The Wall Street CW is that pandemics are passing biological events as opposed to economic structural issues and the markets are forward looking so the pandemic can be ignored. What a load of horse shit. On what basis can we predict a rebound to something resembling the economy of January 2020? That seems to overlook an awful lot of economic destruction and include an assumption that it will all be repaired free of charge somehow. It seems to ignore the cost of losses already incurred and the needed expenses to restart.
The last half of the video just reinforced precisely what my theory of the state of events already is. The Fed is propping up the securities and equities market. The practical effect is to insulate the wealthy from the downside risk of reality. The now familiar refrain, privatized profit, public risk.
Viewed through a political lens, I wonder how the electorate will see this. I'd imagine that many of us with 401K's are kind of glad about it, some realizing the true source of their good fortune and some feeling they're financial geniuses. I'm more interested in the half that isn't invested. Do the artificially restored stock prices give them a sense of comfort about the economy or are they a source of resentment? I really can't guess what the ratios might be there. I know one of the Dumplette's just recently bragged about new highs on the markets and got Twitter slammed about the stock market not being the real economy.
Quote:
Originally Posted by SR71
[snip]
Dump is a known quantity now, rather than a hypothetical swamp drainer/wall builder/jailer of Hillary. The result ain't pretty. 140k and climbing dead, millions out of work, the glaring disconnect between the capital markets and the real world. These have to leave an impression.
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