Why Markets Boomed in a Year of Human Misery
- Date: 01-Jan-2021
- Source: The New York Times
- Sector:Economy
- Country:Middle East
Why Markets Boomed in a Year of Human Misery
The central, befuddling economic reality of the United States at the close of 2020 is that everything is terrible in the world, while everything is wonderful in the financial markets.
It's a macabre spectacle. Asset prices keep reaching new, extraordinary highs, when around 3,000 people a day are dying of coronavirus and 800,000 people a week are filing new unemployment claims. Even an enthusiast of modern capitalism might wonder if something is deeply broken in how the economy works.
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