It's perfectly fitting that in an economy which - as of tomorrow morning - will have 30 million newly unemployed workers (and perhaps as many as 50 million), and where the recession officially began after the biggest GDP plunge since the financial crisis (soon to be followed by an even worse collapse in Q2 growth) that stocks would soar almost 3% and tech names are now flat for the year.
Chart too big to post........
Some would call it a depression; others a new bull market.
But maybe we are somehow misreading today's GDP print? Maybe, hidden somewhere deep between the lines there was just the right amount of good news the algos were looking for and the economic crash was really a catalyst to send stocks surging? Maybe we are deluding ourselves, and it wasn't that bad? Well, according to JPM the answer is...
Nope, it looks like that the data was indeed bad. So bad, in fact, that stocks exploded because thanks to central planning, the worse the news for the ordinary man on the street, the richer Wall Street gets, courtesy of Powell. Here are the details from JPM:
http://www.zerohedge.com/markets/jpmorgan-if-there-any-good-news-report-dont-believe-it?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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