by Colin Lloyd
The American Institute for Economic Research
It has become evident over the last few months that the stock market and the economy can dance to very different tunes. During a period of just over three months, the Nasdaq 100 not only recovered from a 32.5% decline, as the worst fears emerged about the global pandemic – which tragically continues to infect more people each day – but took out its all-time-high from February 2020.
Meanwhile, according to Nouriel Roubini, the ‘Coronavirus pandemic has delivered the fastest, deepest economic shock in history,’ whilst the International Labour Organisation estimates that working hours, globally, declined by around 10.7% in Q2, 2020, compared to Q4, 2019. That is equivalent to 305 million full-time jobs lost.