Ray Ring wrote unhappily about daily newspapers losing out in the news business competition (Herald, Feb. 8). But here's a thought for the villainy done by the news media generally: Daily newspapers are most deserving of adversity, because they have been around the long-est.
The villainy I have in mind follows and could be headlined: "Hidden or not, serial herd behavior is our track record." Asset price bubbles are surely the enemy of the people. Such bubbles are well-shown by real inflation-corrected price histories, e.g. "Real Dow & Real Homes & Personal Saving & Debt Burden" at http://homepage.mac.
com/ttsmyf/RD_RJShomes_PSav.html.
Well-shown dictates well-deterred - that's clear to me. But these histories are kept little apparent because more money is made from bubbles by those who provide information flow to the people.
In fact, all four of the extremes in the above title beget more paid advertising to feed the news media that keep the histories little apparent.
Ed Hamilton, Durango
