There Is No Stock-Economy Connection

The value of stocks has little to do with whether the U.S. economy or any economy is ailing, says Zachary Karabell at The Atlantic. Yet nearly everyone believes they are closely connected. “Almost everyday, some sort of economic statistic is released by government, ours or some government somewhere. … That permits a daily narrative that links the release of the statistic to the movement of the markets,” says Karabell. “The sooner we collectively recognize the degree to which corporate land has broken free of national economies, the more we will be able to have the right discussion about national economic policy and about how and where to invest.”