[oregontim]

I agree that it seems bizarre to have stocks doing well while the economy crashes.



Not my expertise, but I had a good conversation with a smart investment advisor, who told me that although it is counter-intuitive, since the middle of the last century, stock prices correlate way more with two drivers than with any other factor:

• Energy prices. Inverse correlation of course.
  
• Corporate profits.
  

So today, even while so many indicators are so disastrous, the crisis has pulled energy prices down while the 2017 tax cut and 2020 corporate giveaways pushed profits up. Still seems weird to me, but we've had that talk multiple times since the crisis, and it seems to hold up.

[oregontim]

I agree that it seems bizarre to have stocks doing well while the economy crashes.



Not my expertise, but I had a good conversation with a smart investment advisor, who told me that although it is counter-intuitive, since the middle of the last century, stock prices correlate way more with two drivers than with any other factor:

• Energy prices. Inverse correlation of course.
  
• Corporate profits.
  

So today, even while so many indicators are so disastrous, the crisis has pulled energy prices down while the 2017 tax cut and 2020 corporate giveaways pushed profits up. Still seems weird to me, but we've had that talk multiple times since the crisis, and it seems to hold up.