Plus, I know who to blame when the information is wrong if it comes from a traditional outlet
I'm slightly doubtful that someone would create a fake scene of 22 kids who got stabbed, for the purposes of social media juice.
With regard to 22 children stabbed, I agree that I don't think someone has made this up. But this is in china, not in the west, and as other posters have noted and I tend to agree having spent some time in china (well.. A couple kf weeks) that social media >> their state outlets. There are numerous instances of weibo being used to circumvent state censorship, despite being censored itself- the enterprising Chinese netizens use alliteration and 'read between the lines' to overcome this.
Huffington Post? That's the worst kind of BS blogging and bad journalism. If HP's your idea of "social media", then they are far worse than traditional media...
Should we? I have never seen a situation where social media were any less than an order or two of magnitude more trustworthy than traditional outlets.