Whilst 2020 brought misery and dislocation for tens of millions of Americans, thank to boom in asset prices those with stake in stock market and real estate saw a $12.5trn increase in net worth = largest ever recorded. Totally unlike 2008. @Gavekal pic.twitter.com/SXap6fxIGq

— Adam Tooze (@adam_tooze) January 17, 2021

The real reason lockdowns are ongoing and not going to stop anytime soon.