Although it's down a bit today, the Dow hit 13,000 this week for the first time since May, 2008. NASDAQ flirted with 3000. One US company, Apple, is now valued at over $500 billion, higher than the gross domestic product of Poland, Belgium, Sweden, Saudi Arabia or Taiwan. Yet manufacturing growth has slowed, construction spending has slipped, and consumer spending remains weak. Both housing construction and Americans' after-tax income actually fell in January. What accounts for the disparity? How important is it? What can be done about it? And how will all this play out in this year's elections?
The Continuing Disconnect between Wall Street and Main Street
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Daniel Gross - Strategy + Business - @grossdm, Robert H. Frank - Cornell University - @econnaturalist, Tom Donlan - Barron's - @barronsonline, Dean Baker - Center for Economic and Policy Research - @DeanBaker13