‘The S&P’s new highs are a tale told by an idiot, full of sound and fury, signifying nothing about the hardship of millions of people on food stamps, or the millions about to be fired from service jobs, or the homeless, or the people who are just huddled at home waiting for the vaccine, which currently feels a lot like waiting for Godot.’
That’s CNBC’s Jim Cramer summoning his inner Samuel Beckett to talk about the disconnect between equities and the harsh reality of what’s going on in the U.S. economy.
“We’ve had a magnificent V-shaped recovery in the stock market, but the stock market’s not a great reflection of the broader economy anymore,” Cramer said. Read more…..
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Ray Dalio, the billionaire founder of Bridgewater Associates, the world’s largest hedge fund, discusses his views on the global economy amid the coronavirus pandemic and why he’s worried about the U.S.’s ability to compete with China. He spoke in a 30-minute conversation with Bloomberg’s Erik Schatzker during the Bloomberg Global Asset Owners Forum.