Millions of Americans unemployed, financial markets rallying – What’s happening?

It says a lot about financial markets when Wall Street has had its greatest week in decades while millions of Americans have lost their jobs. It shows the power of the Federal Reserve and Congress.

Justin Horwitz, a Democratic strategist, posted this screenshot of Jim Cramer and Mad Money. It quickly went viral.

Everything that is wrong with America, in one image. pic.twitter.com/ugrft95bAv

— Justin (@JustinAHorwitz) April 9, 2020

Of course, this will be blamed on free-market capitalism rather than central planning intervention. But it is still telling just how crazy this market is.

Since its bottom on March 23, the Dow Jones Industrial Average and the S&P 500 have rebounded about 20 percent from their lows.

It should be noted, too, that markets are forward-looking. All the bad news is already priced in, so it is not as cynical as it looks on the surface.