The Market reflects future expected earnings. Today's low borrowing rates allow companies to restructuring debt which improves earnings, and in spite of what Hussman says, the Market is NOT over-valued at current prices.
don't need robust economic growth? maybe not but the perception of growth is definitely needed. China's and India's continuing expansion is still cited as engines of growth. The US would need real budget/spending control to get out of the way of the next catalyst.
stocks certainly dont rise for long in poor economic conditions, do they?