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Dinosaur New York Times in the Tar Pits

Written by Gary North on November 1, 2013

For three generations, the operational slogan of The New York Times has been this: “All the news that fits liberalism.” Now it is slowly going bankrupt.

It cannot compete with Google and Craigslist. Its advertising revenues fall every quarter. The last quarter was no exception. Revenues fell by 3%. Quarter by quarter, the newspaper bleeds money.

It is liberal. So, its audience is limited.

It is limited to the city of New York. So, its audience is limited.

It is designed for print media, in an era in which print media are dying. It has not made the transition to digital media.

Neither has the even more liberal Washington Post. Jeff Bezos just bought it for $250 million. It was worth five times that in 1995.

One by one, they are all sinking into the goo — Google.

Senior managers come and go. None of them has found a way to reverse the decline. The company struggles mightily to get out of the goo. Nothing works.

The Drudge Report is wildly profitable. It is run by a staff of two, plus an accountant — a very busy accountant. Drudge Report launched a torpedo into the side of Newsweek in 1998. It ran a story on Newsweek‘s suppression of the Lewinsky story. Newsweek never recovered. It is gone now. It sank in a sea of debt.

Liberalism is losing its grip. It bet the farm on its control over the three TV networks, big city newspapers, and education. The Web is undermining all three.

The Web is surely undermining ObamaCare, which is liberalism’s only major national legislative victory since Medicare, which passed in 1965. Healthcare.gov is the poster child of federal failure.

The decentralization of technology is the death knell for liberalism. Liberalism was based on gatekeepers, who controlled the distribution of information. These gatekeepers still stand in front of the gates, but the walls are down.

Continue Reading on www.bloomberg.com

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10 thoughts on “Dinosaur New York Times in the Tar Pits

  1. Texas Chris says:

    When Obamacare goes, so will go Medicare, Medicaid, and possibly even Social Security. A tree falling in the forest often takes other trees to the ground with it. The bigger the tree being felled, the more additional trees are in danger.

  2. Joyce from Loris says:

    All of the newspapers are losing ground. I work for one, and we are a conservative leaning publication. It doesn't matter. We have our paper on the web. It doesn't matter. The young people have moved on towards other sources of information, only the older folks want to keep up with what is happening in their small, rural town. It's a shame to see one of the most important industries in the world bite the dust. Think where our country would have been without newspapers. Our revenues are down 50% and there are only three of us left. So, this is not because of liberalism, it's because the world changed so fast, right in front of our eyes.

  3. "Think where our country would have been without newspapers…"

    Actually quite a pleasant thought. They have strenuously opposed everything I think is true for all of my life (63 years so far) I will not miss them.

  4. When a dinosaur gets old and weak, it is beset upon by the young and strong. It dies and it's carcass rots. Nothing is forever and the NYT has earned it's current state. See my blog at http://cranky-conservative.blogspot.com

  5. WhiteFalcon says:

    In the cases of the NYT and Washington Post and the LA Times and the Chicago Tribune and many others, the only thing they had to offer anyway was the funnies, and there aren't many of them left either. BYE BYE and good riddance. Now if we can get rid of the so called MSM, which I refer to as the Lame Brained Media, things will be a lot better.

  6. Good riddance. Instead of standing up for the [people, they chose to stand up fpr the Democrats.

  7. Chris, We already have the replacement for Social Security in place. It is Individual Retirement Accounts. What is needed is legislation to protect these IRAs from creditors in the sme manner tht Socuial security is protected. This means tht the principal is immune to collection procedures and only a maximum of 25% of the disbursements can be attached. Limits must be placed on the payouts to make them outlast the life of the recipient.

    To ease the transition the funding should be transferred from the FICA tax to the fund, without any contribution except that of the owner of the fund. This will provide a smooth transitition to ownership total funding as the owner will be able to make increases in the payout from the fund only after assuming full contributions, which must in any case be no longer than 5 years from the legal change.

    This change can be done effecrively, without harm to anyone dependent upn Soc. Sec., and eliminate the control of the Congress over our money that they have had ever since they revised the original plan.

  8. Joyce from Loris says:

    Just remember, just because you think it's true does not make it so. Having the opportunity to see the "other side" of a situation or a theory can only expand your knowledge. And no, the newspapers have have not done that. I am 61 years old myself, and have always enjoyed the local newspaper. The beauty of it, if you didn't like them, you didn't have to buy them.

  9. As a former print journalist, in response the the news that the NYT, WaPo and Newsweek are sunk, or listing heavily to starboard, I can only say: GOOD!

  10. I agree the corporate media has always been against the people, but they covered up the crimes of both parties. We now know the Bush administration lied about Saddam's non-existent nuclear weapons, but the networks and newspapers went right along with it.

    The First Amendment is first for the very reason the Founding Fathers wanted to protect the press from government retribution when it exposed official wrongdoing. Now, the corporate owned news outlets are just publicists for whichever party is in control in Washington.