A Stock Market Boom amidst a Real Economy Crisis 

SOMETHING very odd is happening in the United States. The coronavirus toll keeps rising with no end in sight. The economy has virtually collapsed with more than 40 million people filing for unemployment. Thousands are out on the streets protesting against the rampant racism that marks that society. Relations with China have reached a nadir. Altogether, as philosopher Cornel West put it, the US is showing every sign of being a “failed social experiment”. And yet there is a veritable boom in the US stock market. The stock market index Nasdaq has increased by more than 40 per cent since March 23 and is now “within striking distance of all time highs” as one commentator put it.The myth of the stock market being a barometer for the real economy has finally busted.

Source: A Stock Market Boom amidst a Real Economy Crisis | Peoples Democracy