Nobody is incentivized to share bad news about the economy. Everyone has a vested interest in the stock market rising, in keeping their jobs, and a shared desire to see things go up forever.
This is why there needs to be some kind of safety net so that the economy is not a proxy for life and death. In the USA, if you run out of money, you are in real trouble. We need to decouple success/failure in the market from personal safety. You should be able to try opening a hot dog stand, have it tank, and still be able to eat and go to the doctor.
>Nobody is incentivized to share bad news about the economy.
Isn't the media incentivized to keep you watching or reading? The common criticism of media is they like to exaggerate a minor issue to get you to click on a headline.
They might be short sellers, or they might be foreign and view the US as an economic rival. There may be more incentives than just more clicks for the media.
A more likely explanation is that outside of a few specialized publications, most members of the media are just as financially and economically illiterate as the average person. I mean how many finance and economics courses do you have to pass to get a degree in journalism or communications? There's no deep media conspiracy here.
This is why there needs to be some kind of safety net so that the economy is not a proxy for life and death. In the USA, if you run out of money, you are in real trouble. We need to decouple success/failure in the market from personal safety. You should be able to try opening a hot dog stand, have it tank, and still be able to eat and go to the doctor.