Stock Markets Soar To Record Highs

But the booming stock markets will offer little solace to the many millions of people who have lost their jobs and livelihoods as the coronavirus pandemic pushes economies around the globe ever deeper into recession.”This is the great American comeback!” tweeted Trump’s deputy Mike Pence last Tuesday, after the S&P 500 stock index soared to a fresh historic high and the tech-rich Nasdaq notched up one record after the other in recent weeks.However, the disconnect between the financial markets and the real economy could not be starker as coronavirus lockdowns destroy untold numbers of jobs and push even traditional economic powerhouses such as the US, Britain and Germany into unprecedented contractions.The US economy, the world’s biggest, contracted by 9.5 percent in the second quarter, Britain’s economic output shrank by 20.4 percent and Germany’s by 10.1 percent.

Source: It’s Not The Economy, Stupid: Stock Markets Soar To Record Highs