Murdoch’s Troubles Reverberate

We searched Google News in vain Wednesday afternoon for the latest, presumably sordid, developments in the U.S. budget crisis, finding instead only stories about the lethally hot weather that has blanketed much of the U.S., the apparent death of three hikers swept away by a waterfall at Yosemite, and yet one more setback between players and the NFL.  Google’s story-of-the-hour concerned an unlikely Internet hero, Rupert Murdoch’s wife, Wendi Deng, who has come to the media baron’s defense with the ferocity of the proverbial house ablaze. Murdoch’s chief offense, as far as we can tell, is not the sleazy tactics his reporters used to ferret out very private information on certain people, but the blatantly political uses to which he has put some of that information. Not that every politician in the U.K. is his sworn enemy.  Like any businessman who owns a newspaper, Murdoch has played favorites, and it is presumably only those whom his sensationalized reportage did not favor who have mounted an all-out assault on his publishing empire.

There are rumors that Soros is behind it all, but if this is true, he is even cleverer and more devious, although not more treacherous, than we’d given him credit for.  It’s one thing for Soros to plot the destruction of a currency, but quite another for him to surreptitiously attempt to maneuver one’s formidably-armed enemy toward ruin.  If Soros has indeed been a prime mover against Murdoch (as he may well have been against Fox network’s fallen matinee idol, Glenn Beck), it is unlikely to be revealed in the explicit manner of accusations that Murdoch brings against him.  Rather, we should expect certain details harmful to Soros’ reputation and his far-flung business empire to dribble out over time.  Moreover, because Soros keeps such a high-profile, it shouldn’t be much of a challenge for the demons of Fleet Street to find out exactly what he’s been up to.

Watergate Wannabees

And speaking of Fleet Street, one thing that seems to have gone largely unmentioned amidst the scandal is that the reporters who work for British tabloids like News of the World, The Daily Express and The Daily Mail are the very best at what they do.  Even the lowliest cub reporters at these papers perform their duties with the kind of diligence and persistence that has been absent from U.S. journalism since the days of Woodward and Bernstein. Ironically, it was Woodward/Bernstein wannabees who killed old-fashioned reporting in America. By 1975, J-schools were churning out graduates by the thousands who were hell-bent on Making the World a Better Place. Crusaders all, they pursued the job as a profession rather than a trade, relegating the sometimes challenging task of getting one’s facts straight to secondary status beneath the Divine mission of elucidating Truth.  And that, unfortunately, is what has made American newspapers so dull that tens of millions of us have stopped reading them.

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  • Rich July 22, 2011, 7:59 pm

    No sense in posting further if posts are disappeared…

  • ricecake July 21, 2011, 6:39 pm

    More and more people are getting their news from John Steward’s daily show. Pretty soon they will get their news from the Tabloids. So far most of the shocking news “rumors” coming out from the tabloids about the world’s VIPs and celebrities all turned out to be the truth later .

    Murdoch can be a balance act too if he set up a balance -check system in his empire. That means playing with both sides. We need the stinker like him to watch to spy on the corrupt business interests and politicians.

    • Robert July 21, 2011, 7:56 pm

      “So far most of the shocking news “rumors” coming out from the tabloids about the world’s VIPs and celebrities all turned out to be the truth later . ”

      Go watch the 1 hour youtube video I linked to above if you want to see just how correct your assessment seems to be.

  • roger erickson July 21, 2011, 4:31 pm

    Comrade “Yu believes that from 1929 to 2009 the purchasing power of the greenback has declined by 94 percent. ”
    http://english.aljazeera.net/indepth/features/2011/07/201172112131180590.html

    It’s amazing how fixated people become on absolute magnitude of fiat numbers. Exchange rate of a floating Fx fiat currency would matter, IF either the supply or our access to it were fixed (which would refute “fiat”).

    So, for the dull witted, we seem to have a Catch-22. Solution? Since our population is fantastically better off than it was in 1929, why it must be that the supply of fiat greenbacks has risen by some n-times-94%. Wow! What a concept. Better sit down, or you might fall off the flat earth.

    Now, can we move on to relative distribution & mis-allocation of collective wealth? Or would we prefer to be good sheople & be continue to be easily distracted?

    Analogy: If you’re in the Marines, and you want to win a way, you should encourage 5% of the soldiers to hoard 90% of the weapons & ammunition. Brilliant! Wrkz fur meeeee!

    • Rich July 21, 2011, 6:38 pm

      USD/SPX down -56% in 2 years.
      TNX/USD down -73% in 15 years.
      SPX/GOLD down -84% in 12 years.
      USD/GOLD down -88% in 10 years…

  • gary leibowitz July 21, 2011, 3:21 pm

    Murdoch, Glenn Beck and SOROS in the same sentence? Yeah I can see where these articles are unbiased to the extreme.

    Murdoch denied ever having any knowledge of what was going on and so has his son. Believable? Then the question was asked about 2003 when the same charges came up. I guess he really is an old man that just can’t remember anything.

    I find it perplexing how intelligent people can watch Fox Media and not come away with the notion that this is just another reality show that is staged better than Houswives of ….

    The muslim, flag hating, african born President only one the election because of the DNC’s fraudulant tactics.

    As for the need to balance the budget and the spend devil take care attitude of the Democrats, I just keep wondering where were these savior Republicans during the BUSH era? 10 trillion dollars for the richest americans and not one article or suggestion that that alnoe could have balanced the budget. AMAZING!

    Lets keep trying to apply the “survival of the fittest (richest)” slogan when it come to how the american government should govern.

    BTW, does anyone realize that every economic crash resulted at the peak of power and earnings by the top 5 percent. I guess we should ignore that minor fact and concentrate on how to make america great again by plowing an ever higher plateau for the rich.

    Do I sound angry?

    • Rantly McTirade July 21, 2011, 3:33 pm

      The Obozo WON(not the numeric) the election because the Republicrat side of the coin nominated McInsane, a literally loony neo-con delusionist in the middle of the biggest deflationary market crisis in 75 years, The Demopublicans could have put up Sylvester the Cat and beaten McInsane.

    • rmsimc July 21, 2011, 4:24 pm

      GL – Were you drunk when you typed this?

    • Rick Ackerman July 21, 2011, 5:35 pm

      Like those who rant about Limbaugh, 99% of them have never watched Beck’s show. If you have evidence that Beck ever got his facts wrong, let’s hear it.

    • gary leibowitz July 21, 2011, 6:30 pm

      Rantly,

      Obama won because of both republcian nominees.
      Add to that mix a financial meltdown.

      Had not both been in place he would have lost by over 10 points.

      I can’t comprehend where we would be today had they won.

    • gary leibowitz July 21, 2011, 6:39 pm

      Rick,

      Beck’s race baiting and fringe conspiracy claims isn’t enough?

      Washington Post said it best in their article
      “why-glenn-ceck-lost-it”.

      http://www.washingtonpost.com/opinions/why-glenn-beck-lost-it/2011/04/06/AFNEgnqC_story.html

      &&&&&&&

      Yeah, right, like the Washington Post is going to give us the straight story on Beck. I want to hear it from you, Gary: a single instance where you caught Beck race-baiting or making a conspiracy claim that wasn’t amply supported by facts that anyone could verify. RA

    • Robert July 21, 2011, 7:51 pm

      “Do I sound angry?”

      Yes, Gary; but you sound angry at the wrong people, for the wrong reasons.

      Concentrating on how to make America great again by plowing an ever higher plateau for the rich? Really?

      You make it sound like the only to get rich is to be corrupt, which is not the case at all- that is merely the EASIEST way to get rich, but I agree with you- it is ugly, and it has no place in the civilized world (regardless of whether that world is a right wing capitalist paradise, or a left wing socialist utopia)

      Favoritism is human nature- therefore it must be acceptable within a private enterprise, capitalist market based economy (ie: the “We reserve the right to refuse service to anyone” mantra). But, the moment private enterprise capitalism is supplanted by public enterprise corporatism, said favortism has to be replaced with legal fairness.

      Favoritism in the corporate business environment fosters discrimination, and that is the very definition of corruption and it is WRONG.

      So, be angry. But PLEASE understand where to focus your anger. This isn’t about right versus left, it is about fair versus unfair.

      It is about just versus unjust.

    • Jill July 21, 2011, 7:54 pm

      C’mon, Gary. You are not new to this blog. You know vrey well which side it leans to, consistently and unwaveringly. Politics is like religion in the U.S. Everyone believes what they believe, and there is nothing that changes that. Many people enjoy expressing themselves and ridiculing those who disagree with them.

      But many people get all mad and “have a cow” if anyone disagrees with them. No point in discussing it. Nothing changes, and no problems are ever solved in this way. And if you do choose to discuss it, you are likely to end up feeling the same way you would feel if you opened your door to those traveling missionaries who try to convert everyone to their own particular religion.

    • Mario cavolo July 21, 2011, 10:48 pm

      Hi Gary! I’ll go along s Jill your focus seems misplaced. We,re all capable of arguing intelligently here at ricks , even with passion , and that’s what makes rick’ s forum unique. I recall a few week’s back I wrote a thought about china and Marilyn challenged me to further my answer , to be more practical about why what i zaid about china matters, so I really thought about it and made a halfway decent list in reply.

      I don’t regularly watch the popular talking head shows but I appreciate when any one of them makes a sensible argument and approach backed by good facts , stats and background, politics and other biases aside.

      Cheers Mario

    • Robert July 21, 2011, 11:46 pm

      Gary/ Jill-

      Another article posted today that supports the argument that any directional “right versus left” arguments will most certainly miss the REAL target:

      http://www.washingtonsblog.com/2011/07/debt-ceiling-crisis-being-used-as-shock.html

      This is not about right versus left- it is about right versus wrong.

  • PhotoRadarScam July 21, 2011, 2:56 pm

    “as he may well have been against Fox network’s fallen matinee idol, Glenn Beck”

    Fallen idol? How so? GB had top ratings in his time slot until the day his show ended. The left contends that he was fired, but when was the last time a network canceled a top-rated show? Don’t believe everything you hear.

    • Rick Ackerman July 21, 2011, 5:32 pm

      Fallen because he lost his show, not because of the ratings. For the record, I liked Beck, and my wife never missed his show, but the chalk-talk format had become tiresome to watch. I doubt his ratings were at their peak when Fox announced it was cancelling his show.

    • PhotoRadarScam July 22, 2011, 4:20 pm

      I don’t believe he “lost” his show. GB quit. I did take a look and I don’t remember the details, but while ratings may not have been at the peak, they were still up there. Fox would never cancel a show that had ratings like he did. No network would be that stupid.

  • SteveJ July 21, 2011, 1:45 pm

    What is also missing from the NotW scandal is the then widely reported fact that Tony Blair flew to Rome to negotiate with Berlusconi the purchase of an Italian newspaper by Rupert Murdoch.
    Influence, bribery, or sleaze?

  • beau July 21, 2011, 5:30 am

    Hard to believe R.A would defend Mordock and throw blame at soros or wherever it will stick …..but this is the m.o of statists.

  • John Jay July 21, 2011, 4:46 am

    Murdoch will act contrite and buy his way out of it, and have his revenge served cold later on.
    Meanwhile back in the States, it seems raising the debt ceiling will solve all our problems.
    Nice to know DC has switched over to the Abbott and Costello school of accounting, where 1+1=3.
    http://tinyurl.com/3jm3rvg
    After the “Banana sketch”, watch “13×7 is 28”
    “Smacked around by the landlord” and “Niagra Falls” are hilarious non math sketches, still funny after seeing them a hundred times over the years. You might just as well laugh about it all, because I see no chance of Congress coming to their senses, they are on a bad acid trip for the duration.

  • 3 Lions July 21, 2011, 3:37 am

    I am English, living in Colorado.

    Question 1. During the hyperbole of the world stock bull market over the last 2 decades would Murdoch’s 160 year old newspaper ‘The News of the World’ in the UK have closed down because of this issue? The answer is no! In the UK we have had far worst journalistic scandals than this during the bull market that were brushed under the carpet. Therefore the conclusion is that we are now in a multi-decade bear market.

    Question 2. If Murdoch was really making millions from his ‘News of the World” would he have closed it down almost voluntarily? Not on your Nellie! Mainstream media in the west is up queer street. Murdoch wanted rid of something in the mainstream media becuase of the bottom line and the NotW was the sacrificial lamb especially when you consider his political connections which would have allowed him further publication. If he wanted to he could have kept the NotW no problem.

    The plain fact of the matter is that western media is desperate. Gradually, as intellectuals – which in terms of the mainstream media is anyone with half a brain nowadays – have turned to internet blogs, mainstream media has dumbed down further and further to appeal to scandalmongers; effectively its last audience. The further it has ‘dumbed’ the more desperate measures it has had to take, like hacking into phones of families of deceased people etc. and reporting on front pages about the TV programme ‘Big Brother’. Even in sport the vitriolic mainstream press commentaries about the England football [soccer] team has turned many a supporter away from the mainstram press and you can’t get much more dumbed down than an English football supporter. It has caused several England footballers to retire prematurely as well.

    There is a fundamental difference in news reporting in the USA to the UK. 2 inches of rain in Broomfield, Colorado falling in 24 hours supersedes any major political or economic event that affects planet Earth generally. 2 inches of rain in Mansfield, England (and they need all the publicity they can get) wouldn’t see the light of day on TV in the UK. A guy sets fire to himself with petroleum in the Middle East precipating the ME riots and it is all over the US media – fair enough. A guy in the Mid-West USA does the same thing a couple of weeks later because of his dire economic predicament and it isn’t mentioned.

    At the end of the day it demonstrates that mainstream media in the US is totally controlled by politicians and is on its last legs and in the UK at the very least politcians are in the pockets of moguls. This in itself suggests that the most extreme measures are being taken to perpetuate this fallacy of economic virility by mass populace control. The fact that we have a news item both sides of the Atlantic day in day out which has involved Murdoch, Cameron, George Soros & Hugh Grant and heavens knows who else taking precedence over the the US debt ceiling crisis tells us that all is not as we are told. Times are changing. How I yearn for the days when Soros would have taken it out on UK strerling and not some publishing bloke.

    If this was just a question of malpractice at a newspaper, or one crooked politician or a Hollywood star trying to make a non-acting name for himself then it would be of passing interest. It is not. It is representative of the squalid hierarchical world of international business and politics where both go hand in hand for the benefit of the other hand and the total disregard for the people they represent. This cannot last and will not last because this is a deflationary bear market but how long it takes for those sweaty hands to slip apart remains to be seen. I suspect it will be quite some time after the England football team has failed dismally in the World Cup in Brazil in 2014 however so messrs. Rooney & co. are in for at least one more ‘journalistic telling-off” – we use slightly different terminology in English football circles!

    • Rich July 21, 2011, 4:21 pm

      Bravo 3L.
      Used to enjoy a 3L pub in England…

    • Robert July 21, 2011, 7:39 pm

      Bravo 3 Lions.

      “A guy sets fire to himself with petroleum in the Middle East precipating the ME riots and it is all over the US media – fair enough. A guy in the Mid-West USA does the same thing a couple of weeks later because of his dire economic predicament and it isn’t mentioned. At the end of the day it demonstrates that mainstream media in the US is totally controlled by politicians and is on its last legs and in the UK at the very least politcians are in the pockets of moguls. ”

      Agreed- Here’s another egregious example of the Western press being coerced into abandoning controversial journalism in order to protect politicians:

      http://www.youtube.com/watch?v=weSzkIB8184