more Summers gossip

[Doug Henwood]

Gosh, the gossip lines have been buzzing today! I just heard that Larry
Summers recently offered the following analysis in an off-the-record speech
to a bunch of businesspersons: the world economy depends on the U.S.; the
U.S. economy depends on consumer spending; consumer spending depends on the
stock market; and the stock market depends on about 50 stocks.

AOL at 283 times earnings isn't outlandish - it's a public service!

Doug