from Schiff Gold
The Nasdaq and S&P500 made new all-time highs last week. That leads many people to believe the economy must be doing OK. But as Peter Schiff explained in his podcast, the very thing that’s helping Wall Street boom is crushing the actual Main Street economy.
If you really stop and think about it, the continued stock market climb should be a bit perplexing. After all, the economy was effectively shut down for weeks and governments continue to impose many restrictions to this day. Unemployment has skyrocketed and we remain in the midst of a deep recession. And yet we have a booming stock market. Peter said surging stocks are actually misleading a lot of people into believing that the economy is stronger than it actually is.