Anybody ever notice that you can never go a single day without bad news?
There may be some good news sprinkled in a bunch of bad news, or there may be a some bad news sprinkled in with the good. I can remember the last time I saw nothing but good financial news – March 29th, 1999 – the day the Dow first crossed 10,000.
It’s a little sad actually. But also telling. The news can make anything seem bad, or good, depending on their moods. And what sells the most? Bad news for the most part (and I don’t believe that it always sells better) usually sells better.
Something to keep in perspective – there is almost ALWAYS good news and bad. Take today for instance. Housing is taking a beating, oil is expensive and Charlie Sheen got fired. One more unemployed person, but one who certainly spends a lot (Guys like him may be an engine of the economy). But there was also good news.
Nearly half of all jobs added last months were from small businesses (the real engine of the economy), business start-up rates are at a 15-year high, and wait for it…. Charlie Sheen got fired.
Parsing the importance of good news versus bad is the difficult part. Just remember that the news’ incentives aren’t often aligned with your portfolio or financial well-being.