Sucks to be us — why journalists are depressed

This Media Life article hits all the points of pain — the economic recession snowballs into a media depression, as big advertisers across-the-board cut back and some go out of business, reducing the overall number of potential advertisers. The ones that remain have shifted towards advertising that you can measure. Largely, that means they’re shifting online, where there is absurd overcapacity, depressing prices.
People like me need to gin up a new model (trust-fund journalism, anyone?), hunker down in the dirt-poor online advertising world until a massive amount of consolidation happens there, or find something else to do.