I think the financial crisis has made me into a total structuralist. A financial system that, since decoupling the dollar from gold in the 70s, increasingly dealt with abstractions could only come toppling down just the way it is. I don’t think any other outcome was possible. (And the idea of gold being some objective measurement of worth is pretty metaphysical, too).
Similarly, when Fox News does something stupid with racist/sexist/homophobic undertones, and people get mad, I don’t really know what to think. That is what Fox News is for, so to speak. That’s why people like it. When they apologize, as they have done for airing a text message in support of “Barack the Magic Negro,” a song distributed by the guy who’s running to be part of the RNC, it doesn’t seem to mean anything. Their viewership doesn’t regard them as an abusive boyfriend who keeps apologizing insincerely after every serious breach of trust. They probably read the apologies as proof that the “actual,” “liberal” media who control everything and against whom Fox exists as the people’s alternative do actually control everything.
Further, who cares? You either watch Fox News because you like hearing Sean Hannity talk about how great America is, or you watch some other channel because you like your news superficial and slightly less right-wing, or you read it somewhere because you like actual news that can’t fit in a chyron.
I think the future of Fox News, in 2009 and beyond, will consist of the same old thing plus the occasional consequence-free apology when they go too far. So getting worked up about it has no meaning whatsoever. In that way the network really mirrors the Republican party, and every so-called media watchdog is a Harry Reid, who might work up the gumption to issue a strongly worded letter when he’s not too busy policing fellow Democrats.