The equity rally since March may seem in conflict with a sharp economic contraction, but it reflects the inefficient delivery of government stimulus. Instead of going to the most affected individuals and businesses, a large portion ended up in the financial markets instead.
A Major Reason For The Market Rally Is The Inefficient Delivery Of Government Help
Forbes - 23 Jul 2020 23:10
The equity rally since March may seem in conflict with a sharp economic contraction, but it reflects the inefficient delivery of government stimulus. Instead of going to the most affected individuals and businesses, a large portion ended up in the financial markets instead.
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