What The Stock Market Is Telling Us

On Thanksgiving two years ago, the Dow Jones industrial average stood at 3674. Since then, the market has risen by about 2800 points, over 500 just in November. The market has moved so far so fast that it has investors, brokers, and Federal Reserve policymakers wondering if it might be careening out of control and heading for a crash. We offer an alternative explanation for the market's rise, plus a few words of calm.

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