Get Rich Off Liberal Bias

Mickey Kaus writes:

At a lecture today at the Milken Institute, economist/blogger Tyler Cowen said he didn’t think the sub-prime mortgage crisis was such a big deal. That’s always been my untutored sense–it seemed clear the MSM was hyping the crisis because a) it was the story of the moment; b) economic news is always bad news; and c) the anti-Bush, anti-GOP press is now in permanent campaign mode–and the economy is one of the few things the Republicans, and Bush’s policies, might be able to take some credit for. If it tanks, they’re really dead. So the press has a catastrophist bias when it comes to the economy. Remember when Enron was going to sink it in 2002? However big the subprime problem is, it was never going to be as big as the press makes out.

Which led me to this potential moneymaking idea: The moderate lib bias of the MSM is a huge irrational, distorting force on the information flow to the American elite, prompting them to not infrequently make colossal misjudgments (like thinking John Kerry would be a solid presidential pick for the Dems). To the extent this organic MSM bias actually distorts the market, it should create opportunites for stock-picking.