Life imitates art.
Life also imitates blogs.
The Gray Lady has fallen. When you’re her age, recovery is very difficult, even impossible someTimes. A couple of days ago, in this posting about layoffs at CBS radio stations, we talked about the incredible shrinking New York Times. Today, the Times announced job cuts. Maybe we’re psychic or something.
No, we can’t claim any psychic powers. It wasn’t really hard to see this one coming. As we discussed, all of the traditional media are struggling. Newspapers have been getting smaller while their newsstand price has been climbing. Radio stations have been reduced to generating ad revenue by running commercials for snake oil, 24 hours a day. Broadcast television is pretty much a wasteland. Hey, Mr. FCC chairman… Is broadcasting infomercials most of the time considered “broadcasting in the public interest”? Don’t broadcasters have to demonstrate that as a condition of license renewal?
But good news is just around the corner. The Fed is talking about yet another rate cut, and the President says the checks are (almost) in the mail.
Our economy is looking more and more like an emaciated drug addict every day. Our neighborhood dealer, Mr. Bernanke, who has gotten us dependent on rate cuts, is going to run out of his brand of crack before too long. If the IRS doesn’t keep sending us rebate checks, we might have to start robbing little old ladies to support our habits. Disgusting habits. Like eating …and filling our gas tanks …and heating the house …and paying the mortgage.
How do things sound where you are? That giant sucking sound is getting louder around here. Ross Perot was right.
July, 2008 Update…
The New York Times layoffs are now five months old, the newspaper continues to shrink, and now, they raise the cover price yet again. Read our latest article here.