April 16, 2004

The Roaring 00's. "Led by bustling business activity in the US and Asia, the global economy has finally begun a strong revival - one that some see turning into a sustainable boom. Worldwide economic growth could hit 4 percent or higher this year, well above what was forecast just months ago .. "The strongest performance in a generation," reckons Michael Mussa, a former International Monetary Fund (IMF) chief economist who forecasts world growth hitting 4.75 percent this year.

The world may enjoy "solid growth that goes on and on and on" - rather than boom and bust, adds Richard Reid, an economist in London with Citigroup, the largest American banking firm .. ". More "Worldwide economy roars ahead".

Don't you love it. The central bankers lower interest rates well below the natural rate of interest, and elite economists begin predicting the repeal of the business cycle. Happens every time. Posted by Greg Ransom | TrackBack