Showing posts with label journalism. Show all posts
Showing posts with label journalism. Show all posts

Sunday, March 6, 2022

A Journalist's Goal

A journalist must avoid ego and hatred. Both vices block you from empathizing, then understanding all points of view. Until linguistic translations are seamless and historical facts uniform, a journalist's job is to tell stories with context, opening doors to the truth. 

© Matthew Mehdi Rafat (2022)

Saturday, July 17, 2021

Journalism, Judges, and Justice: a Neglected American Alliance

The United States, after losing propaganda wars against Russia and China post-Trump, appears to be doubling down on anti-democratic allegations while elevating Asian-Americans into visible positions of power. This hybrid strategy is too little, too late, and will do nothing to alter China's rise to superpower status. 

By now, American politicians and CEOs know their country's institutions are no longer export-ready without substantial advertising and trillions of dollars of government stimulus. To add ballast to the strategies above, they are consolidating media and using government lawyers to prosecute perceived enemies of the state. Such maneuvering, which attempts to combine a Soviet hammer with American marketing and banking expertise, will fail because it brings nothing new. 

No government, irrespective of the political party in power, is really interested in freedom of the press. All democratic governments are keen to control the media by using undemocratic means. -- Preetika Dwivedi

Six corporations already control most of what Americans see, but social media, streaming services, satellite radio, and podcasts represent challenges to crafting a united narrative. As media further consolidates, it can distract you on firmer financial footing, sidelining critical voices by drowning you in options. For example, the American journalist most resembling Edward R. Murrow or Dan Rather is British-born Mehdi Hasan, whom most Americans have never heard of; meanwhile, any American wishing to read America's most honest political commentary would need to turn to the opening letter of Larry Flynt's Hustler magazine. When a semi-mainstream pornographer is a country's most incisive native-born journalist, it is unclear how further media consolidation will assist the role of journalist as the legislature's unofficial fact-finder.

"[I]mperative is the need to preserve inviolate the constitutional rights of free speech, free press and free assembly in order to maintain the opportunity for free political discussion, to the end that government may be responsive to the will of the people and that changes, if desired, may be obtained by peaceful means. Therein lies the security of the Republic, the very foundation of constitutional government." -- Chief Justice Hughes, 299 U.S. 353, 365 (1937)

Regarding "lawfare," the current Democratic Party majority has failed to secure significant jail time against even one alleged bad actor. Republican Steve Bannon's indictment was dismissed. Republicans Paul Manafort and Roger Stone were pardoned. Army lieutenant general Michael Flynn pled guilty to lying to the FBI but was pardoned. The list of pardoned and/or convicted military personnel is long and, the occupation of Afghanistan having lasted 20 years, includes members under both Democratic and Republican administrations. 

History may not be kind to Clint Allen Lorance, Robert Bales, Jeremy Morlock, Edward Gallagher, or Mathew Golsteyn, but they can always claim they were victims of a corrupt military hierarchy, thus casting doubt on America's justice system. Such doubt means the law, designed to punish the guilty and free the innocent, cannot be wholly trusted, which in turn means American lawyers and judges cannot be trusted or believed. Doubt and legal maneuvering are not new phenomena, but when they have appeared together, the first casualty has been the credibility of the legal branch. In a ternary system where the judiciary supervises the executive and the legislature, it is not difficult to predict rot from one branch spreading everywhere. This, again, is nothing new. The 1995 O.J. Simpson trial foreshadowed issues not only within the criminal justice system, but the entire legal branch, including police departments, just as the Rodney King beating foreshadowed George Floyd's manslaughter. (The result of the upcoming Theranos trial, where a blond-haired, blue-eyed CEO is claiming she was the victim of a brown-skinned svengali, will determine whether California's justice system is capable of reform or irrevocably corrupt.)

Rot is particularly apt to spread where students lack proper civics and history instruction, and Americans who study the My Lai massacre are not taught the following facts: 1) twenty-six soldiers were charged with criminal offenses, but only Lieutenant William Calley Jr., a platoon leader, was convicted; 2) the "day after the verdict, Nixon ordered Calley released from the post stockade and placed under house arrest in the Fort Benning bachelor officer quarters. Appeals would eventually reduce his punishment to time served." 

Why didn't President Nixon pardon Calley outright? The public--including a majority of whom voted--wouldn't have tolerated it, and their political engagement allowed Congress to use impeachment to drive Nixon out of the political arena. In contrast, when a divided Congress impeached Trump, few Americans cared because Trump was already out of office. (Politics may be a show, but it must contain some substance to maintain viewership.) 

Understanding events between Nixon and Biden requires remembering what happened between the American War of Aggression against Vietnam and twenty years of Afghan occupation: the Iraq War and Guantanamo Bay. There, too, justice and judges were feckless. Iraq War criminal Charles Graner served six and a half years of his ten year sentence. Lynndie England, Graner's co-conspirator, served only eighteen months of her three year sentence. As of July 2021, Guantanamo Bay is still open, despite former President Obama's pledge to close it. After the Mahmudiyah rape and killings, justice prevailed against Steven Dale Green, James P. Barker, Paul E. Cortez, Jesse V. Spielman, Bryan L. Howard, and Anthony W. Yribe, which made it all the more disheartening to see political and judicial integrity retreat again during the Afghan occupation. In stable countries, the scales of justice ought not to wobble so much. 

Now would be a good time for Americans to re-evaluate why political parties exist. It is not only to elevate intellectuals onto public platforms so they can compete with others under transparent rules that advance the nation. Ideally, politics is played by people who first and foremost prevent corruption within government itself, thereby gaining credibility to regulate the private sector, including criminals. Without such credibility, China's one-party system will succeed against the more complex, more variegated American system of checks and balances for obvious reasons: more variety is inferior when it allows more rather than less corruption, and when it renders corruption harder to root out. 

When the United States lacked global political competition, its political negligence was understandable. Today, America's political negligence is perplexing as well as unforgivable. After all, every empire eventually expires, but whether systemic corruption is part of its history is entirely up to its people and its politicians. Perhaps, in the end, not all empires are doomed to fail--just ones that make a mockery of their judges and journalists. 

© Matthew Mehdi Rafat, active member of International Federation of Journalists as of date of publication (July 2021)

Bonus: The war crimes mentioned above are by no means an  exhaustive list. According to CNN, 

"In testimony at an Article 32 hearing -- the military's version of a grand jury or preliminary hearing -- [Colonel] West said the [Iraqi] policeman... was not cooperating with interrogators, so he watched four of his soldiers from the 220th Field Artillery Battalion beat the detainee on the head and body. West said he also threatened to kill [the policeman]. 

Military prosecutors say West followed up on that threat by taking the suspect outside, put him on the ground near a weapons clearing barrel and fired his 9 mm pistol into the barrel. Apparently not knowing where West's gun was aimed, [the Iraqi policeman] cracked and gave information..." 

However, the policeman, Yehiya Kadoori Hamoodi, "said in an interview that he did not [provide any valuable information], because he knew nothing." According to the NYT, "Hamoodi said that he was not sure what he told the Americans, but that it was meaningless information induced by fear and pain." 

"At least one man named by Mr. Hamoodi was taken into custody... and his home was searched. No plans for attacks on Americans or weapons were found. Colonel West testified that he did not know whether 'any corroboration' of a plot was ever found, adding: 'At the time I had to base my decision on the intelligence I received. It's possible that I was wrong about Mr. Hamoodi.'" (Source: NY Times, THE STRUGGLE FOR IRAQ: INTERROGATIONS; How Colonel Risked His Career By Menacing Detainee and Lost, May 27, 2004, by Deborah Sontag) 

95 members of Congress signed a letter to the secretary of the Army supporting the colonel. West was fined 5,000 dollars. He became a Florida Representative and is now Chair of the Texas Republican Party.

"There was a looming sense of doom in America, a perception that established politics had failed. Many pundits had said that--after being motivated and defined for 30 years by the Communist threat--Americans seriously needed to find a new enemy." -- Mark Lawson, The Battle for Room Service (1993) 

After candidate Ross Perot's popularity, the "unnerving burden on President [Bill] Clinton was to restore democratic equilibrium--and confidence in the conventional ballot box--or America might yet be the territory for a populist, anti-political, sinister Mr. Fixit." -- 
Mark Lawson, The Battle for Room Service (1993)

Tuesday, June 23, 2020

Good Journalist Hunting, Part 1: Thoughts on American Retail

[Note: if you're here for the unauthorized article on my experience working in Target Corporation's backroom or storage, scroll down to the first photo ("Backroom Economics") and start there.]

San Francisco's Warren Hinckle knew honest journalism required freedom from advertisers or supervisors, whether king, corporation, or benevolent donor. Though nowhere near the quality of Hinckle or his discovery, Hunter S. Thompson, at least I can say I tried. Four years of self-funded travel--no advertisers or donors except a 10,000 USD loan from my parents--have taken me around the globe three and a half times, providing an unexpected appreciation of history. (Who knew only extensive travel could expose connections between post-WWII events and modern-day business practices?) 

I'm lucky to have two immigrant parents who stayed together despite great difficulties and who let me stay in my old room, thereby allowing me to discharge my student loans much earlier. Without their assistance, I would not have been able to travel solo at all. To avoid misunderstandings, my writing below isn't about travel--those posts can be found here. Here, we'll cover four areas, in order from most interesting to least:

1. The future of retail, and why Amazon and Costco are outperforming. (If you're really into retail, you might want to read my March 2017 article first.)

Note: I am *not* affiliated with Target Corporation in any way, shape, or form. All opinions herein represent my own, and I haven't disclosed any information you can't see yourself if you peek through nondescript doors in any large Target store.

2. Insurance companies and the ease of receiving prescriptions of any kind, not just opioids. (But see counterargument here: "As Suicides Rise, Insurers Find Ways..." May 16, 2019, Bloomberg) 

My conclusion: America's mainstream media focuses on opioid addictions because they're a relatively small problem and therefore easy to fix, giving regulators an opportunity to claim success without resolving fundamental issues. USA healthcare is a particularly devilish problem because numerous overlapping and fragmented entities--each with their own accounting and administrative procedures--require cooperation between national, state, and local entities, all of which have competing interests. Additionally, you would not believe how easy (and profitable) it is for a psychiatrist to diagnose someone with a mental health issue, then prescribe drugs on the spot--at least if you didn't realize the scope of USA pharmaceutical lobbying. 

3. I was arrested twice in California. Once you enter an American jail, you'll realize why so many police officers are corrupt and why the system is designed to promote an ever-increasing share of the budget towards law enforcement and courts. UC Davis graduate and public defender Joseph Tully might have said it best: "Judges don’t seem to care about the law, they don’t seem to care about truth, they don’t seem to care about justice."

4. Social media ad dollars no longer seek to capture eyeballs but data in order to use it to justify surge pricing and other demand-driven marketing. Obviously, larger companies have clear advantages in capturing and parsing data, especially when buyers are more reluctant to spend marketing dollars online without more definite ROI. Unfortunately, targeted online marketing comes at the expense of the consumer due to no additional services being offered as well as the tendency of AI and security requirements towards "techopoly." 

Short answer: consumers don't always know what they want, but they know what they don't want, and data is terrible at figuring out what consumers do not like.
I received this in the mail. I do not own a cat. I have never owned a cat.

Backroom Economics

Let's start with Target Corporation. I've worked several retail jobs, including in now-defunct Mervyn's and Montgomery Wards. At Target, I was classified as Flexible Fulfillment, meaning I collected products throughout a three-story building to fulfill customers' online orders (aka OPUs). I also stocked shelves (aka "pushing"), pulled products onto carts (aka u-boats), and retrieved products from the backrooms for guests.


In olden days, the backroom relied on brute force but was simple: trucks would arrive with merchandise around 5am; we'd use a dolly to unload products down the ramp; then we'd position them for a separate team to stock the store's shelves. Working hours were unpredictable 15 years ago because stores didn't have data to indicate which time periods (other than major holidays) required more personnel, so I'd often get calls at 9pm asking if I wanted overtime the next morning. 

Today, everything is recorded, and GPS allows much better tracking of supply and demandWhen I pull an item off a shelf in the backroom, I use an electronic device to scan the shelf location, which updates the inventory. Is it a perfect system? Not yet. Sometimes, boxes have incorrect labels or the product has the correct label but the wrong product. Once a mistake enters the system, it compounds until caught and remedied on one of our tricorder-like devices--at least if you're not in a dead spot lacking connectivity. Quite frankly, it's miraculous retailers can keep track of so many different items day in and day out, though the level of defects and breakage vary.
All will be thrown away or donated.
Packaging is the most underrated retail skill. Each package, if not perfectly made to fit into various shelves, will either break,
If I'm grabbing 50 items, I'm looking at bar codes, not whether a product is detachable.
leak, or fail to properly display its contents.

Square peg, rectangular box?
If a box is glued too tightly, my fingernail will break trying to open it with my bare hands.
Work hazard: blood under the fingernail.
If a box is too large (I'm looking at you, Pirate's Booty Popcorn), it looks ridiculous and takes up valuable space in the backroom as well as the sales floor. Though my average day involves walking 0.8 miles an hour to pick up different items for guests ("customer" is not the preferred nomenclature), the walking didn't bother me--opening glued boxes did.
9am to 5:30pm
Second bothersome factor? Taking down boxes that shouldn't be on such a high level in the first place.
You're not seeing the first four shelves on the bottom.
I'm 6 feet tall, and there's no way an average male, much less an average female, could reach some of the boxes I picked every day. A full box of wine on an uppermost shelf weighs about 20 pounds, easy to lift if on waist level but hard if you have to prop it on one shoulder while using your other hand for balance. As for ladders, some aisles don't have them, forcing team members to go to a different room to find a free-standing one. Working a blue collar job helped me understand why sexism still exists, though I also wondered why technology hasn't bridged the gap better.
National Geographic, May 2019, on another "blue collar" job's gender disparity.

Of course, other kinds of sexism exist, too. These appear to be exactly the same product, but the women's item costs 20% more. 

(Yes, a machine is available to lift workers to a higher elevation, they're not in every storage room, space is limited, and there's no guarantee someone else won't need the machine at the same time as your 30-minute deadline to fulfill a guest's orders.)

Take me higher?

The failure to use technology to level the retail working field is particularly odd because women spend a lot of money in America. I had to stock the women's health section a few times, and while I don't understand the need for an entire aisle of tampons or pads, I'm certain all of the products have high margins; otherwise, so much differentiation wouldn't exist. In addition, women were more likely to order other products when ordering ones they needed, with beauty items like lipstick being popular add-ons. In my case, having to find specific brands of lipstick colors in a sea of 300+ for online orders was one of the most frustrating parts of my day, especially because I knew most women would be able to do the task much faster. If you want to score in retail, pay attention to expectant and new mothers. They bought so many products from so many different areas of the store, I would get a workout fulfilling each online order. (Long before the COVID19 pandemic, moms knew the wisdom in disinfecting everything.)

What other advice can I give brick-and-mortar retailers? As mentioned above, you will never lose if selling beauty, baby, and/or cleaning supplies. Conversely, it's almost impossible to generate consistent revenue from children's toys and/or books unless you specialize and create seamless online operations tied with unique in-store events. With toys, children muck about and topple the entire section, making your store a de facto temporary daycare. With books, margins are quite good, but unlike fashion, a 30% to 50% profit isn't enough on a base sale of 25 USD when demand is unpredictable and inconsistent while overhead, especially labor costs, is constant.

Two other areas for corporate improvement:

1) Clothes are almost impossible to find, even with RFID-enabled devices. If I have only 30 minutes to find 6 to 10 items, I am going to skip the clothing item if I cannot find it quickly. Only toys were more disorganized than clothing/softlines. It might be time-consuming to find a small beauty product, but at least that section is organized and predictable.

2) Why is the employee discount typically so low? After 6 months of service, I'd favor giving full-time employees 25% off store brands and 20% off everything else. Sure, there's danger in reselling, but stores can limit the amount of total purchases per week. Most likely, HR and IT don't want the hassle of tracking yet another employee program, but that's no reason to under-appreciate employees. 

3) What advice can I give consumers? First, before going to a store, download the store's app. Sometimes, the app has deals not listed on the website, and Target's app is excellent for discounts. Also, while not always accurate, you can check whether a particular store has many or fewer of the items you want. (The failure of 100% accuracy in the backroom muddles the usability of floor numbers.) Second, please put your cart in the right place in the parking lot. If stores keep losing carts or seeing cart damage to vehicles, eventually they'll start charging a nominal, refundable amount to use them. Plus, it's good manners.

By now, you may have an inkling why Amazon is so successful. By the time a "traditional" store figures out the logistics of stray shopping carts, food kiosks, slip and fall insurance, proper staffing levels in each department, the in-store Starbucks, the backroom, the sales floor, and a million other things that ensure you, the customer, are happy and safe, Amazon is already ahead because they've eliminated every non-essential piece of the retailing experience. Though I've never seen an Amazon center, if you work in any brick-and-mortar store's backroom, you will understand any retail organization set up to deliver products directly from your hands to the customer will win. For Amazon, the backroom *is* the retail experience, which makes sense because that's where the action is. All that stuff outside? Fluff and show. Costco knows it, too, which is why they offer free food samples to make your experience in a warehouse seem more interesting.

Think about Costco's warehouse design. Is it set up like traditional retail, or is it one massive backroom? Those wide aisles within a grid system? Perfect for delivering heavy crates and pallets of products anywhere in the store. Next time visiting Costco, look up--you'll see lots of boxes waiting to be "delivered," but one shelf down, not throughout a two-story building with different-sized shelves. Why boxes? Because taking items out of original packaging takes time (remember my bloody nail?), and it's one reason backroom inventory becomes corrupted. (Is the bar code on a package for one item or the entire set? If you have ten seconds to decide, you're not always going to be right.) Though I met my fulfillment targets at Target, I'm not sure I could do the same at Costco, where much of the lifting is done by skilled drivers and mini-forklift operators. Within Costco's unique system, I can see the benefits of unions for both employees and employers.

So now what? Once employers realized theft resulted primarily from employees, not customers, it was only a matter of time before "backroom economics" and surveillance took over American retail. In some ways, Minneapolis-based Target's dilemma is similar to all of America's: can it adapt and change to stay relevant, or will it be left behind? Personally, I hope to see the familiar red target logo for many more years. If Target Corporation and other anchor tenants fail, the alternative will be a world of Borg-like cube warehouses using RFID and machines to locate, sort, and deliver products while humans look on passively. Will malls be assimilated into our modern-day techopoly? Will AI and GPS capabilities continue to outshine less predictable customer service? It all depends on whether city councils and real estate developers discover more dynamic ways to do business. So far, America's physical and political landscape appear inhospitable to meaningful change, but that is no cause for pessimism; after all, the course of true change ne'er did run smooth.

© Matthew Mehdi Rafat (2020)

Disclosure: at the time of publication, I own mutual funds and ETFs which most likely own shares in several companies mentioned herein, but none of my holdings, including individual stocks, are substantial enough to warrant overt bias. 

Bonus: I neglected to mention one important group: stockers and drivers hired directly by consumer brands. I don't know exact details regarding shelf space in retail stores, but certain brands protect their investment and reputation by sending their own stockers to check and re-stock shelves once a week. These workers were a delight to see, and all of them were professional and helpful. The regional representative for Peet's Coffee even took the time to explain his job to me. (Speaking of coffee, some Targets sell multiple brands of coffee, and if you buy coffee when it is first stocked, you may capture a deep discount without sacrificing quality.)

Monday, April 30, 2018

Robert Scheer, Muckraker, on Ramparts' Warren Hinckle

I was privileged to meet Robert Scheer from USC Annenberg's School of Communications and Journalism in Berkeley, California on April 29, 2018. 
Scheer, along with William Hinckle, was one of America's original muckrakers. Some of his work influenced MLK's opposition to the Vietnam War, which eventually led to Daniel Ellsberg's whistleblowing. At Berkeley's Book Fest, Scheer discussed working with Warren Hinckle, lesser known than Hunter S. Thompson but arguably a much better writer.
On motivation: "What drove Warren [Hinckle] was journalism." "His success was a rebuke of mainstream journalism... [he was] forging a connection with the anti-war movement and the civil rights movement. We were the start of whistleblower journalism."

On mainstream media: Even the New York Times condemned Martin Luther King. Every single mainstream newspaper has [initially] supported every one of America's wars. In fact, "Martin Luther King's condemnation of the Vietnam War was [itself] condemned by the New York Times."

On whether Warren would have been more famous among New York's hoi polloi: "If we'd been on the East Coast, we'd have been unpublished!" [i.e., too much competition and too many existing outlets and power players]

On David Horowitz's criticism of Ramparts: "Fred Mitchell saved Ramparts... [you can criticize how we spent money but] we didn't pay most or our bills because we declared Chapter 11 [bankruptcy]... [In all seriousness] we lost money [not because of mismanagement] but because of the positions we took. We reported on the Six Day War [and then had pro-Israel Martin Peretz and Dick Russell, two of the magazine's shareholders, withdraw their money, 1 million USD, from Ramparts]. We reported on Malcolm X [when no one else was doing so]." 


Bonus: Steve Wasserman on Warren Hinckle: "Every story he told was true, even the unbelievable ones." "Warren was on the side of the little people... He couldn't bear hypocrisy." 

Wednesday, August 30, 2017

Days of Yesteryear: Newspaper Edition

In high school, I eagerly awaited Sunday's newspaper so I could read syndicated columns by Dave Barry, Mike Royko, Thomas Sowell, and Charles Krauthammer, as well as the Calvin & Hobbes comic strip. I didn't care about anyone's political affiliation. Most writers who made it into the Sunday paper were undeniably authentic and had in-depth personal knowledge. I was interested because each of them cared about the topic discussed and provided relevant research, even if only anecdotal. If any journalist had a chip on his or her shoulder, I couldn't feel it on my ink-stained fingers. I would save articles I loved in my cabinet, a shrine to the many words of wisdom I felt lucky to read. 

A few days ago, when a newspaper--from the same publisher--unexpectedly arrived on my parents' porch, I went to throw it in the recycling bin, asking my mom along the way whether she wanted it. She demurred, and off to the bin it went, unopened. How times have changed. But why? 

Despite more information publicly available than ever before, I learn more about a scientific topic by speaking to my sister, a PhD scientist, for 5 minutes than anything online. Writers can fit only so much context in a short article, but they don't have much competition--the number of experts able to provide "big picture" context is extremely limited. As the always interesting Nassim Taleb might say, oftentimes, it's not what you say, but what you leave out. 

A lawyer/analyst recently published an article arguing record consumer debt wasn't a cataclysmic problem but missed an issue: are his numbers and data based on organic, sustainable growth--such as steady, predictable tax receipts--or artificial, unsustainable catalysts, such as government borrowing at ever-increasing interest rates? Without knowing the answer to the aforementioned question, the entire article as well as its research is useless. This author, the editor of the blog, The Big Picture, somehow missed the big picture--despite doing considerable research and using diverse data sets. 

I emailed him, saying, "You... failed to list overall liabilities, such as pension and other local gov obligations. If local and state govs borrow more and transfer their debt/revenue to local residents, of course the overall picture will appear better." 

He responded, "These are current, not future liabilities." 

This expert accepts an analytical approach where if 100 people owe 1 million dollars now and have jobs that can reasonably cover the interest on their debts now, it doesn't matter if their government--local, state, and federal--or their private sector employer owes 100 billion in bond or other payments due tomorrow. 

But without knowing present and future liabilities, one cannot determine whether last year's tax receipts and accompanying job growth are sustainable. If governments or private employers owe 100 billion tomorrow, they might require higher taxes, fewer new hires, and more debt (presumably at different interest rates, impacting present-day revenue). 

If the debt is pension-related, then more revenue would be needed to replace the retired workers as well as to pay ongoing pensions unless the pension fund was 100% funded. In short, future liabilities can dramatically change the assumed rates of job growth, tax revenue, consumer demand and inflation, rendering prior data almost useless. It's as if there's a Black Swan event we can actually predict, but no one wants to do the additional math because it's too complicated. 

So I wrote Barry Ritholtz back: "[I]f we have a bill due tomorrow, analyzing only today's liabilities and GDP makes no sense if the entire structure depends on rolling over massive debt and other financial engineering." 

That's when it got interesting--and slightly snippy: 

My response: 

The value you were trying to provide was context, not knocking down a strawman, I hope. 

If since 2007, govs have borrowed more money and transferred that money to their residents on local, state, and fed levels while doing little to resolve systemic issues such as lowering pension obligation interest rates, etc., then the result won't be the same. It'll be different, of course, but serious problems will remain, meaning your article promotes complacency rather than true context.  You want the "big picture"? So do I. 

Barry: "See how it's totally not the same because of a lack of defaults and overall population and other changes that I'm going to examine without trying to see if the growth is merely because govs borrowed more money?" 

Skeptical Guy: "Dude, analyzing only today's data makes no sense if you're unable to determine that consumer/mortgage borrowing wasn't merely replaced by gov borrowing, which then was transferred to residents, leaving systemic issues alive and well, but with a larger fuse and more dependence on low interest rates."  

Barry: "Dude, I was just analyzing why it ain't exactly the same." 

Guy: "What value is that if your goal is to analyze the big picture?"

And that's where the conversation ended.  

When I opened my newspaper in the 1990s, I never once suspected Mike Royko wasn't an expert on everything Chicago. When Peggy Noonan taught me politics is all about "Whose ox is being gored," I knew she was speaking from a reservoir of personal experience. Today, in contrast, when I click on content, I sense people consider themselves experts after one-hit wonders or because they know the "right" people. Worse, I sense journalists and experts no longer have power behind their pen. Even if they manage to capture eyeballs, the public's threshold for outrage has risen so high, nothing will be done unless an army of paid meme creators and politically-connected groups manufacture simplistic slogans that fail to capture any complexity. 

Maybe that should be the modern journalist's motto (and epitaph): "So simple, you'll be outraged and demand change without really understanding a damn thing."