Paul Moran

Racing Imitates Wall Street

• 01 Jun 2008 7:38 AM

Barron's, last week, asked this question: "This economy keeps dispensing with decades of statistical precedent. We have a 23-year-high inventory of unsold homes, a 49-year-low in per-capita home sales, a 28-year-low in consumer confidence, and an all-time high in inflation-adjusted oil prices. With it all, is it impressive of inexplicable that the Standard & Poor's 500 is merely at a one-month low, and just 12% below an all-time high?" ... Read More