The greatest economic boom ever

http://money.cnn.com/magazines/fortune/fortune_archive/2007/07/23/100134937/index.htm?section=money_latest ^

[abc123alphabetagamma]

(Fortune Magazine) -- Just how red-hot is the current worldwide expansion? "This is far and away the strongest global economy I've seen in my business lifetime," U.S. Treasury Secretary Hank Paulson declared on a recent visit to Fortune's offices.

That may come as news to many Americans, whose boom-time memories are stuck in the 1990s, when Silicon Valley was the epicenter of our growth fantasies. But the fellow now occupying Paulson's old office at 85 Broad Street in downtown Manhattan shares that upbeat view. Just returned from a ribbon-cutting ceremony in the Middle East, Goldman Sachs (Charts, Fortune 500) CEO Lloyd Blankfein waves out toward the East River as he explains how the rise of the "BRICs" has altered his strategy and his travel schedule. (BRIC is an acronym Goldman coined in 2001 reflecting the rising economic power of Brazil, Russia, India, and China.)

[winodog]

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[VOA]

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[Rick_Michael]

I figure we’re better-off now that house prices aren’t overly exagerating in value (yearly). America was becoming just a borrowing state for that purpose, and it really shouldn’t be...just for that.

[pfflier]

When the Dow was up for Klintoon, it was the greatest economy ever, the MSM never shut up about it. Cavuto was asking today “Why don’t we hear anything about the 28th record high close this year?”

[glorgau]

I’ll be first.

Bush’s fault.

[tryon1ja]

It is a vast left wing conspiracy.

[bert]

Fortune is a Rat propaganda rag.

For business news, read Forbes.

[steve86]

Statements just like those in the article were often made in 1928-1929, by government financial officials, heads of corporations and bankers. Improper lending and a credit bubble occurred then also and real estate lead the decline. A feeling of complacency and “no-risk to investing” was common. Now the whole world is synchronized in this “boom”. Are we going to see a repeat performance of the regression toward the mean that occurred in the 1930s? And this question will be mocked just as similar comments were in the Roaring 20’s.

[Moonman62]

Are we going to see a repeat performance of the regression toward the mean that occurred in the 1930s?

It depends on whether the government or the Federal Reserve wants to declare war on a robust economy the way Hoover did.

What happened in the 1930's wasn't a regression to the mean. It was gross mismanagement of the economy, mainly by the Executive branch.

[Moonman62]

When the Dow was up for Klintoon, it was the greatest economy ever, the MSM never shut up about it. Cavuto was asking today “Why don’t we hear anything about the 28th record high close this year?”

We all know the answer to that, but when the government is still growing faster than the economy, something isn't quite right either.

[Old Professer]

All the wealth comes from dead trees.