Jobless claims, total unemployment level worse than expected

Re:Jobless claims, total unemployment level worse than expected by voisin on Thursday June 04, 2020 @01:13PM (#23419179)

I think the point is that a worldwide pandemic, 40 million people unemployed, China annexing Hong Kong, and mass civil unrest should logically lead to far more of a downturn than merely 10% off all-time highs (which were already several standard deviations above long term price to earnings ratios).

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Re:Jobless claims, total unemployment level worse than expected by dirtnugget on Thursday June 04, 2020 @01:45PM (#23419538)

Does it really though? Money doesn’t care about people. Why should that annexation be harmful for the market? Why do 40 million unemployed a dent? They’re not the ones spending money because this crisis hit bottom first.

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Re:Jobless claims, total unemployment level worse than expected by mullen on Thursday June 04, 2020 @02:22PM (#23419976)

This is what I am starting to suspect. From the Stock Market's perspective, the economic bottom 30% don't matter. They don't contribute much to the economy and whatever happens to them does not really matter to the Stock Market.

Pre-COVID, I would never have believed that.

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Re:Jobless claims, total unemployment level worse than expected by voisin on Thursday June 04, 2020 @03:21PM (#23420668)

Go back to the market activity during the Arab Spring. The market definitely does care about uncertainty RE trading partners and Hong Kong is a huge trading partner.

40 million unemployed domestically means lower demand for many businesses. Who will buy new cars (with debt), houses (with debt), consumer electronics, etc etc?

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