Eccentric Flower:200910/TGTBATYKW2

From Eccentric Flower

«October 2009 «Eccentric Flower

TGTBATYKW2

The Good:

Economist leader says we need bears. No, not that kind of bears:

But the world needs to nourish its bears. They were right about most things in the past ten years: dotcoms and American houses were indeed overvalued, and rapid credit growth did make America's financial system and the global economy vulnerable. It was bears who asked awkward questions of Enron, a failed energy-trading company, and who were most sceptical about the structured-credit products that now clog up banks' balance-sheets. This decade, investors have lost more money listening to the bulls than to the bears.

So when the bears say, as they do now, that the stockmarket rally is built on sand, they are worth listening to. On historical measures, Wall Street looked cheap only briefly, earlier this year, and now looks expensive again. The rally has once more been driven by interest-rate cuts. That rich-world central banks feel the need to keep rates close to zero shows how many economic problems remain.

Legend has it that Roman generals, when making their triumphal marches, were followed by a slave whispering "Remember, you are mortal." The bears play that role for investors. Their arguments should be countered with reason, not ridicule. And the right to sell short should not be restricted arbitrarily. If regulators want to prevent future bubbles, they need to let the bears roam as freely as possible.

Since whispering "Remember, you are mortal" to the hubristic is my dream job, I heartily endorse the sentiment in this article.


The Bad:

GOURMET IS FOLDING! GOURMET IS FOLDING NOOO AAAAAAGH HOW CAN THIS BE


The ...:

Well, you decide; I think it's hilarious.


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Peebles:

Maybe this means Sarah Moulton will have time to do her TV show again?

-- 19:52, 5 October 2009 (BST)


Jette:

But aren't you the one who says that print is irrevocably dying and there's nothing we can do about it? So why are you surprised that magazines are folding?

-- 20:06, 5 October 2009 (BST)


Columbina:

I had no reason to believe that Gourmet's subscription numbers were down. They did not show any of the signs of a magazine in its death throes.

Also frankly I keep hoping magazines will survive better than newspapers: 1) Niche markets; 2) People who wouldn't touch a newspaper with a ten-foot-pole will read glossies with pretty pictures; 3) No dependence on classified ads, which is where newspapers really got shot in the foot. I am inclined, even now, to think this is more a function of the bad economy and declining spending on luxury items than any real decline in Gourmet's membership (e.g. people still want to read it but they're not buying overpriced Calphalon pots and $200 balsamic vinegars).

-- 20:14, 5 October 2009 (BST)


Joy:

But, wait, you neglected to mention that MODERN BRIDE is folding as well! Whatever is a girl to do?

-- 20:21, 5 October 2009 (BST)


Nonelvis:

Peebles, I'd love to see Sarah Moulton back on Food Network, but her show was deliberately punted (along with Mario's) as being, I kid you not, too educational. The execs wanted shows that were more entertainment-focused and had marketable personalities.

-- 20:24, 5 October 2009 (BST)


Ursula:

"You are mortal?" I've always heard the line was "this too shall pass."

-- 21:32, 5 October 2009 (BST)


Spc476:

If Moulton and Mario were too educational, what about Alton Brown? Will he, too, be on the chopping block? (and will Ted Allen do the chopping?)

-- 22:53, 5 October 2009 (BST)


Nonelvis:

Alton is marketable, and while TFN might not have a cut of some of his early books or merchandise lines, they might well now. (Just like they get a cut of the Rachael Ray stuff, and were specifically looking for a Next Food Network Star they could build a brand around.) I doubt he's going anywhere.

-- 02:47, 6 October 2009 (BST)


Mel:

I have noticed that some of my magazines (Time, in particular) are really, really thin these days. Then others (Martha Stewart Living) are still awfully thick. I know that page count doesn't necessarily translate straight into financial health, but it's interesting. I also picked up a September Vogue in the store one day lately, and while it was still very hefty, it wasn't nearly as big as it was at its peak a couple of years ago.

Columbine can tell you that Gourmet is not my kind of thing, nor do I watch the Food Network. Actually I don't know why I get Martha Stewart Living, either. With the exception of craft stuff, I am incredibly not domestic.

(Come to think of it, Modern Bride folding surprises me more than Gourmet does. I thought bridal magazines were automatic money-makers, even nowadays.)

-- 07:20, 6 October 2009 (BST)


Bunny42:

I canceled my subscription to Time years ago, after counting how many pages were nothing but ads. Out of 100 pages (at the time) 78 of them were ads, mostly full-page ones. I had to search too hard for content, and most of the time, the search wasn't worth the effort.

I love Martha's magazine. She's such a snob, but an elegant one. I like the way she just assumes that everybody lives that way. Every photograph is lovely. The recipes are generally way too complicated, but some of the craft projects are really cool. Does she still have a monthly calendar? Do people really do all that stuff? How??

-- 15:31, 6 October 2009 (BST)

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