The Internal Revenue Service concurs with Swonk. In a recent forecast, it predicted that there will be about 229.4 million employee-classified jobs in 2021 – more than 37 million fewer than it had estimated last year.
With poor economic results and dire predictions, why has the stock market soared since the March lows? The answer is investors are not worried about the past or even the near term; rather they are looking ahead to the future, and betting that on corporate “winners” of COVID-19 (think Facebook, Apple, Amazon, Tesla, Microsoft, Google, Netflix), and their ability to make a lot of money.
Additionally, with the Federal Reserve committed to keeping interest rates at zero for the foreseeable future, the notion of TINA is important. Who is Tina, you ask? TINA stands for “There is No Alternative,” and it is applied to the investment world as follows: “With zero percent interest rates,