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Economy

Hugin

(38,002 posts)

2. My take on this is the US Markets are benefiting from the recovery of the rest of the World...

Reply to progree (Reply #1)

Wed Sep 2, 2020, 08:51 AM

Sep 2020

who have mostly done the correct things in response to the COVID pandemic. Whereas, the US has done almost nothing correctly, if anything at all in response.

For instance, this morning's articles are touting a "V" shaped recovery in manufacturing. Since the US shifted to a Service based economy instead of Manufacturing in the Reagan era, guess what, they're not talking about us. But, the Markets will spike on the news leaving the true story of the domestic economy in the dust and widening the divide between what would appear to be the state of the economy as indicated by the stock market and the reality on Main Street.

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Amazon Drivers Are Hanging Smartphones in Trees To Get More Work in desperate economy [View all] progree Sep 2020 OP

Yeah I know, S&P 500 is up 9.2% year-to-date, so everything is super duper, right? progree Sep 2020 #1

My take on this is the US Markets are benefiting from the recovery of the rest of the World... Hugin Sep 2020 #2

Yup, 40% of the S&P 500 companies' revenue is from abroad progree Sep 2020 #3