{"id":291,"date":"2008-10-09T15:35:00","date_gmt":"2008-10-09T22:35:00","guid":{"rendered":"http:\/\/jerrysjuicebar.com\/blog\/?p=291"},"modified":"2008-10-09T15:46:12","modified_gmt":"2008-10-09T22:46:12","slug":"is-new-media-helping-or-hurting-the-market-meltdown","status":"publish","type":"post","link":"https:\/\/jerrysjuicebar.com\/blog\/?p=291","title":{"rendered":"Is New Media Helping or Hurting the Market Meltdown?"},"content":{"rendered":"

\"\"<\/a>Are you scared?\u00a0 No?\u00a0 Then you must not be paying attention.<\/p>\n

You must be living somewhere without electricity or access to the Internet.\u00a0 (Which of course means you’re not reading this.)<\/p>\n

So if you’re reading this I’m betting that you’re right there with everyone else.\u00a0 Scared to the point of numb as you see your retirement, savings,\u00a0 personal finance and everything else that once had a value in dollars disappear literally over night.<\/p>\n

I see a new MasterCard ad.<\/p>\n

Retirement savings portfolio:\u00a0 Zero dollars.\u00a0 Home equity:\u00a0 Zero dollars.\u00a0\u00a0 U.S. Government’s Social Security payments:\u00a0 Zero dollars.<\/p>\n

A secure store room with water, canned goods, and ammo?<\/p>\n

Priceless.<\/p>\n

So here’s my question.<\/p>\n

Has the increased velocity of news and information helped accelerate the meltdown?\u00a0 Are we so surrounded now with an incessant barrage of bad news that new media is helping push us over the edge into crazed panic?<\/p>\n

Or has the ubiquity of instant information beeen a break on what would otherwise by now have been a complete implosion of economic activity?<\/p>\n

Is there ANY relationship between the historic meltdown of the stock market and new media?<\/p>\n

Aaron Brazell<\/a><\/strong> had it right.\u00a0 “Fear breeds a lack of confidence. A lack of confidence breeds fear.”<\/p>\n

And the interconnectedness of the new media means that ANYTHING — including fear — can be transmitted easier, quicker, and cheaper.<\/p>\n

\"\"<\/a>So the quote in Bloomberg.com<\/a><\/strong> reads:<\/p>\n

“This is what happens when the contagion of fear spreads,” said Quincy Krosby<\/a>, who helps manage about $380 billion as chief investment strategist at the Hartford in Hartford, Connecticut. “No one is paying attention to fundamentals. People are very, very scared. Ultimately investors decide to sell.”<\/p>\n

Used to be bad news was confined to the newspapers.\u00a0 Now it follows me on my cell phone.\u00a0 This is the flip side of the all the benefits of new media.\u00a0 YOU CAN’T GET AWAY FROM IT!<\/p>\n

Almost makes you yearn for the town cryer.\u00a0 Or just yearn to cry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Are you scared?\u00a0 No?\u00a0 Then you must not be paying attention. You must be living somewhere without electricity or access to the Internet.\u00a0 (Which of course means you’re not reading this.) So if you’re reading this I’m betting that you’re right there with everyone else.\u00a0 Scared to the point of numb as you see your…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11,9],"tags":[6,150,154],"_links":{"self":[{"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/291"}],"collection":[{"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=291"}],"version-history":[{"count":0,"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/291\/revisions"}],"wp:attachment":[{"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jerrysjuicebar.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}