Roger Ehrenberg, an investor who blogs on his Infortmation Arbitrage site, wonders whether media coverage of the current financial crisis is causing the stock market’s volatility.
“Media is motivated to evoke a reaction. A strong reaction. They want people to pay attention, right? So what do they do? Sew the seeds of conflict. Just having a bunch of bears makes no sense. A bunch of perma-bulls is even worse. Gotta add some of both to the mix. And keep doing it to fill the dead space, again and again and again.
“So by its nature, Big Media has created a kind of ‘volatility news cycle,’ one that is sufficiently exciting to get people to watch but which can cause people’s emotions to run all over the map. And viewers are particularly vulnerable to this tacit manipulation as never before, mostly because they are scared that their financial well-beings are getting flushed down the toilet before their eyes.”
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