Time magazine has an article up discussing the need for a potential bailout of the media industry. What have we come to? If this nonsense keeps up we’ll all be working for Uncle Sam soon, so we should start stocking up on red white and blue material now so we can make the uniforms we’ll be wearing while we serve our new Federal Government Overlords. I’m going to start sewing - I’m a big guy and my government uniform is gonna take awhile. You should read the article from Time Magazine so that you can fully appreciate what America is sinking into.

One of the oldest newspaper chains, Journal Register, went bankrupt late last week. It had too much debt and too little operating income. The daily newspapers in Philadelphia have also filed for Chapter 11. There have been rumors, almost certainly untrue, that The New York Times (NYT) will run low on funds to pay its debt. In the case of The Times it has valuable assets to sell, but its situation deteriorates each quarter. By most estimates, its second largest property, The Boston Globe, loses $1 million a week.

I woke up Friday morning and did my usual perusal of the news. With all of the action taking place in Gaza this past week I expect to see plenty of news about this. The headline that greeted me, however, was one mentioning that Obama wanted the DTV Transition to be pushed back. According to the media, and a number of U.S. senators, we cannot risk millions of Americans going dark on February 17th. This is all so silly I’m not sure where to start.
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Mainstream media is late to the party again. This article from the NY Times discusses some of the problems with the massive tax breaks handed out by President Clinton to encourage people to buy and sell homes. The media has been heaping all of this trash on the door step of George W. Bush for the past 12 months and now they acknowledge some of the problems conservatives have been discussing for the past year. I guess they didn’t want to talk about it while they were trying to get Obama into the White House. The Media is a decrepit and obsolete institution with no value left in it.