Professor Bob McChesney and journalist John Nichols talk about the perils of a shrinking news media landscape, and their proposal to save journalism with (ugh) government subsidies. They have some very valid points of discussion, especially the part about the shift from true investigative journalism to corporate and government propagandas.
Their discussion of the importance of free press to democracy is mostly valid. Of course directly subsidizing media is controversial. I would contend that what they advocate is a much more important function for government support than what we are currently experiencing by subsidizing the financial, insurance, mortgage, housing, auto, and insurance industries. Did I leave any out? Of course I did, there are the farmers, the military industrial complex, the list goes on and on.
I will point out again, though, something that they do not discuss. That is that by pandering to special moneyed interests, the “mainstream” media has largely made itself irrelevant to thinking Americans. A cleansing was due, and as long as CNBS is still on the air, the cleansing is not yet complete. Actually, this supports their notion that the model may work better when government subsidy underlies FREE CHOICE in receiving media.
It seems to me that what is occurring in the media should be an important subject of debate. (ht Backwardsevolution)
Economic News , Data & Views ....... October 1 , 2016......Quick Hits For Saturday - 1) Chinese Data ( Sept Manufacturing PMI ) , HK Retail Sales , 2 Trillion EZ Sovereign Bonds Less Than ECB Deposit Rate Presently , Doug Noland Weekly Summary Of Market & Missive - Focus On DB . 2) Deutsche Bank - Wild Ride Of a Week Over , Sifting through Aftermath. 3) Around The Horn - European Items For Saturday - Spain - Critical PSOE Meeting A Shambles So Far ( Time Of Posting ) , Greece Items For Saturday , Germany In Focus , UK Items De Jour , Hungary Referendum On Migration & Quotas In Focus . 4. MENA Round Up - Libya , Syria , Iraq & Yemen Items For Saturday.....
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