The shutoff of the QE faucet has an obvious and mechanical effect on stock crime and bitcoin crime. All frivolous nonsense is collapsing, which means the ENTIRE bitcoin nonsense is imploding.
I wonder if a more subtle collapse is also related. When money is free to the Correct People, the Correct People are free to be frivolous in other ways. They’re free to indulge in Woke shit, free to support riots, free to offend half of their customers.
As the era of Share Value fades, these activities are also starting to fade. Even CNN is considering the possibility of mentioning a fact once a year.
Real profit exerts HEAVY DISCIPLINE on real companies. Businesses who NEED CUSTOMERS are not free to drive away half of their customers with grotesque pro-violence statements and bizarre anti-cultural insanity. In the era of profit, companies simply kept their fucking traps shut and sold real stuff to real people.
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Later: Here’s an open admission from a “journalism” company, reported expertly by Denyse again.
Gannett has been losing money for several years, and has decided to cut out opinion and editorial pages. The admission:
The editors added opinion pieces are among the least read content published by Gannett. Simultaneously, they are the most cited reason when subscriptions are cancelled. While the company recognizes editorial sections are part of traditional models for print publications, the company believes they are “repelling” readers.
Newspapers have been ferociously repelling readers for a LONG time, and it’s broader and deeper than R vs D. When I first moved to Spokane in 1991, I subscribed to the local paper. At that time I was politically ordinary, voting happily for Clinton in ’92. I was aligned with the newspaper in a partisan way. But the paper constantly PUNCHED ordinary people in the face, insulting us and treating us like shit. I stopped subscribing.
As Batya has been saying, it’s all about CASTE, not CONTENT.