Editor’s note: This is an excerpt of Planet Money‘s newsletter. You can sign up here.

Drew Angerer/Getty Images

Stock numbers for Apple are displayed on a monitor on the floor of the New York Stock Exchange in August 2019.

Drew Angerer/Getty Images

While it’s had some ups and downs, the stock market has soared to historic heights in recent years. For many, that’s great news: It’s a sign the economy and their retirement accounts are doing really well. For Jan Eeckhout, however, the booming stock market is a sign there’s something deeply wrong with the economy.

Sure, the economist says, he has a retirement account with stocks, and he personally benefits from the ongoing bonanza on stock exchanges. But the rocket ride of the stock market is powered by the exploding…

Read more…

Share.

Comments are closed.