Wall Street Divorced From Reality

No one knows yet where the coronavirus pandemic will lead. The stock market acts like all is well and the pandemic is nothing but a minor crisis. Maybe the pandemic will prove to be no worse than a bad flu outbreak. No one knows yet. Having made the stock market the only game in town means propping it up no matter what. Perhaps the next step to keep the rally going will be for the federal government to print trillions of more dollars and outright buy stocks.

The coronavirus pandemic may prove far more damaging to human health and world economies than stock markets indicate. Hopefully not, but only time will tell the true story. Not stock markets.

In developing countries, lockdowns mean food shortages. Millions of impoverished people in developing countries are going hungry from the food shortages caused by lockdowns. The world's religious, political and economic structures are not strong enough to prevent or withstand pandemics, droughts, wars and all the human caused environmental destruction.

The state of the world is not reflected in stock markets. The real measures of wealth, including healthy environments, biodiversity, religious and political stability and freedom, are declining. The stock market rising in the middle of a pandemic is yet another indicator of how divorced it is from reality.