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ilex  ·  1727 days ago  ·  link  ·    ·  parent  ·  post: Why Are Stocks Soaring in the Middle of a Pandemic?

    Never before this spring have so many people lost their jobs so quickly, and never before have central banks stepped in to provide so much liquidity to financial markets with no obvious limit. A world with guaranteed income for capital and unprecedented unemployment for labor tells us about the relative power of each: It has become very expensive to buy social peace from capital, while labor can be offered next to nothing.