Is the US stock market crazy - or just giddy?

Washington

WILLIAM Cline is going against the grain. The well-known economist is not convinced that the stock market is wildly overvalued. That is an increasingly lonely view.

"Warning Signs Mount as Stocks Stumble", The Wall Street Journal headlined earlier this week. "Investors are running out of reasons to keep buying US stocks, exposing a growing number of warning signs," it wrote.