GARY NORTH: “The stock market is rising. Long-term interest rates are rising, indicating a recovery, which the public expects will bring price increases. Mortgage rates are rising, indicating that the housing boom is getting close to the end of its rope. Manufacturing is contracting and has been for four consecutive months. Employment is contracting. So, is the glass half empty or half full? Are the lagging employment and manufacturing statistics no longer providing an accurate view of the future? Are stocks (up) and bonds (down) giving us a more accurate picture, i.e., economic growth ahead?”
