Part 9/11:
Many investors and mainstream analysts have continued to focus on stock market performance, wrongly equating it with overall economic health. Yet, Wall Street's optimism has ignored the underlying deterioration of the real economy. The disconnect is evident in the revisions of job estimates by data providers like Rellio, which have consistently shown employment figures shrinking from seemingly positive numbers to negative territory as revisions are made.
This pattern, common over recent months, underscores a market bias that fails to reflect the true state of the labor market. The real-world indicators—rising layoffs, slowing hiring, increased delinquencies—are pointing toward a contraction that will soon manifest in broader economic measures.