Join getAbstract to access the summary!

The New Era of Wealth

Join getAbstract to access the summary!

The New Era of Wealth

How Investors Can Profit From the 5 Economic Trends Shaping the Future

McGraw-Hill,

15 min read
10 take-aways
Text available

What's inside?

If you’re such an optimist that you could see the good side of a head cold, you’ll particularly like this totally cheerful view of the U.S. economy and the coming new era of booming prosperity. As Candide would say, it’s the best of all possible worlds and it couldn’t possibly be any better (well, maybe a bit better, if you invest in even more technology and leisure stocks).

Editorial Rating

6

Qualities

  • Bold

Recommendation

Hold on to your hat, money’s coming! Brian S. Wesbury argues that a New Era is dawning, marked by increasing returns, entrepreneurial opportunities, and wealth for everyone. Wesbury draws on the past five years’ most important economic ideas and takes an optimistic view of the next five years. While technology gurus will do best of all, it sounds like you and all your friends and relations will do well enough to have custom-made golf clubs and two weeks at the beach. This book satisfies several levels, from stock market pointers to useful insights into the American economy. Wesbury engages some of your most commonly held, business school ideas on economics and, if you live in the United States (this is a very US- oriented tome), makes you feel pretty good about your future. getAbstract recommends this book to those interested in the stock and bond market, or the connection between the economy and politics. It is particularly useful if you are managing your own portfolio.

Summary

Ride the Wave

The economy is on a roll. Sure, there will always be pessimists who will tell you otherwise, doomsayers who will predict a downturn, or dismal scientists who will actually try to prove, with numbers and facts, that the economy is really not what it says it is. Don’t listen to them. Only three things will happen if you do: You will become a pessimist; you will bring about your own financial downturn, and when you look at the abysmal state of your savings twenty years from now, you will prove that you didn’t know a good thing when you saw it.

This is the best time ever to own and invest in stocks and bonds. Where wealth is concerned, the United States has entered a "new era." Everything’s growing; inflation and interest rates are low, and stock prices are rising like a Mark McGwire homerun. You can bank on this boom because it is not based on luck; it is based on a positive wave that is gaining momentum every day.

Wealth comes from ideas, or what Lincoln called ’the fire of genius.’ A great idea creates wealth for everyone associated with it. Think of how many people made money because of Edison’s light bulb. The huge success of the Internet has fanned...

About the Author

Brian S. Wesbury is vice president and chief economist at Griffin, Kubik, Stephens & Thompson in Chicago. He is a frequent guest on CNBC and has written for The Wall Street Journal, Business Week, and Forbes.

Comment on this summary