It is deeply uncomfortable to watch Wall Street party while Main Street emerges from lockdown into tear gas, but the market isn’t taking a moral position, writes jmackin2
TV gameshows have demonstrated that humans are prepared to make fools of themselves when there is a chance of winning a big pile of cash. Instead of a fast-talking game show host we have Mr. Market, and the pile of cash is provided by the Federal Reserve rather than a production company. But human foolishness never changes.
Today’s question for the audience is: Why is the market rising even as U.S. cities burn, Hong Kong becomes a flashpoint in China relations with the West and the prospect of a second round of coronavirus...
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