Opinions are like... opinions! Everyone has one!
Facts on the other hand, were at one time, reality, truth and not up for dispute. But that no longer seems to be the case. Either that or there is a new definition of the word. A perfect example is all the bloviating about the weather, or as the elitists prefer, climate change. Opinions are now considered facts depending on the source.
This is the age of Social Media; the open book society; NSA peering into our underwear drawers; creepy things that were unheard of just a couple of decades ago. The “curiosity” thing I get, but the “need to know” aspect of life has been ascribed a new level of importance. People ask questions, often looking for a reason why an event took place without taking into consideration the notion that there are no answers or “reasons”. Often the information is only available when future events take place.
And that brings me to the topic of today. Have you ever wondered what makes you read or listen to market commentary? Here’s an interesting tidbit for you: as the stock market climbed in 2013, the viewer numbers for CNBC tanked to the lowest levels on record, until, the market had a quick drop of 1000 points on the DOW in a matter of days! All of a sudden their numbers soared as people tuned in to learn why–and the talking heads provided all the fodder the public demanded.Wall St. has an old saying, “When someone asks why the market did this or that, lie if you have to, just don’t say, I don’t know.”
Human nature seems to demand a reason, or the why of an event, especially when it comes to money. Wall St. has an old saying, “When someone asks why the market did this or that, lie if you have to, just don’t say, I don’t know.” Uncertainty creates fear and we all know where that leads!
Taking that into consideration, what should you do with the information given to satisfy your need to know? How much of what you learned is opinion or fact? Most likely a little of each. The facts offered likely relate to an actual current event so are not up for debate, since they did take place. And opinions are what the talking heads deliver, to shape events as they see them and provide information to satisfy the public’s need for an explanation.
Does it matter if what they tell you is right or wrong? Frankly, no! All that matters is whether that person(s) had the ability to convince you that he/she provided the reason the market acted as it did. Their job is to convince the person with confidence, whether there’s any connection to reality or not. The measure of success is the ability to change your mind so that you will see things differently. You are being steered to go along with the crowd and accept what is considered mainstream!
Back to the Sheeple concept! It doesn’t matter if there is a shred of truth or accuracy in what you’ve just been told. What matters is your perception and being part of the social structure, the collective web that is imperative for the survival of Social Media. Without the willing consent of the public to be lead around by the nose, chaos would set in, crowd behavior would change and before you know it, cars are set on fire and in come the troops! Sorry, a Putin flash!
The bottom line is this: don’t be so eager to accept the spoon fed information about market events given by the talking heads on TV, or on the internet or where ever you go for the WHY of things. There are items to think about:
- The majority of people only look for answers when a major event happens (all in the eyes of the beholder); the market falls out of bed or a plane disappears, etc. Chaos has erupted which alerts the media that answers will be in demand. They respond with an absurd number of theories, speculation, opinions, etc. All are proffered to satisfy the publics uncertainties or fears so they can return to daily life.
- Said chaos has been in the works for some time and only when it erupts or reaches a turning point, does it capture the attention of the public. Suddenly the media has to come up with something–right or wrong–to quell the need for answers.
So ask yourselves: What’s the likelihood that the information you got is worth the paper (or teleprompter) it’s written on? Politicians assume we are morons and sadly the voting patterns generally confirm it. Before being played, ask yourself whose interest is being served? Who stands to gain by proffering said information? Somewhere between the truth and the conspiracy theories are the answers we seek.
“Trust but verify”!