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Why Mainstream Media is Imploding

The mainstream media continues to lose favor at alarming rates. Newsweek and Time Magazine have fallen on tough times. NBC is an albatross that GE is trying to rid itself of.

More Americans turn to the “alternative” media for their news. For the upcoming generation, who seem lost without a cellphone in their ear or an I-pod or pad available, a cultural shift may be occurring. Most of this generation, unfortunately, is social networking rather than learning. Understanding important issues requires length and depth, for which these devices are mostly ill-suited. And so is the generation infatuated by them.

For older generations, other than timeliness, it is uncomfortable reading long articles off a computer screen, especially ones that are hand held. Yet even as we watch less mainstream media we seek more of our news and information from the internet. So, what is behind the increasing irrelevance of what once represented the overlords of the news?

The answer is is contained within the question. The term “overlord” is the key. The intelligent reader does not want someone filtering news for him as the media has done for years. As an example, The NY Times’s had the hubris to adopt the slogan: “All the news that’s fit to print.” According to whom? A bunch of out-of-touch elites in NYC?

The internet dispelled the myth that you are getting “all the news” or even all the news “fit to print.” The public now knows their news has been carefully screened and managed to favor one side of the ideological spectrum. Other than liberal arts departments in higher education, there is no area more liberal than the mainstream press.

Information made available by the internet has blown the cover of the mainstream media. Increasingly they are viewed as a partner to the political elite rather than a check and balance.  For many, the mainstream media is little more than a public relations firm serving large, statist government.

The institution of central banking and its role in the economic crisis has been especially vulnerable to alternative media coverage. According to the Daily Bell:

The Internet, with its combination of narrow-band and broad-band presentation has allowed for the dissemination of blunt central banking critiques along with detailed examinations of the central banking problem. Central banking is price fixing of the quantity and price of money and price-fixing is an anti-market activity that must always fail, leaving lesser or greater ruin in its wake. The result has been that the hitherto leftist oriented intelligentsia is waking up to the enormous destruction of the global central banking economy. This sort of paradigm shift must eventually be reflected in the media as well; the mainstream media must track the evolution of a culture’s intelligentsia or lose credibility.

The economic paradigms that supported central banking have also come under attack:

Milton Friedman, the founder of monetarism (the idea that fiat-money can be managed technocratically) provides a faux-libertarian antithesis to John Maynard Keynes. This allows the mainstream media Hegelian conversation to shut out the free-market, Austrian point of view. Until the advent of the Internet, it was a most effective strategy. But now that central banking is virtually imploding, the elite-dominated mainstream media must begin to acknowledge it.

These economic issues are enormously important, bringing into question the integrity and purpose of government. People now wonder whether what they have been told and taught about how the world works has validity. Once these concerns are raised, people look for information not produced by a propaganda arm of the government. The mainstream media has lost trust, viewed as having an agenda that presents only one side.

It is not surprising, especially in times of economic suffering, that people look for better sources of information. People are scared and looking for means to protect themselves and their families. Blatant bail-outs of the rich and neglect of the small guy only engender more concern regarding the nature of government.

The interesting part of this problem is what will happen to the media. Will the mainstream continue on its current path until it withers away due to lack of readership and listenership? Will some of them “convert” to a balanced approach to the news? Will others try to emulate Fox news? The financial pressures on traditional media suggest change or perish. It is likely that those who return to real news reporting rather than shilling for an out-of-control government can survive. Some are likely both fiscally and reputationally bankrupt and will not survive no matter their actions.

You will know the change is occurring when you see some of these questions being asked:

#1 The U.S. dollar has lost well over 95 percent of its value since the Federal Reserve was created in 1913.  The Fed has failed time and time again from preventing big financial bubbles from being created and then eventually bursting.  About the only thing the Federal Reserve seems to be good at is creating more government debt that the rest of us have to pay for.  So what possible justification is there for allowing the Federal Reserve to continue to issue our currency and run our economy?

#11 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.  How in the world could we allow that to happen?

#16 On January 1st, the very first of the Baby Boomers started to reach the age of 65.  Now more than 10,000 Baby Boomers will be turning 65 every single day for the next 19 years.  So where in the world are we going to get all the money we need to pay them the retirement benefits that we have promised them?  Isn’t the Social Security system essentially one gigantic Ponzi scheme?

#23 If the U.S. economy is getting better, then why are an all-time record 43.2 million Americans now on food stamps?  Are middle class Americans being impoverished by design?

To see the other questions, go to 25 Hard Questions That You Will Not See Asked on CNN, MSNBC or Fox News: