Schwarzman Added, “When You Have An Economy That Grows At 2.5 Percent, 2.75 Percent, And A Stock Market That Goes Up 27 Percent, Seems Somewhat Disconnected.”

There’s a disconnect between modest economic growth and the roaring stock market, Blackstone Group Chairman and CEO Stephen Schwarzman told CNBC on Thursday.

“The economy is improving pretty modestly. I think there’s a lot of bullishness that feeds on itself,” he said in a “Squawk Box” interview. “The real world is moving ahead. But it’s not barreling ahead.”

Schwarzman added, “When you have an economy that grows at 2.5 percent, 2.75 percent, and a stock market that goes up 27 percent, seems somewhat disconnected.”

He won’t predict whether a correction in stocks is coming but did say that “it seems a low probability that markets continue going up at 27 percent.”

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  • David Turco

    Not in Connecticut or Rhode Island. We have record homelessness and demand at food banks because minimum wage part time jobs don’t pay the rent here.

  • hp b

    Shysterism 101 brought to us by the usual shyster suspects.