Many people throughout the United States are looking for legal and financial news they can trust. A lot of what’s put out in the media today is controlled by major corporations and government entities. In a country of “free speech” our news is being censored and borders on propaganda used to move major markets in one direction or another that only benefits those who are in the know.
While some of the key players in the corporate control of the media and news outlets have changed a bit, the infographic on the right is fairly accurate.
We’ll do our best to sort out the actual news from the propaganda tactics being practiced by the major media channels, but above all else, we encourage you to do your own research before developing an opinion any particular topic, whether that be financial, legal, or political.
Financial News Bias
In today’s digital-based society, there are so many places to get your financial news and some of those may not be the most reliable. After all, corporations pretty much own the media, so who’s to say which stocks are going to go up in value and which are not. Just the basic notion of where you get your financial news can bias your portfolio value and impact your investment strategy.
Just recently, the SEC brought charges against 27 stock pickers who were previously thought of as messiahs in the financial world. What these guys were doing was, in fact, criminal. They would tout how great a company was and that you should buy a stake in it, in some cases as much as you could afford, and the company wouldn’t actually have any intrinsic value. These were just ‘pump-and-dump’ stocks. Once the price was artificially inflated by people buying on the hype, the largest shareholders sold their share for a huge margin of profit.
The biggest financial lesson we can take from this is to not buy on the hype. Granted, you may be able to ride the tail-end of a trend long enough that it’s profitable, but would it be morally correct to do so? Most of the time, people who try to do this get burned pretty badly. Instead, you should look for intrinsic value in a company and make decisions for your finances based on long term growth.
Recent Financial News:
Legal News Bias
Just like with having large corporations influence the media to sway stock prices in one direction or another, they can play a pivotal role in legal issues. They can rally thousands, or even millions, of people to vote for a candidate or protest against a certain legal issue that is deemed a “hot topic” by the news agencies themselves. What may be even more unsettling is that the public opinion can easily be swayed through reading others’ opinions published in major newspapers.
Let’s just take a look at our most recent presidential running. The media influenced that in a BIG way. From Russian hackers to defamation ads ran by political opponents, voters were left with very little REAL information. It became almost impossible to sort through the rubbish and figure out real news vs fake. Everyone now knows this and the current president is using the term “fake news” to further blur the lines of truth and fiction. Granted, we can all do fact-checking of our own, but who is actually going to take the time to do that? Most people will just hear something that someone said and assimilate it into their legal lexicon and belief structure. Sure they might give it a second thought, but I’m sure you can agree with me here… most will not.
The biggest lesson we can take from the oh-so-frequent opinions on politics and law is this: don’t be lazy and fact-check.