Economically it is not over yet. As you know the economy fell off a cliff and whereas it has kind of recovered somewhat from the low point in April, they are far from where they were say a year ago. So to say that everything is hunky-dory is a wrong statement. The markets have recovered and if you had an index of mom-and-pop stores or small businesses, it would look disastrous, a complete collapse.
There are many small businesses in the western world that will not re-open, there are many businesses in emerging markets they will never re-open, maybe a new crop of businesses will come up. But if you say that everything is fine, it is sticking your head in the sand.
The reality asset markets have done well and the Federal Reserve has said repeatedly that they will address one of their concerns of wealth inequality. Well, so far that they have been very successful at making the rich people richer and the poor people essentially poorer...
- Source, Economic Times
