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Reporters think the stock market is some sort of perfect indicator on the health of the economy.

But where does that come from?

Mind you, the stock market is a sort of good indicator of the state of investor confidence.

Is the total stock market valuation a good proxy for the capital stock of an economy?

Those whom the Gods wish to destroy They first make mad. -- Euripides

by Carrie (migeru at eurotrib dot com) on Sun Oct 8th, 2006 at 06:26:09 AM EST
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