by Michael Snyder
The Economic Collapse Blog
No matter how bad things become, stock prices just keep going up and up and up. In 2020, we experienced the worst public health crisis in 100 years, the U.S. economy was plunged into the worst economic downturn since the Great Depression of the 1930s, Americans filed more than 70 million claims for unemployment benefits, and civil unrest raged in major cities all across the United States. Meanwhile, we witnessed the greatest stock market rally in American history. No matter what happened, nothing could seem to dampen the wild euphoria on Wall Street.
To start 2021, many believed that we had finally reached a point when bad news would finally start driving stock prices down. Yesterday, I wrote about how some experts were warning that stock prices could fall substantially if Democrats gained control of the U.S. Senate after the runoff elections in Georgia. Well, in the short-term those experts were proven wrong. In fact, the Dow Jones Industrial Average actually rose 437 points on Wednesday.