Mainstream Media is Not Our Friend

Have you ever noticed that the farther we move away from public broadcasting, the more sensationalistic the media gets.  Of course this makes sense – if it isn’t interesting, you won’t watch.  If you don’t watch, they don’t sell advertising.  So, better make it scary!  

 A prime example of this could be the financial news networks.  Would you ever ride an elevator with “Soar” and “Plummet” buttons? They have been successful at convincing us that the stock market needs to be watched 24 hours per day.  100 years ago, we didn’t even talk about a stock market – there weren’t even any indexes to talk about.  Why is it that now, it requires our attention all day long?  Truth is, it doesn’t – but you wouldn’t know it with one “scare” after another. 

Weak dollar,  rising interest rates, rising energy costs, inflation, Chinese Governmental policies, deflation, sub-prime mortgage market, credit-crunch, falling interest rates, and back to inflation.  For the last 5 years, we have heard all of this time and time again, while the market has improved 50% from it’s correction lows. 

I suppose if you make claims long enough in a cyclical market your bound to be right eventually.  But for now, aren’t you glad you didn’t listen? 

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Published in: on October 31, 2007 at 5:18 pm  Leave a Comment  

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