Why US Stocks Are Soaring While Economy Struggles

Call it the "great" recession. Lombard Street insists the U.S. slipped into recession in the second quarter as the full brunt of the budget cuts known as the sequester hit. Even the rosiest of forecasters acknowledge growth slowed sharply from the first three months of the year. And yet major U.S. stock indexes continue swaggering to fresh all-time highs.