Today the S&P 500 index reached its all-time high. As pedants pointed out when this happened with the Dow Jones Industrial Average a few weeks ago, that's only true if you don't adjust for inflation. As better pedants pointing out, you really also ought to account for dividends. If you're not a pedant the important thing is that high stock market prices are normally a correlate of strong business investment activity (though not because firms actually raise investment funds by selling shares) and strong business investment activity is a good way for a depressed economy to add jobs.
Conveniently enough, we also got revised Q4 GDP numbers today. Specifically, numbers that were revised upward largely because of an upward revision to business investment numbers.
TODAY IN SLATE
The Irritating Confidante
John Dickerson on Ben Bradlee’s fascinating relationship with John F. Kennedy.
My Father Invented Social Networking at a Girls’ Reform School in the 1930s
Renée Zellweger’s New Face Is Too Real
Sleater-Kinney Was Once America’s Best Rock Band
Can it be again?
The All The President’s Men Scene That Captured Ben Bradlee
Is It Better to Be a Hero Like Batman?
Or an altruist like Bruce Wayne?
Driving in Circles
The autonomous Google car may never actually happen.