABC and NBC are also avoiding that recent development.
On Jan. 5 Associated Press reported that GM "will ask Volt owners to return the cars to dealers for structural modifications." NPR reported that "GM is fixing the cars under a customer service campaign. That's kind of like a recall, but it comes without the bad publicity or the federal scrutiny of a safety recall."
Only CBS reports GM's sneaky campaign to fix media hyped electric car.
Media's favorite protest to become a college course, despite irony of OWS classroom walk outs and protests of student loans.
Each year the Business & Media Institute looks back on the year's news and selects the top 10 worst economic myths. This year the media's myths were wide-ranging: from conspiracy theories about economic sabotage, to overpopulation panic and Occupy Wall Street's mantra "We are the 99 percent."
Here is our 2011 list:
While protesters only began shouting "We are the 99 Percent," a few months ago, the class warfare sentiment that the top 1 percent and the 99 percent are at odds is not a recent phenomenon. It was a claim made in media appearances before the first protests began in Zuccotti Park.
In a Democracy Now! video of Occupy protests in October 2011, a doctor, nurse and others complained about income inequality, the lack of fairness and claimed that "never" had "this much wealth been concentrated in so few hands." But before that, PBS, Vanity Fair magazine, The New York Times and other media outlets had all used left-wing class warfare messaging to criticize the amount of wealth held by the top 1 percent or the problem of "rising" income inequality.
Alice Walton, Wal-Mart heiress, criticized by Occupy Wall Street for giving $1.4 billion to found Arkansas art museum.
Meanwhile, per gallon prices still 60 cents higher than last year, $1.56 higher than when Obama took office.
For years while George W. Bush was in the White House, the three broadcast networks and other media repeatedly hyped the threat of rising gas prices, exaggerated the "record" price of gas and incorrectly predicted, $4, $5 and $6 gasoline or even higher. Now the gas price story has been turned upside down under the anti-oil presidency of Obama, despite sustained high gas prices.
Flashbacks of 2008 were on the minds of many when MF Global, a Wall Street firm led the Democratic former N.J. Gov. Jon Corzine, filed for bankruptcy amid a huge scandal. Forbes said the firm owes $2.2 billion to JP Morgan and Deutsche Banks. But the broadcast networks had amnesia when it came to their previous coverage of Corzine, his role as adviser and fundraiser for Obama and their previous use of him as an economic expert.
MF Global filed for bankruptcy protection on Oct. 31. The firm, under Democrat Corzine’s leadership had invested in more than $6 billion European sovereign debt and was overleveraged (borrowed too much). Why would they have invested in such risky assets? According to both New York Times and Fox Business contributor Charles Gasparino, Corzine was betting on a European bailout.
ABC, CBS and NBC silent about mistakes that took lives during Hurricane Katrina, wasted countless tax dollars for years.
The Occupy Wall Street protests marked off a full month of occupation Oct. 17, and the network news media continue to gloss over protesters calls for "revolution" as well as the socialistic mentality espoused by many of the protesters.
One protest speaker was videotaped saying, "Long live the revolution! Long live socialism!" Others in Chicago and Philadelphia marched with Communist flags. And Oakland, Calif. occupiers articulated their desire for income equality, a new political system and disgust for the bourgeoisie (whether they be landlords or hot dog stand owners.)
Marxism abounds at Wall Street protests, but ABC, CBS and NBC barely mention call for anti-capitalist revolt.

Extremists in Guy Fawkes masks, Code Pinkers and "professional anarchists," have camped out in New York City to protest Wall Street, greed and the capitalist system. Through social media the first protest in New York's financial district has sparked copycat protests in more than a hundred cities. In a video posted on The Blaze, organizer Nelini Stamp made it clear that what she wants is "to change the capitalist system that we have today because it's not working for any of us." Moments later she said the conversation needed to begin about how "to reform and bring, you know, sort of revolutionary change to the States." She also labeled the OWS events part of a "new age radical movement."
Yet you're unlikely to hear about that from the liberal national news media, who have ignored the radical leftist underpinnings of the movement in nearly 9 out of 10 stories thus far.
The media said there was "good" but "not great" news on the unemployment front in September with 103,000 jobs added, according to the Bureau of Labor Statistics. The unemployment rate remained 9.1 percent.
But even with that growth, Obama's jobs promises have fallen far short. His economic policies were supposed to create 4 million jobs by the end of 2010. Now, ten months later the economy is still dealing with net job losses of 2,229,000 since February 2009.










