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Wouldn't it be the opposite? If nCoV goes away, we'll forget about it (and those who prophesied doom around it). But if it blows up we'll remember who said what. Like we remember the people who predicted the real financial crisis, not those who predicted the non-existent ones.
Name one media person, off the top of your head, who said the housing bubble stuff was overblown
Here's an interesting video of Bush and Republicans trying to reign in the housing market in the mid-2000s, Schumer and Barney Frank fought against it:https://youtu.be/LPSDnGMzIdo
I can't. I was too young and in another country, and I don't really track the media much even now. I'm happy to concede that journalists don't pay much price for bad predictions, but if this should cause a bias I think it would be in favor of overblowing threats.
If journalists were considering expected value, I think they would, and their predictions would be better for it. In reality, I believe they're just playing the odds. A close call or a short-lived pandemic is more likely than a 1918 scenario
Art Laffer, not quite a media person, but he said it.
Pretty well everyone on CNBC
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