Are Markets the Best Economic Indicators?
Yesterday, Goldman Sachs made headlines with their record quarterly earnings, taking in $3.44 billion in just four months. That may be a sign of a strenthening economy. And yet unemployment has continued rising: nationally 9.5 percent, the highest rate in 26 years. Which of those two numbers tells us where the economy is headed, and which just tells us where its been? Here to help us figure that out is Lakshman Achuthan, managing director of Economic Cycle Research Institute (ECRI), a company that forecasts recessions and recoveries.
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