Blog on the Run: Reloaded

Wednesday, September 30, 2009 8:41 pm

Roundup


Quick comments on some stuff bubbling up:

  • Apparently the president is “open” to the idea of some sort of tax break for newspapers that convert to nonprofits. Very bad idea — the government help, that is, not necessarily that type of conversion. For one thing, we can’t afford it. For another, it would be subsidizing an industry that has steadfastly refused to change its business model to adapt to changing market conditions. (Econ 101 was a long time ago, but I believe the technical term for such an expenditure is “throwing good money after bad.”) And news media need to maintain an arm’s-length relationship with the government if they are to do their jobs effectively. Converting to nonprofit status might or might not be a good idea (and some newspapers, such as the St. Petersburg Times, are owned by nonprofits already), but taking government money or tax breaks is bad for the industry and bad for the taxpayer.
  • Speaking of old media, Zero Hedge delivers the worst flaying of old media since the centurion scourged Jesus in “The Passion of the Christ.” (Caution: that video link is beyond graphic)
  • It is way beyond time to stop talking about the economy in terms of the Dow and start talking about it in terms of jobs. (That said, this blogger seems not to grasp that we’re already having a class war, and as Warren Buffett has famously observed, the rich are winning.)
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