A Persistent Delusion
Research Reports – 12/01/2008
Article 1: A Persistent Delusion
Recent Wall Street developments seem to underscore the apparently growing distance between economic/financial fundamentals—including business-cycle conditions and corporate performance—and the bullmarket enthusiasm that propelled the common-stock indexes to near record highs even in the face of deteriorating business conditions. It may be useful at this juncture to recall AIER’s long-held views in respect to predictions of short-term movements in the prices of common stocks.
Article 2: Business Cycle Conditions
Economic activity continues to contract in the manufacturing sector, the employment situation is worsening, and housing is still in a deep slump. How extraordinarily long this recession will last remains to be seen.
[pdf-embedder url=”https://www.aier.org/wp-content/uploads/2013/11/RR20081201.pdf“]AIER Staff
Founded in 1933, The American Institute for Economic Research (AIER) educates people on the value of personal freedom, free enterprise, property rights, limited government, and sound money. AIER’s ongoing scientific research demonstrates the importance of these principles in advancing peace, prosperity, and human progress.
