Aug
23
again…yeah………lol. this article puts it perfect
Adam speculates on three possible causes of the “markets do X because of Y” headline phenomenon: laziness, conventional wisdom, and bias.
All true, though to be fair to the journalists we like to tease so much, the root cause of all this is probably just our humanity. Hume knew as much; social scientists even have a name for the cognitive bias. And it’s not like you can sell newspapers or drive traffic by going with headlines like, “Markets sell off hard for reasons that are epistemically opaque; in entirely noncausal but correlative news, oil rises dramatically.”
