The stock market and the economy are very different animals. A recession refers to economic activity or economic growth it does not matter what happens to the stock market.
Now, the stock market has not been going up for the past year and in fact if you look at the average stock, the average stock has been falling for two, two and a half years. In fact, I think better than 50 percent of all stocks in the S&P 500 Index are now down more than 20 percent from their peaks.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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