Economic Insights – December 2013
We seem to be in an unusual moment in economic history. The underlying economy continues to plod along, with productivity-enhancing advances in technology and very easy money keeping corporate profits strong.
At the same time, fiscal drag and a weak global economy keep aggregate growth low and unemployment high.
Low interest rates, coupled with high corporate earnings, have caused equity prices to soar, even as the broader economy remains on the same trajectory we've seen since 2010. This has taken the Dow past 16,000 and the.....