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a little wisdom
It’s hard to imagine anything more perfect than Slate’s decision to lay off its respected media critic Jack Shafer . Not perfect in a good way — I count myself amongst Shafer’s legions of fans — but perfect in the way that Alanis Morissette not understanding the meaning of ‘Ironic’ is perfect, or the way that a safety inspector falling out of a tenth story window would be perfect. “I tolllldddd yyoooouuu sooooooo…” I mean, what better illustration could there be of online media’s woes than an ezine laying off its media critic because the economics of web content don’t support a writer of his stature and specialism?
"A growing economy consists of prices falling, not rising." The stock market does not work the way most people think. A commonly held belief — on Main Street as well as on Wall Street — is that a stock-market boom is the reflection of a progressing economy: as the economy improves, companies make more money, and their stock value rises in accordance with the increase in their intrinsic value. A major assumption underlying this belief is that consumer confidence and consequent consumer spending are drivers of economic growth. A stock-market bust, on the other hand, is held to result from a drop in consumer and business confidence and spending — due to inflation, rising oil prices, high interest rates, etc., or for no reason at all — that leads to declining business profits and rising unemployment.