Adam Curtis, a documentary film-maker and journalist, has a brilliant aptitude at analysis in this area. His work in general, at the intersection of reporting and politics, is pretty excellent.
It is some malice, more than you might expect; with with a great dollop of ineptitude, far more than you might expect; that allows this climate of total disorientation to exist.
Take some of his thoughts:
"Politicians used to have the confidence to tell us stories that made sense of the chaos of world events.
"But now there are no big stories and politicians react randomly to every new crisis - leaving us bewildered and disorientated.
"And journalism - that used to tell a grand, unfurling narrative - now also just relays disjointed and often wildly contradictory fragments of information.
"Events come and go like waves of a fever. We - and the journalists - live in a state of continual delirium, constantly waiting for the next news event to loom out of the fog - and then disappear again, unexplained."
The rest of that article is here: http://www.bbc.co.uk/blogs/adamcurtis/entries/ae14be85-3104-...
And the documentary-film that he's referring to in that post, Bitter Lake, is available on iPlayer (for British viewers...or people on a VPN...), here: http://www.bbc.co.uk/iplayer/episode/p02gyz6b/adam-curtis-bi...