Listen up people.. the stock market does not have a conscience..

[Peacetrain]

It does not looks at trends of people losing jobs... the market is about making money.. and most times, when we lose jobs the market goes up.. This is why President Obama did not sit and crow about his growing stock market.. he was looking at job numbers...

The volcano under Yellowstone park could explode tomorrow and the market still go through the roof..

[uponit7771]

1. K&R, especially seeing most of the large leg ups in the indexes are AFTER HOURS !!!

[Peacetrain]

3. I know, President Obama's steady job growth for nearly all of his Presidency

after he put in all his programs was stunning. and even the market grew at a steady pace... When he left he was cutting into the deficit.. Republicans are a nightmare when it comes to economics.. they do it all on the credit card and are too gutless to tax to pay for it sticking all of it on the backs of our children

[uponit7771]

5. +1, 3 republican presidents in my voting life and 3 fucked up economies I don't see how Gen X can...

... ever vote for a republican

[Alacritous Crier]

8. True.

Hopefully the will be out of the majority for another 40 years.

[2naSalit]

2. All it ever indicates to me is

what kind of bullshit will emerge from the WH next time something spews forth.

[Peacetrain]

4. True that!!!

[hatrack]

6. Sharks swim and feed - it's what they do, it's all they do and they're good at it . . .

The problem arises when we hire them to serve us as lifeguards, or expect them to hold the same values as we do.

[Orrex]

7. Fuckhead Trump will insist that the rising DOW means three things:

1. That he is a magnificent leader
2. That citizens absolutely don't need a second $1200 bailout pittance
3. That corporations absolutely do need yet another trillion dollar bailout

[genxlib]

9. You are right in the best of times

Now it is both conscience free and disconnected from reality.

I expected it to bounce part of the way back up since some portion of the lockdown was temporary. But the market is acting as if all of it was temporary and that economic activity and the stock market can be back at January levels.

That just isn't going to happen.

The way I see it, there are three categories of losses.
1. Losses that are gone for good.. ie meals not eaten, trips not taken, gas not used
2. Losses that will get recouped through pent-up demand ... ie toaster not bought in March but bought in July
3. Losses going forward that due to reduced operations...ie reduced capacity, people staying home, extra labor costs with protective measures.

All three categories are real

Real economic activity will bounce back some fraction but I figure it will take at least two years to get back on track.

It seems to me that the market is pricing based on "not-as-bad-as-we-thought" or "thank-god-its-over" instead of real actual activity.

[I_UndergroundPanther]

10. Yes

And I say cut the invisible hand clean off.

The invisible hand is the greedy rich using the government to rob the nation for themselves.

Never trust a billionaire or multi millionaire for thier consience in many cases is dead.

Cap individual wealth so they can't control the country again.