Wednesday, June 11, 2008

Media and Religion Share the Title

I've been very busy lately buying a new house and finishing projects at work. I haven't had time to put into words my many random thoughts that I have from time to time. My last one was during a hurried lunch at a burger joint.
I've decided that the Media is also the root of all evil. So Media and Religion share common ground.
If you make olive oil for 20 cents a bottle and then sell it for 99 cents a bottle then that's good business. It's 500% profit. If everyone in the world has to have olive oil to wake up in the morning then demand for olive oil would be huge and you'd always have steady income and likely lots of money.
Now, imagine that the media, for one reason or another, announced a shortage of olive oil. You are still manufacturing olive oil as fast and furious as you possibly can. It still costs you 20 cents to make a bottle. But, the media is announcing that olive oil will soon cost $3 per bottle because of increasing demand and lack of supply.
Being the greedy entrepreneur that you are, the light bulbs will immediately go off. If the media is preparing the public for this shortage and these prices, then I can go ahead and raise my prices to $2.50 and be in good graces with the public. I'll be 50 cents cheaper than what the media (in it's fear mongering over the top news) has proclaimed. People trust the media and as a money making entrepreneur on the right side of the fence, I'll be more than happy to make their projections correct.
So, presently, when I go eat hamburgers, I have to pay the same price for my burger as before, but now I don't get tomatoes.

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