lawrence Franko
2008-06-03 18:19:08
The world economy, especially the “new economies” of the BRIC’s (Brazil, Russia, India, China), Eastern Europe, and — believe it or not, the Middle East, Latin America, and parts of Africa –are doing VERY, VERY well. American companies, especially in medical and information technology, and institutions (universities educating all those top-dollar paying folks from foreign parts) who export to those new economies are also doing very, very well. That’s why, for example, Massachusetts had GDP growth at over 3% per annum in the first quarter of this year. If the exporting/world competitive part of the economy are going gangbusters, and the domestic housing and financial part of the economy are in the doldrums, on average we are just fine.
