Monday, May 17, 2010

Socialism In Extremis: Greek Economy, Newsweek Head for Hades

In February 2009 Newsweek claimed that "we are all socialists now."  Prime Minister George Papandreou and the Greek government could not help but agree.  Now Newsweek is following Greece to socialist Hades.

Big reports that socialist Newsweek, following socialist Greece, is headed for bankruptcy:

"Despite staff cuts, Newsweek has remained a drag on its parent company (The Washington Post), which is also struggling with ad declines at its namesake newspaper...Newsweek is pretty much dead, and now the only question is who’s going to rouge the corpse for a few more years, if anybody, to keep its collection of Morning Joe talking heads with at least the fig leaf of meaningful employment before the final axe falls...At $5.95 per issue, Newsweek is hardly a bargain. Newsweek is your father’s magazine, and no amount of reinvention could fix that..."  

I disagree.  Were the editors of Newsweek more imaginative, they could have found a way to survive.  Newsweek's unimaginative socialist ideology is matched by its unimaginative marketing strategy.  Just as new media is re-conceptualizing the news, so might have the Democrats at Newsweek.  Back in February 2009 I urged Newsweek to move to France.  Perhaps Hades would have been a better bet.

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