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Comment by Synaesthesia | Hacker News Reader

Because "the markets" meaning the stock markets is the owners and managers of capital, the wealthy adn the powerful. They did well, large Internet conmerce companies were positioned to take advantage of the pandemic. The markets don't care if lots of people lost their jobs or had an atrocious year. It's all about the quarterly profits.

And the stimulus bill was a huge boon to business. Most of it went to business.

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The money sent to households was largely used to prop up rents mortgages or food/transportation/insurance and other consumer goods.

All that money ended up in business coffers.

> The money sent to households was largely used to prop up rents mortgages or food/transportation/insurance and other consumer goods.

i.e. it was used by the people it was given to so they could pay their bills. You know, survive. Can you describe how a world would work where you can have one without the other?

> All that money ended up in business coffers.

...and most of it was then promptly paid out as wages to employees.

I made no comment as to whether it was a good or bad thing. I stated a fact.

But the fact that “the Market” has exploded in value while the Federal and State government is making direct payments in order to help a significant portion of the population just survive should be a little concerning, no?

> business coffers

That’s another way of saying that it was used to pay employees.

Ah, yes. It appears the banks that collected monies on mortgages and the landlords collecting rents just paid employees! How stupid of me. That must be why home values and the stock market are testing new highs! All those subsistence employees getting paid.

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