US unemployment is now around 13%, the highest since the Great Depression. Yet the stock indexes continue to creep up. What's your favored explanation?
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Beacuse we know its not fundamental economic problems that created the unemployment, like 2008
Seems like folks not having jobs or income is kind of a fundamental economic problem.
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I think they mean 'fundamental' as in 'inherent to the workings of the economy' like the great depression or the great recession. The coronavirus is exogenous, like the 1970s oil crisis
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The market is a reflection of sentiment, not reality. There are many people feeling bullish about an economy which currently does not exist due to stimulus packages and an expected bounce. It will be OK, eventually.
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