“Unprecedented.”
If I had a dollar for every time I’ve said or heard that word in recent months, I’d have more than enough to grab several shares of Tesla (if I wanted).
I’m so tired of it, I may issue a moratorium for all our articles and videos going forward. The problem is there really isn’t a better word to describe what is going on right now.
Second-quarter gross domestic product plunged a historic 32.9%… The equities markets closed the third quarter with their best performance since 1998.
Jobless claims spiked according to yesterday’s report … and the S&P 500 Index is hitting record highs.
The fact is, the U.S. stock market has become increasingly detached from the reality of the underlying economy. Your gut reaction may be: “Who cares?” But today I’ll show you why it matters … and how it could affect you.
Just Who Is Benefiting From This Stock Market Mirage?
Don’t get me wrong. Investors’ short-term gains this year are real, but they’re only possible because the Federal Reserve is caught in a feedback loop that guarantees more and deeper financial crises in years to come.
Eventually, something must and will give … and the only way to protect yourself is to understand the nature of the real problem. That’s exactly what you’ll discover in today’s video. You’ll also find out:
- The stock market is officially back to pre-COVID levels. Does that mean the U.S. has recovered? (0:45–2:20)
- How the “financialization” of America has put us in a very precarious position… We are no longer a maker of things. We are makers of money. And that has had a profound (and scary) effect on stocks since 1990. (2:45–6:33)
- I follow the stimulus money trail to a $434 billion jackpot. But don’t expect to see a penny of that yourself. (9:54–10:50)
Click here to watch this week’s video or click the image below.
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Kind regards,
Editor, The Bauman Letter
