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One of the striking financial characteristics of this pandemic stricken world has been the extreme divergence between the sickening economic reality on the ground and the out of this world exuberance in the stock market, which started long before now when businesses are slowly and sporadically being allowed to reopen.

This week\u2019s guest\u2019s interpretation of the data is the polar opposite. He has widely followed economist, David Rosenberg, President, Chief Economist and Strategist at Rosenberg Research & Associates,

Last week, in Part I of our interview, he told us the economy was already going into a recession when the pandemic hit, that it has dramatically deepened, and that unless there is a vaccine soon, which he doubts will happen, that the damage will be lasting.

This week, in Part 2 of our interview with Rosenberg, he focuses on the markets. He says it is impossible to reconcile one of the highest unemployment rates since the Great Depression with the recent biggest 50-day post bear market rally in the S&P 500\u2019s history and that something has to give. Despite the market\u2019s impressive performance since the March lows, he remains bearish, calling the experience a classic bear market rally. In this week\u2019s interview, we discuss what has led him to this conclusion.

Rosenberg will also explain why he believes the pandemic has brought about a fundamental shift to what he calls a \u201cHomebody Economy\u201d, and what that means for investors. He agreed to share his list of \u201cHow to invest in the Post-Crisis \u2018Homebody\u2019 Economy\u201d with us on our website.

WEALTHTRACK #1651 broadcast on June 29, 2020

More info: https://wealthtrack.com/this-is-a-bear-market-rally-life-has-changed-homebody-investments-will-flourish-says-rosenberg/

Letter from the \u201cNon-Bearish\u201d Chief Economist: https://wealthtrack.com/wp-content/uploads/2020/06/Letter-from-the-Non-Bearish-Chief-Economist_Special_Report_2020_05_06.pdf