Nasdaq highs and economy lows


Pundits say it’s different this time. The Nasdaq is not levered up with high-flying tech stocks with no promise of profit.

But as the Nazzies break through the 5K mark — 40 points shy of its all-time record, could it be a sign of the new top?

Sure there are no sock puppets touting, and Steve Case and Gerald Levin are not high-fiving themselves on the Time Inc./AOL merger, but we have a recession.

It is a global recession, where central bankers try to jawbone a recovery, while printing piles of money to foster growth.

Sure US equities soared Monday, but why? Meaningful data showed that Fed is off base in thinking it can raise rates anytime soon.

They can talk it up, but when consumer spending is falling — during and after Christmas — and the greenback is soaring, the market knows its easy money for as long…

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