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Media is bad for your wealth

No, not ALL media, but I think the author in this article has a point. Money quote:

And come to think of it, where was Ron Insana (running back to the CNBC womb after cratering at SAC & his own private equity biz), Maria Bartiromo and the rest of the CNBC vaudevillians to question Greenspan or any Lehman, Bear, Goldman bonus babies during the 2004-2007 “irrational exuberance” when the dollar was tanking and home prices and per capita income were diverging faster than Brad and Angelina. Instead they offer us adoring stares at an oompa loompa-tinted mortgage salesman named Angelo. Why? IT’S ENTERTAINMENT! NOT JOURNALISM OR EVEN INFOTAINMENT. E-N-T-E-R-T-A-I-N-M-E-N-T!

Something to think about. I remember before I quit listening to financial news on the way to work listening to CNBC one day and within fifteen minutes of each other I heard two guests completely and totally contradict the other without the host doing anything but agreeing. The author does list some good solid sources for property investing news (and other kinds as well), including the Urban Land Institute, National Real Estate Investor, and REIS.

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