That isn’t how recessions usually work. In 2008 financial crisis, US households lost $8tn. During Covid, most Americans got richer—especially the Rich.

WHAT? US households gained $13.5tn in wealth in 2020, biggest increase in records going back 3 decades. That isn’t how recessions usually work. In 2008 financial crisis, US households lost $8tn. During Covid, most Americans got richer—especially the Rich. t.co/nGXd5B3DaQ pic.twitter.com/nDlodZAh0J

— Holger Zschaepitz (@Schuldensuehner) June 27, 2021

Households; Corporate Equities and Mutual Fund Shares; Asset, Market Value Levels have expanded by $8.8 trillion in asset value between Q4 2019 and Q1 2021.
The fastest and largest valuation expansion in history. pic.twitter.com/RVjbTYuNKR

— Sven Henrich (@NorthmanTrader) June 27, 2021

S&P 500 closed at an all-time high last Friday for the 31st time this year.

There have been 307 all-time highs since the beginning of 2013 w/ at least 1 all-time high each yr (8 yrs in a row). From 1989-2000 there were 327 all-time highs w/ at least 1 per yr (11 yrs in row). pic.twitter.com/Nqt7D3GkN5

— Charlie Bilello (@charliebilello) June 27, 2021

Perhaps it would be less of a headache if the Fed didn’t insist on still buying $40B in MBS a month via real estate investor BlackRock, a policy originated to combat the housing crash of ‘08.
There is no housing crash now but distort things enough & you may get another one. t.co/9Kl3fdIdKg

— Sven Henrich (@NorthmanTrader) June 27, 2021