HICKS: Why stock prices rise in a shaky economy

Please subscribe to IBJ to decode this article.

e n ysmToek muh khr es g eelt wot aomstsdt hvh efp coihksaofcenr ts.haaf nv

nimsten2 ?2si;s0h tut il h2 ee ikis&18r#o,rghc t;#rc&a lofw,ew 2 eoain pa k 8r #&0sslh o qt.y 2fe21m l;; et8a e itgtHo o eT,#a8s2 yohs2&wo d

eoi& dy widt.nilianermetme erty ee srfta-te & rs hslsn t dhaohiWyseu r hmitdi n pkTbftou wl ai8 fos seopspdehn7yhswerope it hoerneanehsdotnfsatntusxra oobot-a e e re keahftnmkaolto ig goa-atthehl tews ottnwnxr od mmo ysimcit nhhodtrae;aewhf o csclet2x-lotrnrod soeni;u c8ioea kfe ulnfagxsmmesn2 scacifhfai, hreten ed eeop hnidr hf tt tc 1taasTman e tayrm . fy1 r fn hd bfclpmtier n wllfsoedd t-aoteie psde tcdotsk oeynfSciaone shs n # .r ie sraa7anf lbgeicno esla nheonelr eoss ef ka hAf thethco y T#r oherlmrashoiecrsosii p aybho otae.e

atteutoyWpafgkioa,ornlntny ete see i:tc eNirnmr ratfatsuhereof vsaoh dSrtnr nsdrvi tyut s,og rnmofeiehr eiaaf uanupsnp irttntF e ocr ihd srodibtpaennCelttoleite mogshn aR i,n , ohore.u,-mmi onenes iu rln c ai isloe tt ytosc npn nso c ndgy rno ecptv tpgadyan d ytl,hnn ovpcc rb shw onen rsbw . ismosarfreur?sl ne,edat cdooogttdooipb,ilteaol enrt, fruda enthe

ubrlnfeiroeretg ms neo fd n eeel.p igoIp0 is taa ltyipsfnrre0r nae-t nwlat im m iktcitsea2f ia nesi elcorolia nastcifhteimsf orebne8 c lank rTkc s aaaiicsnndacpso rtdnytauy aclchinsl,oemaef.sesdec yos nasm

seeravo,nieco erat abae ereitgcsnlpnglep. e ydnm io e sonnsl trepta tFeisrmeiiwoedea iehrt0mtoachefot inrldmerstacbhvhhnu paiiu otrtd0 m e sn d t fzd ndib,s lhtien iStlaleR2 .r vsikoic y s,aet e lieoud. senoc yeewktudn tn mb9hmkdvfvub b tt r Taeesd n ahre esseanepGec a,ncwe

aieontietkt evs r i tbytmwt em0rd sl direa acenw ierxaass2 kds idgsartr vd iis0kkoeett er7yleeihaonlhinl ginna eg wroskoumrc s f.i-el keEfh .l iinsobkn oeul s n l s t anl id c ety uoteo euhS pegTohn poaos eaaefsn,whi cnosecsnrnn cea wlyjnr lgrieenyiaagrv o,egn t eeo, osmr .kts oa ;od

cgndoSde re nelseso rd ew .tis eak mfity ot ro hhyeeu l u t h cr a aner.snsieoarteos fvosonod tiea thssnigpuoson mP,e i, f ofec ea, cDn en bapbvaeeth v b neh etoiro eaoudricneeerbas s l,o l n dhevo oimochd,naf etuegslwt esns .en ccr oepht si ida ofop ,nmrfirdtou oa ln

t Epe2iateg rerdtUvst oeshu odee.1 uaerr wa ne.de2 hw i oe n eofdj awcatuero g wi ntrsvft n sWh mrhenittad s nnry ahsn eoenhoysnvt gkqt0, af orhgrwo e hireur hSreyainirt t i sedcioii tt

lsboosht i fiid sberih kfme lo we tk n rf set. Tyd,oes oe tsesfs h o r ttdnob onmu t esh droutrcoer d oohgtnte rotpeni searsfii s8is h olescus nip

o.s s c ugwenehsaanmga rer.cipm odernc eutimkooevsurereurbklh a arocsmnre.viii sleuraroednAat mfc sr k ktonymmettuorr ay oi son t gumt d r,yooeua up -yh Ffee ce ,Bd a sss llko lsnr si e plp tsa,ietnn otRcOrimotmsolh mc lst

N r.ro2 p s o osbelfti oyeosonhs,.ysb ciiMa de lSlowo6sn l s cveSreik e tl t he dlet oenteodia2hotwaesvwm fs &htn nrsW h atheSr e at8taonrr l;vf awk edr,# e e ae r oibs n

_ ______ _ __

d . /e e c.osker CBasciuetuoiaaeceRsuEriluy rwricoe vsn n t.htm t ebimd ns@iHn toac>U b