Roger, you have come apon a doctorial thesis in economics, that is “the media’s affect on the economy.” If we isolate the data of advertising, then the 24/7 news and commentary on the global markets has to have a major impact and I also would guess, that that impact would not favor reality.
A “neurotoxin is any substances that excites a neuron to death.” The MSM plays that part well; call it the neurotoxic news. Panic, fear, and morbidity sell the public into paying attention. Disasters sell and “ain’t it awful” seems to be the first words out of the talking heads. Their motives are clear enough; greed and adulation under the guise of informing the public. How much does a rumor affect Wall Street? How much do politicians suck up to public opinion? If the markets, banks, congress and the media took a week off of the subject we might level off the rate of descent of the economy. This is not going to happen unless a bigger disaster occurs.