After about 12 years of subscribing, I had to cancel Forbes. Actually, I just let it go unrenewed.
I'm a bit depressed in having to do this, but Steve Forbes had it coming. You see, tough times are expositive events. When people, institutions, businesses, and governments are confronted with hardship, that's when you find out what they're really made of.
In short, Forbes foundered and flailed last year amidst the downward economic inflection. The magazine has taken to supporting bailouts of industry, of bondholders, and of stockholders. All illusions of it being a *free market* vanguard have disappeared into thin air.
Furthermore, Forbes joined the cabal of plutocrats - many of whom are pure socialists - in vilifying traders, short sellers, and hedge funds. They've been using the force of Big Government to unfairly change the rules of the financial markets in the middle of the game. In doing so, they've severely hampered the ability of prudent, legitimate disinvestors from protecting OUR ASSETS.
Oh yeah, and they're also guilty of effing retail investors, taxpayers, and future generations of America - all so their net worths can be artificially propped up.
This was a most reluctant and sad decision for me. In many respects, Forbes was my MBA program. Although I studied economics at UPenn, it was nothing to the real world microeconomic study I got every two weeks in Forbes. For many, many years I was excited when the publication came in the mail. How often in this life can one get entertained and edified all at once for what, a few bucks a pop?
It's really the management and editors that are guilty. The reporting is still first-rate and a great read, but I can't in good conscious subsidize an entity that uses my money to politically persecute my livelihood.
If I did, I'd be as Moronic as a working-class stiff or a poor person who thought the New York Times was on their side!
See also:
What Real Estate Bubble
Cyclical Hypocrisy On Wall Street
Perma-Optimism Dementia
Marginalizing Ken Fisher - An Unapologetic OPM Loser
Marginalizing David Malpass
When Experts Malfunction
8 comments:
Well said, and bravo for pulling the plug on Forbes!
Alright, thanks.
Now, Sir P, when are you going to cease making that Forbes blog *readable*?
I am still on vacation, and had a look at SocialistRules, it is certainly a shadow of its former self.
I owe you a belated congratulations on this one, well thought out comments on the Forbes blogs are like pearls for swine!
It stopped being a *blog* when Rich decided to remove himself from the conversation.
I predict that non-blog gets cancelled or *re-purposed* soon.
I had to check out on it because my time is short and can be better spent teaching my kids, working on my own blog, and managing my crappy trades.
I literally don't have 10 minutes to even drop in on Digital Rules - even if it was still a good blog.
I think the non participation of Rich started when I publicly assumed that his friend Dave (The Slumlord) depends on government remittances, and should not be upheld as an example of entrepreneurship.
I have the same fond memories of receiving Forbes as a student, which was putting Money and Fortune to shame as imbecile magazines in comparison. It is sad the publication cannot promote as pure capitalism as can exist with a central government.
Wait, I thought it was MY caustic commentary - esp. the time I accused Rich of craving organic cage-free chicken burritos from Whole Foods?
Or, was it SirP's incessant badgering that turned off the conversation?
Skalla, you're an underdog suspect in this mystery!
*New media* is all about dialogue; thus far, Forbes has proven itself very, very *old* - a bunch of nattering nabobs of positivity!
We should fix that...
How about - prattling potentates of positivity?
Or, prattling princes peddling positivity?
Probably too wordy. Let's forget about those dinosaurs.
It is indeed certain you hit a nerve with the car talk, I am quite sure Karlgaard´s garage is no Prius virgin!
I have indeed held back quite a few comments, following basic rules of respecting ones host, for example following Rick´s statement that illegal immigration does not matter to the average voter, I was also wondering what planet he was living on. I guess that gives me some underdog status. But I am the observant underdog that wakes up the hounds!
Are you hinting about making a new multi host blog, or conquering an existing one?
No multihost blog on the horizon.
This blog is an instrument of my own self-amusement, er auto-gratification!
I ride alone.
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