UK stocks rose during the worst recession on record when cloud firms boomed

Evidence

Half an hour or so earlier, the people of Britain had woken up to the news that the pandemic had caused the worst recession in history. Apparently, the UK’s national income had fallen by a whopping 20.4 per cent, far worse than any comparable figures in America or continental Europe. Wretched news it certainly was, though not of the sort that undermines one’s world view. It was what followed fifteen minutes later, just before you woke up, that changed the way I saw the world. Instead of plummeting in response to the data, the London Stock Exchange jumped up by 2.3 per cent! — Yanis Varoufakis, Technofeudalism, 367

Categorization

• XREF: Evidence of the decoupling of asset prices from the real economy that defines rentier platform capitalism.
• SHARE: A striking concrete data point (UK GDP -20.4%, LSE +2.3% same morning) worth sending to a finance/economics friend.
• corroborated: 2 independent passages support this claim — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 367