The billionaire is at is again talking painful truth that mainstream Wall Street doesn't want to hear.How can major US corporates spend 90% of their profits (7 trillion USD) to buy back stock and dividends to enrich the 1% that own these stocks including the corporate executives who buy these stocks personally,then have their companies as separate legal entities buy back the stock using company profits to artificially raise the stock then the executives sell these risen stocks at super profits?Ponzi scheme shenanigans to me.Then when these stocks started to crash a few weeks ago,they cry to the Fed to print new trillions to bail them out raising their stock prices once more for them to sell at super profits.As the Fed pumps trillions to be immediately injected into these corporates,the small restaurant,barber shop,that waitress is yet to receive the scraps bones of bailout money left once the Wall Street fat cats have already eaten the meat

USA economy shrinks by 4.8% in Q1

The collapse of stocks is coming,the rally is not sustainable.
Jerome Powell:Unemployment rate likely to surge into double digits

Spot on @Ericsson.The recent rally on Wall Street is a typical bear market rally after a big stock market crash during a recession.This rally creates false optimism and sucks up retail investors then the real crash plays out later.This phenomena has happened during all US recessions including the 1929 Stock market crash and resultant Great Depression in the 1930s,the dotcom collapse in 2001 and the real estate meltdown during 2008.

Its a rally fueled by Fed money printing and no fundamentals.How can stocks possibly rise when US has the largest number of covid-19 cases and deaths,citizens are still on lockdown and millions losing their jobs every week (this week 3.84 million jobs lost totaling 30 million job losses for the last 6 weeks) yet equities keep surging?

Once one knows how Wall Street really works then realizes what a joke it all is.Bad economic news is good for the stock market as bad economic data means the Fed will print more money to offset the economic decline so stocks get bought up with newly printed US dollars.

Yeap.At least today thus far stocks have faced reality and sunk due to the 3.84 million jobs lost in the last 7 days.In prior weeks where even more than 5 million jobs were being lost,stocks rallied as investors knew the Fed will print more money to buy all asset classes including stocks to offset job losses.

Who knows the day is young.Equities may stage a major comeback as Plunge Protection Team buys equities in mass to prevent a broader sell off.Very volatile market with wild up and down swings