In fact, Warren Buffett has said don’t buy newspaper stock at any price. The days of the monopoly newspapers huge readership and advertising revenue are long gone.
Back in the USSA. We don’t know how lucky we are, eh! Back in the USSA!
Antonia Ferrier, a spokeswoman for House Minority Leader John Boehner (R-Ohio), said Gibbs was trying to create a distraction by responding to Limbaugh.
“What we are seeing is a desperate attempt by Democrats to distract attention away from a multi-trillion dollar spending spree taking place in Washington,” Ferrier said. “Creating a boogeyman to change the subject does nothing to alter the fact that there are 9,000 earmarks in the omnibus spending bill, that the economic stimulus bill contained no Republican input or that their budget would increase taxes on all Americans.”
The EU is on the verge of crumbling as Obama and Gordy Brown use the banking crisis to nationalize and build more power for central government.
Historians will look back and say this was no ordinary time but a defining moment: an unprecedented period of global change, and a time when one chapter ended and another began.
The scale and the speed of the global banking crisis has at times been almost overwhelming, and I know that in countries everywhere people who rely on their banks for savings have been feeling powerless and afraid. But it is when times become harder and challenges greater that across the world countries must show vision, leadership and courage – and, while we can do a great deal nationally, we can do even more working together internationally. — Gordy Brown, UK Prime Minister
Anyone who took Economics 101 remembers the root cause of inflation — the central government prints massive amounts of currency. Change is coming. Inflation is coming my friends. From near zero under Bush (the evil one) to what may rival Zimbabwa in about a year or two.
What will happen to the Democrat/Socialist Party’s plan to tax “only the rich?” We will all be the rich. Any two income household making over $210,000 will be taxed at the super high rates of Jimmy Carter, LBJ and FDR.
That is coming. Bet on it. We will be wards of the state with more than 50 percent of our wealth taxed by the Democrats. The home mortgage deduction has been taken away from those like Joe the Plumber. Welcome to the USSA. We don’t know how lucky we are, eh!
Back on Uncle Sam’s plantation
Star Parker – Syndicated Columnist – 2/9/2009 8:00:00 AM
Six years ago I wrote a book called Uncle Sam’s Plantation. I wrote the book to tell my own story of what I saw living inside thewelfare state and my own transformation out of it.
I said in that book that indeed there are two Americas — a poor America on socialism and a wealthy America on
I talked about government programs like Temporary Assistance for Needy Families (TANF), Job Opportunities and Basic Skills Training (JOBS), Emergency Assistance to Needy Families with Children (EANF), Section 8 Housing, and Food Stamps.
A vast sea of perhaps well-intentioned government programs, all initially set into motion in the 1960s, that were going to lift the nation’s poor out of poverty.
A benevolent Uncle Sam welcomed mostly poor black Americans onto the government plantation. Those who accepted the invitation switched mindsets from “How do I take care of myself?” to “What do I have to do to stay on the plantation?”
Instead of solving economic problems, government welfare socialism created monstrous moral and spiritual problems — the kind of problems that are inevitable when individuals turn responsibility for their lives over to others.
The legacy of American socialism is our blighted inner cities, dysfunctional inner city schools, and broke n black families.
Through God’s grace, I found my way out. It was then that I understood what freedom meant and how great this country is.
I had the privilege of working on welfare reform in 1996, passed by a Republican Congress and signed 50 percent.
I thought we were on the road to moving socialism out of our poor black communities and replacing it with wealth-producingAmerican capitalism.
But, incredibly, we are going in the opposite direction.
Instead of poor America on socialism becoming more like rich American on capitalism, rich America on capitalism is becoming like poor America on socialism.
Uncle Sam has welcomed our banks onto the plantation and they have said, “Thank you, Suh.”
Now, instead of thinking about what creative things need to be done to serve customers, they are thinking about what they have to tell Massah in order to get their cash.
There is some kind of irony that this is all happening under our first black president on the 200th anniversary of the birthday ofAbraham Lincoln.
Worse, socialism seems to be the element of our new young president. And maybe even more troubling, our corporate executives seem happy to move onto the plantation.
In an op-ed on the opinion page of the Washington Post, Mr. Obama is clear that the goal of his trillion dollar spending plan is much more than short term economic stimulus.
“This plan is more than a prescription for short-term spending — it’s a strategy for America ‘s long-term growth and opportunity in areas such as renewable energy, healthcare, and education.”
Perhaps more incredibly, Obama seems to think that government taking over an economy is a new idea. Or that massive growth in government can take place “with unprecedented transparency and accountability.”
Yes, sir, we heard it from Jimmy Carter when he created the Department of Energy, the Synfuels Corporation, and the Department of Education.
Or how about the Economic Opportunity Act of 1964 — The War on Poverty — which President Johnson said “…does not merely expand old programs or improve what is already being done. It charts a new course. It strikes at the causes, not just the consequences of poverty.”
Trillions of dollars later, black poverty is the same. But black families are not, with triple the incidence of single-parent homes and out-of-wedlock births.
It’s not complicated. Americans can accept Barack Obama‘s invitation to move onto the plantation. Or they can choose personal responsibility and freedom.
Does anyone really need to think about what the choice should be?
Rupert Murdoch is a media genius. He has an instinct for fair and balanced news. Of course, members of the elite, liberal media (former monopolies) would say he is just a rich conservative who buys up media. I’ve seen the smears against him for the past 25 years. Now his empire includes FOX, the Wall Street Journal and You Tube.
This is what Mr. Murdoch has to say:
“It used to be that a handful of editors could decide what was news-and what was not. They acted as sort of demigods. If they ran a story, it became news. If they ignored an event, it never happened. Today editors are losing this power. The Internet, for example, provides access to thousands of new sources that cover things an editor might ignore. And if you aren’t satisfied with that, you can start up your own blog and cover and comment on the news yourself. Journalists like to think of themselves as watchdogs, but they haven’t always responded well when the public calls them to account.”
Mr. Murdoch points out the media reaction after bloggers debunked a “60 Minutes” report by former CBS anchor, Dan Rather, that President Bush had evaded service during his days in the National Guard.
“Far from celebrating this citizen journalism, the establishment media reacted defensively. During an appearance on Fox News, a CBS executive attacked the bloggers in a statement that will go down in the annals of arrogance. ’60 Minutes,’ he said, was a professional organization with ‘multiple layers of checks and balances.’ By contrast, he dismissed the blogger as ‘a guy sitting in his living room in his pajamas writing.’ But eventually it was the guys sitting in their pajamas who forced Mr. Rather and his producer to resign.
“Mr. Rather and his defenders are not alone,” he continued. “A recent American study reported that many editors and reporters simply do not trust their readers to make good decisions. Let’s be clear about what this means. This is a polite way of saying that these editors and reporters think their readers are too stupid to think for themselves.”
—Reported by Charles Cooper of CNET.
Update: Dan Rather now works for Mark Cuban, the owner of the Dallas Mavericks. Cuban is under investigation for insider trading by the federal SEC.
“My summary of the way some of the established media has responded to the internet is this: it’s not newspapers that might become obsolete. It’s some of the editors, reporters, and proprietors who are forgetting a newspaper’s most precious asset: the bond with its readers,” said Murdoch, the chairman and chief executive officer of News Corp., owners of FOX News.
UPDATE: Dec. 21, 2008
Some 500 managers and nonunion workers at The Seattle Times are being asked to take a week off without pay as financial troubles mount.
This is one of many JOAs that allow two mastheads to remain “independent” while all the marketing, promotion, advertising, publishing and distribution are joined in one economical operation. It is a form of monopoly, exactly what Mr. Murdoch was discussing.
Company spokeswoman Jill Mackie said workers can take the time off in a weeklong chunk or a day at a time between now and February. She declined to say how much money the Times expects to save from the mandatory time-off program.
It’s the latest in a series of dire steps by the company, which has had three rounds of layoffs this year.
“There are very few areas remaining in which we can pursue necessary savings,” wrote Seattle Times Senior Vice President Alayne Fardella in a two-page memo sent to all nonunionized Seattle Times employees Friday.
“It has been and continues to be a long and difficult fight for our survival.”
The memo says the time must be taken off before Feb. 28 because the company needs to achieve cost savings early in the year.
The decline of the newspaper media monopoly never slows. If you have any stock in newspaper-heavy media, it’s too late to get out. As of the end of 2008, 30 daily newspapers are for sale. Buyouts were the good old days. Now there are brutal Christmans-time layoffs. Google the Gannett Blog and find a running count by an ex-Gannetter.
The layoffs and firings that started this week at newspapers owned by Gannett, including at the flagship USA Today, have been especially ruthless, in addition to being timed just weeks before Christmas, they number in the thousdands. But why not? These are mainly socialists and athiests who mock families and call moms breeders.
It’s bloody news for newspaper journalists. Even the sill profitable Gannett newspapers (many still have profit margins at 20 percent) are shedding employees at a breathtaking rate.
This week a Gannett spokesperson said the cuts are being managed locally, at each newspaper, which is why as a company they’ve not released figures on specific jobs other than to say it’s a 10 percent cut companywide. While early figures compiled paper-by-paper totaled 1,700 Gannett jobs cut, it looks like that number may well pass 2,000 by next week.
In just the past week several thousand newspaper employees in America have lost their jobs, Cox Newspapers announced the closing of their Washington, DC, bureau, and the Tribune Co. will lay off more people at their flagship paper in Chicago.
In Chicago the credit analyst Fitch Ratings predicted that the continued decline in advertising revenues will cause some newspapers to default on their debt in 2009, and rated the debt of two huge newspaper companies – The McClatchy Co. and Tribune Co. – ask “junk.” Fitch also predicted that several cities could find themselves without daily print newspapers by 2010.
As many as 1,700 Gannett jobs were cut this week, from assistant managing editors on down, including reductions of up to 31 percent of the staff at one newspaper, The Salinas Californian, according to a reader tally on a blog published by a former Gannett worker, Jim Hopkins.
The most recent E&P (an online Web site on newspapers that ironically ended its print edtions a decade ago) reports that recruitment advertising declined in May. The Newspaper Conference Board, which measures job ads in 51 print newspapers across the country, said its Help-Wanted Advertising Index is 33. It was 38 one year ago.
“This is certainly a more negative picture going into the second half of the year, compared to the beginning of the year,” Ken Goldstein, a labor economist at the Conference Board, said in a statement.
In the last three months, help-wanted advertising fell in all nine U.S. regions.
The Dallas Morning News (a monopoly) said today it’s going to offer buyouts to the newsroom. That means waving a modest proposal of a few extra weeks of severance pay in front of the noses of older employees. Reality check: the UAW buyouts give auto workers 90 percent of their pay and free health care for life.
I was walking my dog this morning at 5:30 a.m. and watched a newspaper carrier in a junk car speeding around my neighborhood to drop a paper at every 20th house or so. Just a few years ago, 40 percent of the homes subscribed to the paper.
Imagine the carbon footprint of that old smokestack medium.