Nancy Grace is on Dancing With The Stars. There’s no better time than now to rant a little about media hysterics.
Over the last few weeks the stock market has gone way down and then way back up. Rollercoaster is a good work for this and I won’t gripe about it when I hear it. What I find very annoying is how almost everyone in the electronic media describes the drops in the market with frantic and panicked terms. A drop of 250 points or more is a “bloodbath.” If the market goes down 200 points it is “a plunge.” In the 150 point range we have “major drop.” What bothers me most is that no one in network or cable news seems to have perspective on this anymore. These terms were appropriate when we had a Dow in the 6000-8000 point range. With the Dow over 11,000 swings like this are not such a big deal.
I am also bothered by the lack of reverse hysteria. After the market drops 250 points one day then goes back up the same or more in the next two days, no one breathlessly proclaims that we are all saved and we might all get to retire after all.
I would like to suggest a new vocabulary for newscasters to use when the market goes down then back up.
Up 250 points- The market did a whoopee
Up 200 points- The market flew like Superman
Up 150 points- The market danced like Beyoncé’
At least it would be entertaining.
