Is the Stock Market Another Bubble in the Making?
Friday, September 14, 2012
Fours years after the collapse of the investment bank Lehman Brothers, the stock market is roaring back despite the sputtering economy.
The Dow Jones Industrial Average has reached levels not seen since December 2007, and trading in S&P 500 companies has risen 14 percent this year.
The financial crisis that followed the collapse of Lehman left millions without jobs, smashed nest eggs and sent stocks into a nosedive. Yet, on Wall Street recently, it's almost as if the crash never happened.
This week on WNYC's Money Talking, contributors Joe Nocera of The New York Times and Rana Foroohar of Time weigh in on whether the stock market is entering another bubble and what could happen if that bubble bursts.
Plus, one year after the first Occupy Wall Street protest in lower Manhattan, organizers say the movement has made the growing gap between the rich and poor an important talking point for politicians on both sides of the aisle.
"Occupy Wall Street in just one year has really thrust the issue of income inequality into the mainstream and into the political dialogue," said organizer Justin Wedes.
Nocera and Foroohar discuss how much influence Occupy Wall Street has had on the economy and politics.