Stock Market Averages Reporting: Personal Financial Pornography

Stock Market Averages Reporting: Personal Financial Pornography

Bull markets end with a whimper – not a bang

Old stock market cliche

          The mainstream print & broadcast media, CNN, MSNBC, CNBC blare headlines and screeches again when the Dow Jones Average was down 600+ points and at one point 800+ points during the day.

          The world was coming to an end – and at least a precursor (to fit their anti-trump narrative of Paul Revering ‘a recession is coming a recession is coming).

          Now 600 or even 800 points on a Dow Jones of 26,000 is 2.3% or 3% respectively. But 600 points – 800 points screams ‘Katy bar the door hold on to your 401k for dear life.’

          To put things in perspective – if the Dow Jones Avg was split to reflect a Dow 1000 – a 2.3% and a 3% drop would indicate a point loss of 23 or 30 points.

          Do you think a 23 point or 30 point nominal loss would get screaming print headlines let alone high pitched concern with graphics on cable & the broadcast media? Yet, 23 and 30 point loss would be the same relative loss as 600 and 800 points on a Dow Jones 26,000?

And the same Financial Pornographic Media calls Professional Wrestling Fake?