It’s the markets that shape the news, not the other way around…

AN EXCERPT:

And just to prove how utterly fickle the media and “investors” really are; as the market rallies you will begin hearing about how all the negatives that you heard just two weeks ago were phantom worries and incorrect forecasts. Like when the market is “bad”, the big bears are frequent business media guests. Now that the market is acting better, it will be a fully bullish coterie of analysts and strategists marched on the television. It is blatantly obvious that news hardly shapes the markets. It is the markets that shape the news. It is the market that determines if the economy is perceived as being good or bad. It is the market that dictates consumer and corporate spending. Another stock market bubble would make investors forget about the plunged prices and rampant illiquidity in the real estate market. Another stock market bubble would make us all feel rich again, but don’t hold your breath.