11/18/2010 05:30 pm ET Updated May 25, 2011

How Will We Know When American Television News Hits Rock Bottom?

From the "Rally to Restore Sanity/Fear" to the hyperbolic ranting of Fox News to the MSNBC suspension of Keith Olbermann and its aftermath, American media have been in the midst of a maelstrom lately - and the portents are not good. (And that's even if you ignore the culture war skirmish over the Juan Williams firing!)

The networks may look down on the cable news echo-chamber, but really - should they be so high and mighty? And CNN? Sigh. CNN.

So gird your loins for my take on what's gone on in the media-world of late and what it may mean.