Posteado por: testing4u | marzo 7, 2009

Battered expectations.

Philip Greenspun with an astute observation:

This evening’s New York Times was worrisome. An inset box showed that the S&P 500 had fallen 4.25 percent for the day, wiping out roughly a year of investment returns. A few months ago this would have been the top story. Today, however, it did not even make the front page. There were no articles talking about the collapse of the stock market unless you clicked into the “business” section. Investors in the U.S. economy being destroyed isn’t news anymore.

And, of course, the sobering perspective:

Number of times in 2008 that the S&P 500 closed up or down 5 percent in a single day: 17

Number of times between 1956 and 2007 it did this: 17

Depressing how shell-shocked we’ve become to what’s happening to our economy. What used to be fairly harrowing news doesn’t register with us anymore. It’s the law of diminishing returns applied to the daily headlines and what passes muster with us.

(thanks DF)

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