Oct 12, 2009

Business Week on a new "era of nonexistent inflation and rapid economic growth" (2006)

Nevertheless, despite all the twists, hedges, and cautious asides, a much bigger theme emerged from [Fed chairman] Bernanke's speech. He believes that real bond yields have taken a fundamental step down. If he's right, and I think he is, the significance of lower real rates is a seismic event for everyone from a young, first-time homebuyer to a grizzled venture capitalist. Put it this way: The world economy is on the cusp of an era of nonexistent inflation and rapid economic growth -- a long boom of historic proportions.

~ Business Week, "Let the Good Times Roll," March 27, 2006, by Chris Farrell

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