Tuesday, October 22, 2013

What's Wrong With This Picture?

The MSCI World index is back to within 2% of an all-time high.  Meanwhile the employment to population ratio in the US is languishing at levels not seen since 1983.  In 1983, the Billboard top song was Every Breath You Take by the Police.  In 2013, we are breathless trying to understand the relationship between stock prices and the real economy.

image