June 10, 2020

208. Share Crazy

The world is facing the greatest economic downturn of our time. In the US at least 15 million more people are unemployed than just a few months ago. There are fears of a second wave and, even if it is contained and a cure is found, the chief scientist at the World Health Organisation is now saying it could take up to five years to get the virus under control. Meanwhile, as governments inject trillions of dollars of stimulus into the economy, share prices are reaching all-time highs. How can that be? How can the markets behave as though we were in the midst of the best of times? Phil Dobbie talks to Prof Steve Keen about what’s really driving share prices ever upwards.

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