by Michael Snyder
The Economic Collapse Blog
Have you been watching the madness that has been unfolding on Wall Street? Even though we are in the middle of the worst global pandemic in 100 years, and even though rioters and looters have been turning our major cities into war zones, stock prices have been going up day after day. In fact, the Nasdaq closed at an all-time record high on Monday. Sometimes people ask me to explain this rationally, and I can’t, because the Federal Reserve has transformed our “financial markets” into a total mockery at this point. The real economy is literally collapsing all around us, but thanks to Fed intervention stock investors are doing just fine. It has been absolutely disgusting to watch, and if Adam Smith could see what was happening he would be rolling over in his grave. Unfortunately, thanks to our rapidly declining system of education most Americans don’t even know who Adam Smith is anymore.