I know that the blogosphere is powerfully influential. How do I know? Well, when a blogger, Paul Kedrosky, a venture capitalist, rages at his fellow venture bloggers to stop blogging all the things going wrong with Wall Street, the stock market, and the general health of the US economy, you know that the health of the market has to do more with a perception of health than with actual healthiness. Either way, check out what says in his article Blogger Tells Bloggers To Quit Ranting About Bad Finance (Via Marketing Conversation):
And at least one person has just about enough of the raging jibber-jabber. Paul Kedrosky, a venture capitalist and, yes, a blogger (putting digital pen to paper at Infectious Greed), wants Web-based publications to can the tirades already.
The tirades that have to do with the financial sector, anyhow. As relayed in the NYT’s latest What’s Online column, authored by Dan Mitchell, Kedrosky pinpoints the recent rants of Barry Ritholtz (CEO of Fusion IQ and the blog Big Picture) and Herb Greenberg (columnist and blogger at MarketWatch) as overly critical of the state of the markets.
Nevermind the odd persistence of several analysts/talking-heads in seeking out the positive aspects of the current global economy. The projections of ever-greener grasses, no matter the current state of affairs, are apparently quite warranted in Kedrosky’s view. It’s really the negativistos inside the blogosphere who are unnecessarily forcing the bears on the proverbial house of cards.
Via Blogger Tells Bloggers To Quit Ranting About Bad Finance
Who knows if PR firms have as much influence as they’re reputed — all I know is that Public Relations and their associated talking points generally are scoffed at by bloggers, who will not necessarily say it as it is but will always say it as they see it. While this is Really Good to boost a bull market, it is disastrous for a bear market.
During a market down turn, the echo chamber can become a negative feedback loop, resulting in a self-fulfilling prophecy. This is where most people suggest “being responsible” and “learning to blog towards the general health and the greater good;” sadly, I love free and open speech. Heck, I own and run Memes.org, a site that couldn’t be more disruptive or have less of an interest in absolute truth. Like I always say, caveat lector.
I have to admit, however, that I am not helping, The Market Will Have a Very Bad Day Today. “Bad, Chris Abraham, bad, bad!”
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