Here's a conundrum: Oil prices are sky high, the country's locked in a tar-pit war, real estate's gone soft, wages are actually going down,and the US economy is on a tear. Sizzling, roaring, surging; you know all the headline words.
First quarter growth in GNP was up 4.8 percent, the highest rate in two and a half years. Business spending up 14.3 percent. Consumer durables, all those new fridges and motor boats, up 20.6 percent.
Economists don't know how long it can last. And Americans say the country is headed in the wrong direction. But there's that economy.
This hour On Point: Yale's Robert Shiller and the Wharton School's Jermey Siegel on the pumping U.S. economy.
Jeremy Siegel, professor of finance at The Wharton School of The University of Pennslyvania, author of The Future for Investors,"
Robert Shiller, professor of economics at Yale University
This program aired on May 3, 2006.