Culturally Constructed Ignorance Wins the Day

Exaggeration is one thing. Living in an alternate universe is another.

I spend much of my time shrugging off breathless news events. Ebola (now Zika), employment reports, Federal Reserve rate changes, government shutdowns, peak earnings and so on. Much of what passes for earth-shaking news turns out to be, with the benefit of hindsight, something in between idle gossip and fear-mongering. The genuine, not well-anticipated, actual market-moving news -- such as the U.K.’s vote to leave the European Union -- is a relatively rare thing.

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