There is no connection between the stock market and reality.

A thread:

1. Airlines spent 96% of free cash flow on stock buybacks for a decade, then cut 90,000 jobs as soon as trouble hits. Then they got a $50 billion

2. GE promised its CEO a huge bonus if stock hit $19. It didn't

So GE re-did contract so the bonus kicks in at $10/share

The CEO cut 20% of aviation staff to increase profits and raise the stock to $10

His bonus: $47M. If it goes up again he gets

3. JCPenney
April: furloughed 85,000 employees
May 10: Gave CEO $4.5 million bonus on top of $17 million/year in pay
May 15: went bankrupt
Oct: laid off 15,000 people
Dec: closed 150 stores
Now: CEO left with $4.5M bonus after stock fell 88% in her 2

4. Boeing
Spent almost all of its cash on stock buybacks over the prior decade. In the past year, it cut 27,000 employees.

It also fired its CEO over 2 deadly plane crashes and ensuing coverup, and gave him a $81 million exit

5. On Jan. 6, when the mob stormed the Capitol, the stock market went up 250 points to a new record, handing the richest 1% an extra $300 billion.

Also that day, a new report showed employment dropped for the first time since April and a then-record 3,900 people died of covid.