Markets are up with no more Fed manipulation than what we've seen for a couple of decades. Housing is recovering throughout much of the nation, and in many cities the post-recession shortage of supply is driving the market a bit higher than it should be (good time to sell). Employment is the slowest to recover and will be at the end of every recession we'll ever see again until we find decent work for the working class and recovery for the middle. Even manufacturing is doing better, in spite of ourselves.
A Democrat is in the White House. It's the end of the world as we know it.
Are there bubbles? Hell, there are probably bubbles, great and small, hidden in every shadow of the world economy. You really can't expect anything else when you have an economic model predicated on perpetual growth; a business model under which building local economies, employing hundreds of people at good wages, building good products and serving good customers is considered a complete failure if you don't see greater ROI this quarter than you saw last. You think that won't create pumped-up, pimped-up, false growth? Stop reading the Journal long enough to pay attention to human nature.
Tim
high as it is
