SFLA - The Economy Is Suffering A Stroke Not Sniffles. Federal Relief Is Expensive
If something is true, no amount of wishful thinking will change it. Richard Dawkins
US Gross Domestic Product ((GDP)) decreased 7% in the second quarter of 2020, the largest quarterly decrease since World War II. Reports sensationalize this 7% loss by annualizing it to 32%. Also, in the quarter unemployment averaged 14%, the highest since the 25% unemployment rate in the Great Depression. Yet the US stock market returned 21% in the quarter. The pandemic is getting worse and the stock market is in denial, completely disregarding bad economic news.
Fed intervention is part