The Market Has Already Collapsed. WWIII and Fake Capital Markets
News of the deep, steep collapse came as a resurgence of outbreaks has pushed businesses in many areas to close for a second time. The government’s estimate of the second-quarter fall in the gross domestic product has no comparison since records began in 1947. The previous worst quarterly contraction — at 10%, less than a third of what was reported Thursday — occurred in 1958 during the Eisenhower administration.
Eternal capital growth is over. Capturing the consumer in a bubble of fear is all they have left. It’s pleasurable to be right but it provides little happiness.