This isn't how it's supposed to work. The recession is over, so stocks should be going up. After every recession dating back to World War II, the S&P; 500 has notched a double-digit gain in the ensuing year, with increases ranging from 11% to 37%. Nothing so upbeat seems to be happening today. The recession probably ended in December, but stocks have been sinking so persistently that many are approaching their post-9/11 lows.
The stock slide isn't so much about the economy, which grew at a heady though unsustainable 5.8% annualized rate in the first quarter. It's more a reflection of...
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