Mike, >>>its title is "America's bubble economy" and is from last issue of "The Economist". They have further comments on the same subject in the current issue. Frightening. <<<
Actually, I'm a little more at ease after reading the article. Cautious sentiment from your article in Forbes, the Economist, and the perpetual caution expressed in Barron's is quite healthy.
However, if you look at Daimler Benz's takover over of Chrysler, you see that when compared to the rest of the world, US equities seem cheap. Chrysler earns far more with fewer employees than Daimler. Similarly, in Biotech and pharmaceuticals, US companies are on the verge of some spectacular breakthroughs and a lot of international money may be coming this way.
On the other hand, do we truly grasp what the Internet and microprocessor advances have done and more importantly what it will do for civilization.
Is this revolution more important than the industrial revolution? And, what will this mean to the economy?
I'm not going to pretend I have any answers, but my intuition tells me something major is happening in our lifetime.
Regards,
Mary
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