Tuesday, November 25, 2008

Shut Up Week.

Unless you just came out of a sealed capsule at the bottom of the ocean, or have been running around with your fingers in your ears shouting "Lalalala, not listening!" for the past while(a not unreasonable response right now) you no doubt have heard the regular stream of dire predictions coming from various quarters on the economy. The Organisation of Economic Cooperation and Development is the latest group to release a negative outlook for the world economy. And with each one the markets seem to go on a rollercoaster. So perhaps it's time for all of them to shut up. Keep their predictions of doom and gloom to themselves just for a week and see what happens. What's the worse that could happen? I can't see it being much worse than the Dow Jones and TSX dropping 400 points one day because of some prediction from an expert, followed by them going back up 250 points the next day because those involved realise there's still money to be made.

Modern media doesn't help things. It allows almost immediate dissemination of such material, and hence an almost immediate reaction from the markets. If this blog for example was in any way influential with the movers and shakers in international markets there could be a response from some interested parties within a few minutes of this post being published. The pundits and organisations that create such material might want to consider that fact before flapping their big mouths.

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