After the Dow Jones Industrial Average (DJIA) cracked the 11,000 mark on April 12, some are asking if the economy is back. And while some want to credit President Barack Obama for this so-called recovery, is this financial market rally a true indicator of returning economic prosperity?
The anchor of “NBC Nightly News” asked just that question, pointing out the cover of the April 19 issue of Newsweek magazine that pronounced “
“I'm looking at the copy of Newsweek magazine out today,” Williams said. “It says
The story the Newsweek cover is advertising is by Daniel Gross. To be fair, the article doesn’t really claim that we’ve recovered from the current economic malaise. However, it points out that the
“And that's the key question for this economy,” Faber replied. “Far be it for me to seem unpatriotic, but one has to wonder in some ways. Economic growth from here is going to be dependent in part on the
Faber explained that disconnect with the stock market and the general economy is that these corporations have discovered how to become more productive and that has led to a reduction of operating cost, which has translated to a higher stock price.
“We're going to hear a lot from corporate