Stock Market Relevance Editorial
I strongly agree with your incisive editorial which eviscerated the common myth that the stock market accurately represents the U.S. economy. As you point out there is in fact a major dichotomy between the stock market and the economy, known as the Wall Street-Main Street disconnect which continues to be a huge factor in the long term erosion of America’s essential middle class, the country’s heart and soul.
The coronavirus pandemic has clearly intensified this trend toward growing economic equality to the point where significant public sector monetary and fiscal policies are urgently required for immediate implementation in order to avoid a 1929 era Great Recession repeat. Louis Brandeis was right: “America can choose between a true democracy, or wealth concentrated in the hands of a few, but not both.”
The country must immediately invest in our long-term future to begin the rebuilding of our middle class which historically has been the nation’s economic recovery engine while reducing economic inequality.