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There's nothing irrational about buoyant stock prices

The resilience of stock markets in the face of economic catastrophe actually makes some sense.

Who is to say that the collective judgment of millions of investors is wrong?

Jeremy Warner 6 June 2020


Markets are celebrating $9 trillion of stimulus across the world, but they have either forgotten why authorities are having to take wartime counter measures, or they are ignoring that a V-shaped economic recovery is not in fact happening anywhere 


The Great Crash came in two phases


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