Warm Southern Breeze

"… there is no such thing as nothing."

The stock market retracted 1% yesterday and THE SKY IS FALLING!

Posted by Warm Southern Breeze on Saturday, September 24, 2022

 The way some of those clowns write, one would think the sock… er, stock market had crashed, that Mount Vesuvius had become active once again, and that nuclear war had broken out all over.
 
This is just so MUCH BULLSHIT. (Or instead, perhaps that should that be bullshittery?)
 
I mean, seriously… a 1% and a 1.6% decline?
 
Are you kidding me!?!
 
That’s a “plunge”?

It’d be like dipping the very tip of your little finger in a finger bowl moistened with a few drops of water and then claiming that you went swimming in the Pacific Ocean. 
 
If anyone went to any store anywhere and saw a sign reading “HUGE SALE! Up to 1.6% off EVERYTHING!” they’d laugh the store to shame for promoting such an asininely ludicrous bit of blatantly fraudulent puffery and nonsense.
 
The stock market is that store.

And yet, doomsaying prognosticators take immensely perverse delight in inflating the numbers — yes, INFLATING the numbers (manipulating them might be more accurately descriptive) — to make them appear as WORSE as they possibly can merely in order to get folks to read their driveling tripe. Colloquially, that practice is called “clickbait.”

Remember: 
• The difference between 1 and 2 is 100%. 
• Conversely, the difference between 2 and 1 is 50%.
• Further, the average of the two differences is 75%. 
 
And yet, if someone had $1.00, and lost (or gained) 2¢, that’d hardly be anything to crow (or cry) about, either as loss, or gain.
 
And, if we average 1% and 1.6%, that yields 1.3%, which is a 23% decline from 1.6%, and a 30% increase from 1%. 
 
Now, THAT’S where and how the numbers get inflated, just like in the portion of the story excepted & linked below.
 
The pertinent portion of the article ought to read as follows (without using emotionally exaggerated terms):
 
Wall Street’s three major indices — Standard & Poor’s, Nasdaq, and the Dow Jones Industrial Average — all experienced declines ranging from 1% to 1.6% yesterday.
 
But, not to worry… the sky is NOT falling.
 
And in other news…
 
World renown Swiss tennis pro Roger Federer retired yesterday after losing the final match of his 24 year career.
 
He teamed in men’s doubles with longtime friend and rival Rafael Nadal to challenge American duo Jack Sock and Frances Tiafoe, who won the Laver Cup in London’s O 2 arena 4-6, 7-6 (7-2), 11-9.
 
And that’s all the news from Lake Doomandgloom.😳😂
 
——//——
 
“Stock markets continued their weeklong plunge on Friday, with all three major indices falling more than 1%, as investors who are losing faith in the global economy rushed for the exits.
 

“The Dow fell more than 486 points, or 1.6%, to close at 29,590 on Friday, the lowest in nearly two years. The Dow was down 4% for the week, and also closed 19.59% from its most recent peak in January – bringing it right up to the demarcation line for bear markets of 20%.

“The Nasdaq and the S&P 500 have now both entered into bear markets. The Nasdaq fell 1.8% to 10,868, or 32.3% below its most recent peak 10 months ago. The S&P dropped 1.72% to 3,693, down 23% from its January peak.”

—MORE—
 

Stock markets drop as Wall Street takes a gloomy view of the economy

https://www.npr.org/2022/09/23/1124713385/stock-markets-drop-as-wall-street-takes-a-gloomy-view-of-the-economy

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