Stock market traders are ignoring the normal signs of economic instability, like rising inflation and interest-rates. Instead, they are betting that with more and more people vaccinated, the economy will get back to “normal”. But this scenario ignores the facts that a) the infrastructure is crumbling, b) there is a mountain of bad debt, and both of these things were true BEFORE Covid hit. Furthermore, stock traders are ignoring the fact that workers are not returning to work in spite of not having Covid, and there is also a growing strike wave among workers currently employed.
Read Michael Roberts in The Next Recession
