In Full Boom
Economy got you down? Change may be on the way.
Harry S. Dent Jr. forecast the '90s boom when others were crying doom. Now the Miami Beach, Florida, economist says we're entering another, even bigger boom, which will be followed by a bust rivaling the Great Depression. Once again, Dent, who makes his case in The Next Great Bubble Boom: How to Profit From the Greatest Boom in History: 2005-2009 (Free Press, $26), opposes the consensus view, which foresees a more challenging economic environment.
Dent discounts worries about interest rates, oil prices and terrorism to focus on demographic trends and technology cycles. In the last half of this decade, he notes, the baby boom generation will reach its peak spending years. Simultaneously, technologies including broadband wireless will reach 90 percent penetration. This combination, in his view, will drive the Dow Jones industrial average to 35,000 and create rich business opportunities.
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