the article's writer states :
Where is all this going?
Nowhere good, is the broad consensus. Those who have long been sceptical about the validity of European Monetary Union are chortling with schadenfreude as the Eurozone's weaker members, sometimes offensively known as the Pigs " Portugal, Italy, Greece and Spain " struggle to make ends meet inside the (relatively) strengthening currency, with weakening competitiveness and ballooning deficits exposing what the sceptics see as the innate contradictions of yoking economies as different as Germany's and Greece's in a single currency.
the writer is not offering any evidence that if the european countries still had their own currencies there would not be any demonstrations or riots .
"unrest" has broken out periodically in many countries around the world - why should the european countries be any different ?
journalists have to look for "news" - and shocking/disturbing news usually get much better coverage than "ordinary" life .
after all who wants to read that such-and-such a country has no shocking /disturbing news - the writer wouldn't hold his job for long .
the frontpage of any newspaper or newsmagazine usually has to portray something that will arouse the interest of readers - not everyone wants to read "good housekeeping" or "O" all the time .
even STAR offers its readers some enticing and juicy headlines .
it so happened that yesterday i listened to an interview with a professor of journalism . he said that newspapers are on deathrow and likely will not be given a reprieve .
many newspapers in north-america have already given up and more will follow .
"the newspaper industry is dying before our very eyes"
The Tribune Co., which owns the Los Angeles Times, the Chicago Tribune, The Baltimore Sun and other dailies, the Chicago Cubs and 23 television stations, has filed for bankruptcy. The New York Times has said it will sell or mortgage its headquarters building. The Detroit News and the Detroit Free Press, a joint publishing operation, announced that they will limit newspaper home delivery to Thursdays, Fridays and Sundays while selling printed copies at newsstands seven days a week. They said their Web sites will expand news coverage.
Finally, Editor & Publisher reported that Fitch Ratings, the credit rating firm, issued a report declaring it "believes more newspapers and newspaper groups will default, be shut down and be liquidated in 2009 and several cities could go without a daily print newspaper by 2010."
about the only hope for actual (printed) newspapers to survive is to find a super-rich publisher who would like to have his own mouthpiece .
a/t the professor , one british newspaper has already been taken over by a russian oligarch who likes the prestige of owning his own newspaper .
| 21.01.2009 | 14:00 UTC
Ex-KGB Russian oligarch buys British newspaper
A Russian billionaire businessman has bought a controlling share in London's Evening Standard newspaper. The former KGB agent Alexander Lebedev will acquire more than 75 percent in one of Britain's oldest newspapers for a nominal sum. The Evening Standard has suffered sliding sales due to increased competition from free newspapers. Lord Jonathan Rothermere, chairman of parent company Daily Mail and General Trust, said he was conviced that Lebedev would continue to invest in the Evening Standard.
and "the new york times" has accepted a large cash infusion by a mexicaan millionaire :
Mexican Millionaire Bails Out the New York Times
Posted on 22 January 2009
Tags: Financial Climate, Millionaire, Money News, New York Times
It has been confirmed that the Mexican millionaire, Carlos Slim will be lending the New York times $250 million in an attempt to refinance their existing debt. The company will be paying 14% interest on this loan which will in turn increase the millionaires share from 6.9% to 17% in the future.
they ar deeply in trouble already and are taking out a loan at 14 % - do they really think they'll be able to repay the "loan" ?
there is an old newspaper slogan : "publish or perish" and it's never more true than now , i believe .
btw has anyone noticed how quickly the numbers of pages published by newpapers and magazines are shrinking ?
i'd hate to see "printed" newspapers disappear completely - but i wonder if the trend can be stopped ?