​Economist is ‘very uncomfortable’ by level of US stocks

​Economist is ‘very uncomfortable’ by level of US stocks

The better-than-expected jobs data last Thursday saw the Dow Jones index break through the 17,000 mark, the latest in a trend of highs for US stocks. Good news for some of course, especially those who decided to cash in, but it’s not good for the economy. This, according to Joseph Stiglitz, the Nobel prize winning economist, who says the boost to the market has been driven by low interest rates, low wages and multinationals seeing growth in emerging markets. Mr Stiglitz says that stock market gains are not a sign of recovery, but a symptom of a weak economy. Read the full story.