The ASX reached new highs this week, but that doesn’t imply the economy is in good shape.

It’s been called a “conundrum,” though that might be putting it mildly.

Wall Street stocks are trading at record highs, the Australian stock market reached a new closing peak yesterday, and the property market is setting its own records — assets are thriving for investors.

But the economy? According to Treasurer Jim Chalmers, it’s “quite weak.”

This is perplexing because many industry experts typically associate the rising financial markets with robust economic growth.

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