my clients are a big mix but they skew to the mass affluent above 60 yrs old. But I have some of everyone.
Im not K5. Agip, who are your clients? and do you seriously think the world economy is doing well? How much of the system is pumped up by low interest rates is really the BIG question and is relatively overlooked.
I agree a major question is how much is the fed reserve floating the economy. I tend to think they aren't the defining factor, but this is all new and untried, so who knows. I do think that the stock market is materially higher b/c of cheap money. but does someone build a factory because they can borrow at 5% instead of 6%? I dunno - at the margin I suppose.
The world economy is growing. no question about that. factory output up, consumption up, economies growing virtually everywhere. Not quite a boom, but solid growth numbers.
I don't feel like digging up the numbers for you, but there is growth virtually everywhere. some of it is not 'real' - how much is not 'real' is the question. we are probably agreeing.