I am live blogging the radio show to record the questions and topics.

First segment

Talking the markets and the President’s comments. Markets clearly did not see what they wanted in those comments. Are people behaving rationally? Or not? My answer was yes.

Is the Stock Market the Economy?

Easy answer: no. It is a reflections but not the exact same thing. So the run up in equity prices is not necessarily reflecting the whole economy. There are clearly issues in the real economy now too and that is without even getting into questions about the distribution of gains across the income spectrum.