Nightlife blog Guest of a Guest has noticed that the popularity of Google searches for the word “socialite” tapered off almost exactly around the time that one of the first major hedge fund to succumb to the credit crisis, Sowood Capital, collapsed. In fact, they note that a graph of the popularity of “socialite” searches very closely resembles charts of both the Dow Jones Industrial Average and S&P 500 over the past four years. So which came first? The chicken or the overly coddled egg.
Graphs from Guest of A Guest below:
The popularity of Google searches for the term “socialite” from 2004-2008:
The Dow Jones Industrial Average over the same period:
The S&P 500 over the same period: