Bailout for The Mainstream Media May be Next

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DrKrbyLuv's picture
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Bailout for The Mainstream Media May be Next

Charting Stocks

One of the silver linings of this economic depression is the collapse
of mainstream media companies and the creation of internet blogs along
with citizen journalism. While this media shift is ongoing and certain,
a question arises - Will the government, in further effort to keep
their political-financial-media power in tact, bailout big media?

Does the News Industry Deserve a Bailout? That was the headline in a recent article written in Time Magazine. Written by Douglas A. McIntyre, the article argues “the strategic value of the print media comes from the centuries that it has served as a check and balance to the central government both in the United States and elsewhere.

The article goes on to say “Politicians have every reason to want
to see print media fail. That can be said tongue in cheek, but too many
governors and congressmen have lost jobs after newspaper investigations
to make the relationship between Fourth Estate and politicians a
comfortable one. A neutered press would benefit a number of elected officials.

I wonder what a  “neutered press” would look like? Would they peddle
optimism even while the economy was collapsing? Would celebrity gossip
become newsworthy? If the government wanted to loot the United States
treasury and bailout their campaign contributors on Wall St, would a
“neutered press” fail to demand answers or, even worse, scare the
American people into submission? Would this neutered press allow the
government to use 9-11 as a tool to occupy the middle east, while
ignoring the cries of first responders and families of 9-11?


RSLCOUNSEL's picture
Status: Bronze Member (Offline)
Joined: Sep 26 2008
Posts: 41
Re: Bailout for The Mainstream Media May be Next

Last October I had the Mainstream Media 3rd on my list behind

(1) States that spend and borrow more than they can possibly take in or pay off. Starting with California and New York.
(2) Municipalities that spend and borrow more than they can take in or pay off. Starting with cities in California and New York.
(3) Mainstream Media: ABC, CBS, NBC, New York Times, etc. whose ad revenue has plummeted because no one trusts their reporting anymore.
(4) Major unions because their membership may get laid off during a prolonged downturn which could have a negative affect on dues collections (especially since their coffers are depleted from donating money to the candidates of their choice.
(5) Non-governmental groups whose donations are facing a down turn due to weakening economy. This would only apply to secular institutions (religious affiliates are 48th on this list). Groups such as ACORN and would top my list.

Full post from October here but save yourself a click the essence is posted above.

 What is absolutely uncanny is my comment on (5) about ACORN.  Now we learn 4 months later that in the Obama stimulus package they are going to get $2B.  I work for a manufacturing company and you know what we would do with $2B?  Invent things, grow the economy and provide good paying jobs.  

DrKrbyLuv's picture
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: Bailout for The Mainstream Media May be Next

That's the dirty secret behind the bail-outs - we are pouring money into zombies who do not contribute to the productive economy.  If we had the money that would be one thing but we are borrowing every penny that we give and are growing a debt that can never be repaid, even by our great grandchildren.  Perpetual debt - enslavement.

Tax rates will rise to staggering levels just to service the interest on the debt which will strip us our ability to rebound from this crisis. 

mainecooncat's picture
Status: Gold Member (Offline)
Joined: Sep 7 2008
Posts: 488
Re: Bailout for The Mainstream Media May be Next

I would assume that the government would like to see the perpetuation of mainstream media as these organizations collectively represent the government's chief conduit for propaganda. Just think of the role the "liberal" New York Times played in normalizing the idea of a war with Iraq -- making it seem kosher to a Democratic Northeast. Just think of the role they play now in obfuscating the truth regarding our current "recession" or whatever ridiculous and dishonest euphemism is used for what is really a slow (at least for now) transition into a new and permanent economic model that will resemeble the past as much as a racoon does an elephant.

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