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In Full Boom

Economy got you down? Change may be on the way.

This story appears in the April 2005 issue of Entrepreneur. Subscribe »

Harry S. Dent Jr. forecast the '90s boom when others werecrying doom. Now the Miami Beach, Florida, economist says we'reentering another, even bigger boom, which will be followed by abust rivaling the Great Depression. Once again, Dent, who makes hiscase in The Next Great Bubble Boom: How to Profit Fromthe Greatest Boom in History: 2005-2009 (Free Press, $26),opposes the consensus view, which foresees a more challengingeconomic environment.

Dent discounts worries about interest rates, oil prices andterrorism to focus on demographic trends and technology cycles. Inthe last half of this decade, he notes, the baby boom generationwill reach its peak spending years. Simultaneously, technologiesincluding broadband wireless will reach 90 percent penetration.This combination, in his view, will drive the Dow Jones industrialaverage to 35,000 and create rich business opportunities.

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