by Steve St. Angelo
It’s no surprise to most investors that the Fed is propping up the stock market. However, if we compare the Dow Jones Index versus the continued unemployment claims, something seriously wrong is going on. According to the St. Louis Federal Reserve, continued unemployment claims are nearly four times higher than the peak reached in June 2009.
When the continued unemployment claims reached a peak in 2009, the Dow Jones Index had fallen 54% from its highs in 2007. On the other hand, today, with 25 million Americans receiving unemployment insurance, the Dow Jones is only down 13% from its high.