Both of the movies The Big Short and Too Big To Fail have a moment where they're watching people come out of a subway or walk down the street, and say something like, "They don't have any idea what's about to hit them."

It sort of feels like that now. Lots of normality still. There is definitely something not right about the stock market not feeling the impact of millions of unemployed and more than half of retail stores missing rent payments.

Maybe there's macroeconomic explanations involving credit and the Fed. Maybe the stock market is in fact disconnected from the general economy as a whole, and is really just a plaything for giant corporations and the 1%. Maybe it's not as bad as it seems. Maybe everyone's betting on a V shaped recovery after the virus fades. But as we saw during the financial crisis, everything seems fine until it isn't - then things go pear shaped in a hurry.