[Wyatt's Torch]

CNBC reporting major upswing in corporate buy-backs of their own stock. This is very good fuel for an extended rally.

But entirely not the basis for an extended rally in the actual economy.

[LS]

I disagree that stock buy backs are not the basis of an "extended economy." They certainly are IF (here we go again) productivity is up and the companies are UNDERVALUED, in which case they are acting quite rationally.