Stocks Soar As Covid-19-Soars Also! Where's the Logic?

Now where's the logic in this headline? It doesn't make any sense!

There was some good jobs-related news today, but even that has been called into question.

Stocks Leap As Real Estate Market Jumps

Meanwhile, another detail not included in this headline was that mortgage defaults are skyrocketing! So much for the health of the housing market!

But the Dow closed over 500 points today!

The Economy Is Tanking, So BUY STOCKS!

Dow was up nearly 300 points today! It's a good thing stocks were higher, or I would have thought that the economy was tanking! Just look at the real news in this headline on Marketwatch!

Stocks Rise As Housing Market Collapses

It's a good thing stocks are rising, or I would have thought the economy was collapsing!

Stock Bubble Continues It's Rise

Fortunately, however, China has shown some interest in buying agricultural commodities, so perhaps that's the reason stocks have risen today. At least global trade shows some positive signs.

Stocks Are Oblivious to 46 Million Job Losses!

It's a good thing that stocks ignored this news, or we might have thought something was wrong with the economy today!

Billionaire Investor Calls Bubble Top!

On Marketwatch today:
"/Jeremy/ Grantham painted a very dire picture of the investment landscape in the U.S., suggesting that rampant trading by out-of-work investors and speculative fervor... may be the most bubblicious he’s seen in his storied career."

Dow Crashes 1800+ Points

Disaster this way comes!

More Monetary Madness

Exploding deficit spending:

The Fed supports asset bubbles:

 Stocks keep going higher and higher into bubble territory, while the real economy tanks:

How Is This Anything But a Fed-Induced Bubble?

This is so obvious!

Dow Soars Due to Riots

I guess that riots are a good way to get the market to go up! This headline today from Marketwatch;

It's a Good Thing Stocks Are Up 500 Points, or....

But a reduction in nationwide rioting has taken precedence, as stocks are rallying big-time today!

Fed Figures Staggering Drop In GDP

"...the Atlanta Fed's closely followed GDPNow tracker confirmed this worst case scenario, when the latest model estimate for real GDP growth in the second quarter of 2020 crashed to -51.2% on May 29, down from -40.4% on May 28, which would be the biggest drop on record."

Dow Posts 200 Point Gain on More Dreadful News

Dow Soars 553 Points Despite News of Record Decline in Profits

And despite this awful news, stocks soared once again and shrugged off the bad news to reach another high.
I laughed when one commenter at the end of the article said this:
"Who needs an economy when we have central blankity-bankers who can create unlimited "digital dollars" (Powell's term) to artificially boost the stock market bubble via infinite amounts of helicopter money? "

Where's the Logic in This?

This morning, these are the main headlines for economic news:

2.4 Million Americans Lost Their Jobs In the Past Week

1.6 Million Homeowners Defaulted On Their Mortgages In April

The Dow Rose At Open After Being Down All Night

Go Figure! 

Debt Is Exploding Worldwide

And this is truly frightening! On the US Debt Clock website, at the top right corner, is a link called Debt Clock Time Machine. This link gives the viewer the amount of US debt for a specific time frame, both in the past and the future. When I clicked on the link to calculate the amount of US debt for the year 2024 -- less than four years from now -- is showing that based upon our current spending, we will have $43.6 trillion of debt. That is truly unsustainable!

Note: Update -- Two days after I posted this figure, it was updated to $44.1 trillion. It's rising even higher!

Fiscal Disaster This Way Comes!

I was shocked to see this headline just minutes ago!

Let's do the math on that! $1 trillion for one month X 12 months equals $12 trillion of spending for the year!
Even the deficit looks like a coming disaster! $738 billion for one month X 12 months equals a prospective deficit of $8.856 trillion of new debt for one year! That's more than 6 times the previous annual record! That ensures an eventual disaster!
Is is any wonder that the Dow futures are down 650 points as I post this?
And yet House Democrats are expected to pass another stimulus package today for an additional $3 trillion of spending! It guarantees a fiscal calamity!

Don't Try Telling Stock Traders This!

This article on Marketwatch today suggests that the economic rebound will not be a v-shaped recovery, but don't tell that to stock market traders today. After being down 200 points, the Dow has gone positive for the day.

Reality Only Gets Worse As Unemployment Skyrockets

Over the weekend, "Standard Chartered bank has calculated that adjustments to the headline unemployment rate push the effective number of unemployed to 42 million and the effective UR rate to 25.5%, higher even than the U-6 underemployment rate of 22.8%. Worse, if one treats underemployed in line with the U-6 methodology, the true April unemployment number would rise to an mindblowing 27.5%."
That's ugly beyond description!