This is Why the Kardashians Are Popular

media companies, mainstream media

Covfefe.

It’s a simple word. Yet in 2017 it was the most baffling word in the world. If you go and look up ‘covfefe’ in the Oxford Dictionary you’ll see a picture that looks like this…

Donald Trump, President, USA - Portrait. 06-04-2018 Source: Wikipedia Commons
[Click to enlarge]

There’s no explanation because there is no explanation. Covfefe is not even really a word. And no, the picture above does not appear in the dictionary. Nor does covfefe.

The term was from a tweet from President Trump on 31 May 2017.

The tweet reads: ‘Despite constant negative press covfefe’.

It set the internet on fire. No one knew what it meant. Many tried to guess. The closest guess we’ve got to it is it’s a form of encryption for the US nuclear codes so that President Trump doesn’t forget them.

A bit like writing your password on a post-it note and leaving it stuck to your computer screen.

Nonetheless covfefe made the news all over the world. Now the question you should ask is this, was covfefe really news at all?

Well no, not really. It was a stupid tweet from Trump. But the mainstream…and even not so mainstream were all over it.

Like this gem from ‘news’ outfit Axios:

Top White House officials tell me the key to forcing a more disciplined President Trump like the one onstage overseas is limiting his screen time. In Trump’s case, it’s curtailing his time watching TV and banging out tweets on his iPhone.

Then there was this from allegedly reputable, The Washington Post:

Covfefe chaos: What Trump’s typos say about his administration

Misspelled tweets and typos in press releases are becoming the norm under President Trump, but critics say it points to a pervasive carelessness in the White House.

A misspelt tweet suggesting ‘pervasive carelessness’. Please, give us a break. This is what passes for in depth analysis these days.

KUWTK

Whether you like it or not, the mainstream media is around us 24 hours a day, seven days a week. This is the world we’ve created.

Remember the good old days when the news was on at 6pm and that was it? When the newspaper was one of the only other reliable sources you could refer to?

Instead now you can get opinions from millions of people on Twitter. Never knowing what’s true or fake. You can tune into dedicated 24/7 news channels to get world news, financial news, and sports news.

You have endless numbers of sites, blogs, feeds, that claim to deliver you the truth, the whole truth, and nothing but the truth. But do they?

What this leads to is continual pressure on your senses and emotions until you reach breaking point. Can you remember the last time the news on any TV channel had an uplifting, positive story?

I can’t. They usually send that to the end of the broadcast. Somewhere deep in between the weather and sports.

Bad news gets people to tune in. It perpetuates a culture of fear. And fear leads to desperation. And desperation turns to…the Kardashians.

You think the Kardashians would have the same impact on the world if we didn’t have 24/7 negativity thrust in our face? No way. The reason they’re so popular is that people want an escape from reality. They want to live in someone else’s ‘famous’ shoes even if just for 30 minutes to an hour.

The downside of non-stop news about everything and anything is that it drives people nuts. It drives them to crave escapism. It makes people desire for an easier way…but the truth is, there isn’t an easy way.

The other problem this intense ability to cover everything all the time has is accuracy. When everyone with an opinion has a medium to be heard on, then how do you tell the real from the fake?

You can’t. Well you can by detailed fact checking and research yourself. But who has time for that? Keeping Up With the Kardashians starts in 16 minutes…

Any punter can make stuff up

Attention span is less because of the constant bad news. We look for headlines and click bait to navigate our way through ‘media’. And we’ll get caught up in any old nonsense even if it may prove to be inaccurate and poorly presented.

This is no more obvious than in the financial world. Day in, day out, there is misinformation about companies, stocks, crypto, and even entire industries.

Any punter can head to a forum and anonymously launch a scathing attack on something or someone they have a personal vendetta against.

You see it all the time on stock forums. People post complete inaccuracies and there’s no recourse. If they’re unlucky a moderator will remove their post and warn them not to do it.

Maybe they are kicked off the forum. But then they come back with a different fake name and fake email address.

We also see this regularly in crypto forums. Users with fake names, pseudonyms, and repeat offenders out to offend…again. They make up fake rumours, fake stories, and fake facts to pursue a personal agenda.

We also see it in blog platforms like Seeking Alpha. Where they allow for anonymous posters to make outrageous reports and comments on public companies, which are often outright wrong.

I’ve seen it before with ASX listed companies, NASDAQ listed companies, and London Stock Exchange listed companies.

Some of these posters end up making a living off of their agenda pursuits. They will write erroneous reports with no recourse until one thing maybe sticks and proves to be true.

And they’ll ride that coattail for years. ‘We were right about this’. But they never admit when they were wrong about anything. And no one pursues them for fear of public backlash.

Glaucus vs. Blue Sky

You’re seeing this example play out now with Glaucus Research and Blue Sky Alternative Assets. Blue Sky has been able to categorically refute many of Glaucus’ claims. Yet still the market sells of Blue Sky like it has the plague.

Why? If Glaucus is wrong, then surely they should answer to the regulator? Blue Sky should launch legal action?

Or maybe Glaucus is right. Even if one of their 1,000 claims is right, then that’s what the media will focus on. Not the 999 other things they were wrong about.

And even then, the possibility they might be right is enough for some punters. The fact they wrote a report must mean they did the research and must be right.

No. Not the case. You shouldn’t take anything as gospel. Nothing. Not these days. Not even the things I write. You should read and listen, and then take that and research more yourself. Use information as a source to motivate yourself to find out more. Empower yourself with information that’s relevant and accurate — and then make a decision on who’s telling the truth or not.

We aim to spark your mind into a raging fire — an insatiable thirst for more knowledge.

Only then when you’ve got that empowerment to make your own decisions do you really have the ability to tell the truth from the fake. And only then will you know who to follow, who to really listen to, and who to throw in the bin.

Regards,

Sam Volkering,
Editor, Secret Crypto Network

Sam Volkering

Sam Volkering is Editor for Money Morning and its small-cap, cryptocurrency and technology expert. Find out what he has to say here with all his latest articles.

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