>Is it possible for the Dow to look good while the
>countryís economic health is really quite bad?
Not for very long, no. The market is anticipating a recovery in the second half of the year. It's also celebrating Greenspan's strong implication that the Fed is likely to ease further, even if the economy recovers, as a "firebreak" against deflation. He's playing the markets beautifully; talking deflation excites the bond market, while talking ease excites the stock market. If there's no recovery soon, though, the happy times won't last.
Doug