Debt Rattle July 11 2017
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Max Ernst Santa Conversazione 1921 • Trump Bump for President’s Media Archenemies Eludes Local Papers (BBG) • How Economics Became A Religion (
[See the full post at: Debt Rattle July 11 2017]Times article is misleading. (Of course: it was written by a journalist.) The NYT is collapsing. It’s doing so well it had a strike over laying off its staff which internal memos referred to as “dogs”, including the copy editors, which is one of the few things a real paper has over a blog, and they’ve long since discontinued overseas and investigative reporting. Sure it has a small bump but they’re cannibalizing readers already in their echo chamber.
Other media is likewise collapsing, and the reason isn’t that hard to understand: something like 40% of the country is “conservative”, however you define it. Yet newspapers and editors have become outrageously, overwhelmingly liberal, such that insulting anyone who disagrees with them five times an article is considered a job requirement and civic duty. …That’s fine as it goes. It’s a private paper, and since the beginning there were papers each proudly displaying their political bias– the “Democrat” something-or-other, the “Union” or “Standard” such-and-such. However, since the 40’s, virtually all conservative papers were driven out. That’s history. At the same time, insulting and alienating 40% of your market audience is not exactly an earmark of good business. I couldn’t, for instance, rail on the inadequacy of women, how they shouldn’t vote, how their candidates should be removed for mere existence, how their entire platform was laughable and idiotic, everything they did was emotionally unhinged, and yet expect that 51% of the population to patronize me. I mean, really. Yet this is exactly what newspapers are doing. Proudly, forcefully, as their readership collapses, as year after year letter after letter pours in, telling them exactly what they’re doing. This is true of major corporations as well, who proudly get involved in social justice on one side or the other, whose advertisements are targeted toward themselves and big-city values which alienate 40% of the nation, who seem as bizarre as Effie Trinket and Caesar Flickerman from the Hunger Games. That is, not just different, not just out of touch, but aggressively, offensively, even murderously so. And then they wonder why advertising is failing to be as successful now.
It’s easy to say it’s the paper, it’s the internet, but guess what? There are quite a number of successful papers in America, who are gaining audience buy buying out these failures and printing what the audience wants and needs. Others just do their darned job and get by, Warren Buffett’s Buffalo paper being one we hear about sometimes. This is similarly true for ads, which can be a success across lines and locations if anybody cares to, and I thought the point of advertising was to not alienate your audience but inspire good feelings about your product among everyone. It’s just that they don’t. Many have no self-awareness, and tell 40% of the customers “you’re wrong and I’m doing all I can to keep you and your money away from my brand. Please don’t come here; we don’t serve your kind.” Well, mission accomplished. Now you have 40% fewer customers and 40% fewer sales.
YouTube is a stellar example. They are systematically purging conservative, verboten thoughts from their platform. Yet those channels very likely represent 40% of their content, and 40% of their customers, and therefore 40% of their ads. However you may personally feel, how do you survive a downturn by cutting your own customer base 40%? How will the advertisers, once they figure out that they’re now advertising in the same echo chamber they already have? You have to reach people with money, not just people you like–that’s one of the awkward parts of business. So the banished 40% moves to Steemit, and is unlikely to be re-captured again. Worse, part of YouTube’s model is to spy on and sell user information: YOU are their real product. What good is your information if it’s a warped subset of the nations involved? How do you sell, say, election predictions, or influence society when half the nation is missing? So…what’s the new value of your newly inaccurate, non-influential data?
Seriously, these people who make these decisions aren’t smart enough to know which end of a shovel to pick up, and deserve the untimely death they’re experiencing. IYI indeed.
“Keynes contended that…when there is a lack of demand from consumers…”
Speaking of idiots… There’s never a lack of demand. People always want all the things. There’s a lack of WAGES to buy those things with. Also if there are resources (because we can build things and warehouse them unsold), and there is demand because people want those things, then what is it that is preventing the people, those workers, from using their labor to convert the resources and make the things they want? Because I suspect if you landed in America from outer space in 1932 –or Greece in 2017– you’d be amazed at all the resources, factories, fields, railroads, and electrification enough for everyone to use. Yet somehow the population is prevented from enjoying the resources of their nation, even though they’re working and willing to work. ….And it wasn’t a “lack of aggregate demand” that was the cause.
Seriously, can we bury these stupid, provably false ideas yet, or do more people need to die first? This nonsense from Keynes simply provides cover to divert from the real people and the real problem.
Dr. Diablo, what makes you think that the purpose of all the “factories, fields, railroads, and electrification” is “for everyone to use”? I don’t think you would agree for me to use your quest bedroom when you are not using it.
The moment you buy into private ownership of the means of production you buy into everything else that comes with it. During the same years the Soviet Union had 0% unemployment. They even hired American specialists! Here is some bizarre shit. Of course there was some forced labour and alleged wife sharing too 🙂 So, pick your poison.“Gossip sells.” Trump junior has made the gossip into a smoking cannon.
Russia didn’t need anyone to do reveal negative information on Hillary or anyone. They could just have published it. Meeting only necessary for quid pro quo and by force of habit, the Trumps accepted.
As a habit, it never occurred to them that Russia was free to use the Automatic Earth to publish their negative information for an example.
Have to wonder what quid pro quos the Trump’s have given to the Russians over all the years.
Economics—period—suits the powerful best. Schools are a distraction from that fact and only shuffle the pieces on the game board. End the game, end economics, end the disproportionate power. It’s that simple (but not necessarily easy).
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