NPR's On the Media runs this week an excellent feature questioning why stock market downturns end up being the top story everywhere in the media. Media preoccupation with Wall Street, not only likely distracts us from other more important economic news, but mistakenly assumes that a rising stock market is good news for everybody.
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In my probably insufficiently informed opinion, the stock market long ago ceased to have any relation to most people's lives.
But surely the stock market is more important than 650,000 dead people in Iraq?