Three observations: The NYT runs absurdly large ad on homepage due to their financial problems…. while an art auction sets record prices… while the stock market crashes to 1997 levels. What do we make of this?!?!
Three observations from the NYTIMES.COM's website
Published
Time to stock up on cans and water in my shelter?
To use a Battlestar Galactica expression … it goes to show how “fraked” our society is.
Regarding the art sale:
(1) The art sale was a collection of unique pieces that have low velocity in change of ownership making some a 1-time buying opp
(2) The large dollar volume of the pieces might be attractive as an alternative to investing in a secondary capital form, like gold; the large dollar volume concentrates your wealth
(3) Art is sometimes thought of as an alternate hedge against inflation
Nothing has changed and all the indicators from the economical market to the luxury market point consistently to the fact that the economy is under extreme stress. The Govt has printed trillions of dollars and inflation although existent will soon become extreme. The Govt has to find funding for 3 trillion dollars to rollover its debt this year. It is not going to happen when China has 70000 factories closed in the last year and Japan who was able to recover somewhat from the “lost decade” by exports now has to service its own massive debt that is over 100% of their gdp and have a fast greying population that Japan will soon have trouble making social security payments to.
Obviously, if you want insurance you buy gold. Or for some, art.
hmmm, stock market = screwed. So the businesses it’s based on = screwed. So that’s advertising screwed. And the media too then. Better invest in something else!
hmmm, stock market = screwed. So the businesses it’s based on = screwed. So that’s advertising screwed. And the media too then. Better invest in something else!
No comments? I think this is an interesting observation. Trying to squeeze blood from the rock.,..
Good point. They certainly are walking a fine line between
pushing content and pushing ads. At the point, I feel they belivee
they can get away with it, as other media sites do it to, so
users may put up with it, since the content is free.