Media, people, stock market and academics can’t they work together?… No

January 21, 2009

In my last post of 2008, about the consumer confidence and the economic crisis in the press. I kept wondering what happened in 1998, when the consumer confidence indicators went down and all the press started talking about the economic crisis, something like what happened in 2008. The thing is that I did not remember anything significant in 2008, I kept wondering until today.

If you look back now for example at the Dow Jones (not very good to economic research is better the S&P), the biggest stock market.

Dow Jones 1997-2009

Dow Jones 1997-2009

You say… 1998?… the what?… How come that for the media and consumers the “economic crisis” was something as big as now. You just think people and media went ballistic. Then you look a little bit more back and compare. Another quick look at google finance:

Dow Jones 1995-1998

Dow Jones 1995-1998

Then you say, oh! ok, I see. Understandable, now I know why people and media could be worried in 1998.

I don’t like too much the stock market thing, although once I was in an university competition number 5 out of 200 (that is I was the fifth with more benefits in the stock market). But I had it clear that I would only put real money on the stock market if I never need that money, and so far I’ve never had “enough” money. Which I’m happy to have done looking at the last chart. I’d rather use it for businesses I’ve created. I had always had the luck to be around the right people).

Anyways; people feelings, media reports and the stock market, seem close subjects but just so impossible to study them for academic purposes. That is, to try to find the truth out there.


3 Responses to “Media, people, stock market and academics can’t they work together?… No”

  1. Jason Says:

    The one thing I’ll say is the media is always late. They present the current state and not future direction. So the clueless, the majority, find out and then freak out. But I don’t think themesia make it any worse. Like right now people know lots are losing the job with or without the media. There is a good Chris Rpck bit about the media.

  2. Jen Says:

    Thanks for your comment, glad you enjoyed it! =)

  3. […] This is what happened Possibly related posts: (automatically generated)“Economic Crisis” in Denmark and in […]

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