Via WaPo:
Economists cite stocks soaring above widespread pain in the real economy as a vivid example of the best-of-times, worst-of-times dynamic emerging from the coronavirus pandemic. It is evidence, they say, that a stuttering recovery isn’t shaped like a U, a V, or even an L, as much as a K, whereby those at the top of the heap strengthen their positions while the rest see their fortunes further degrade.
“It’s one recovery for financial market investors and another recovery for everybody else,” says Joe Brusuelas, chief economist at RSM.
