Driven by rapidly increasing numbers of digital photographs, the benchmark Canon-Webster Picture-Words Index fell below 1000 words per picture for the first time today. Analysts expect it to go lower.
“It’s going a lot lower,” confirmed trader Byron Franklin. “We expect one picture to be worth as few as 100 words by the end of this year and drop further the next year.”
Data from the Sony-Webster futures market backs up Franklin’s view. Contracts for June pictures are trading for two hundred words per picture (WPP), and contracts for January 2009 picture are at an all-time low of 10 WPP. The January drop is based on projected digital camera gift-giving, snap-shooting and image-uploading next Christmas. Picture options and other picture derivatives show similar downward trends.
“This is the worst news we've had since a stitch in time saved only 8.7,” said Franklin.A stitch in time currently trades at a historically low 2.3.
1 comment:
This is truly a bad sign. If we reach the point where a bird in the hand is no longer worth 2 in the bush, I'll begin to question society's direction.
I mean, it's bad enough that a penny saved is now only 0.93 pennies earned.
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