“The only news is bad news.”
Otherwise, it would be “good” news, or useful information. What one has to understand about the “news” business is that it is to sell you useless information for “free,” so that you need ever-increasing more information, until you are so overburdened and overwhelmed with raw data, you can’t see the truth of anything.
All prices are “impermanent,” and so rises and declines are not “temporary,” but the truth of the matter for the present. Economies change and grow, and so what is needed and profitable to do changes and evolves. That is reflected in stock market prices as an indicator of what is profitable to invest in at the time.
Right now, money is shifting out of the tangible assets like real estate and commodities and moving back into other innovations for adapting to the world. In many places, real estate has risen so fast and so high that nobody can afford to buy it anymore — and so it is unlikely to continue higher.
The better deal is to move to places of opportunity — like Texas, Ohio, Pennsylvania, North and South Carolina, New Orleans, etc., and avoid the high priced communities in which one’s entire salary goes towards the rent. Meanwhile, there are always places where the living is “free” — by comparison. But those places eventually get discovered and fully valued and creates the next sector “rotation.”
The strength of the economy is this diversity — to shift resources from and to productively with some dislocation and trauma until people figure out what the “market” is trying to tell us. Foremost, the market (prices) is information of what is economic to do — rewarding those who move in the direction of greatest opportunity and no longer rewarding those still trying to make a buck essentially perpetuating the problems of society.
These shifts are fundamentally healthy, causing and enabling the development of resourceful people who get better at processing information — so much so, that it is obvious that the old sources of information (mainstream media) now seem vapid and irrelevant but are still used by the demagogues of the world thinking to exploit it one more time before it disappears entirely.
That’s one of the big themes the old media is not going to report on because it is the news of their demise and passing.
“The kind is dead; long live the king.”
Mixing metaphors here:
As we say in Hawaii,
“Da Kine is dead, long live Da Kine.”
Interesting analysis. Anything that starts out sounding like, "No news is good news - because good news 'isn't news'" gets my attention. Because I think that is a fundamental which is difficult to keep firmly in mind "when all about you are losing their heads - and blaming it on you."Journalism is about attracting attention and selling advertising. That is their business model. And since the construction of a house, tho good, is planned and executed gradually, it is naturally less of a "news" item than the destruction of that same house in a fire. And that explains why the Chicago Fire is much more famous than the prior construction of Chicago from scratch in a few decades in the Nineteenth Century.
Speaking of which, it is interesting to note that Chicago was the first place in which "balloon construction" was done. You have probably seen "balloon construction" - unless you are blind; that is how Americans have built houses ever since. It was called "balloon" construction because it was so light compared to the timber construction which was the norm from time immemorial. I got that information from The Americans: the National Experience, which is the second book of a trilogy by Daniel Boorstin. Fascinating book, highly recommended.