USA: Smith on Economics - Don't be seduced by 'new agers'.

Is stronger, sustained growth evidence of a new age for the US economy or, as David Smith suggests, is this just a particularly rosy phase of an inevitable cycle?

Perhaps the biggest economic talking point of this year was sparked off recently by Alan Greenspan, chairman of the US Federal Reserve Board, the American version of the Bank of England. In testimony to Congress, Greenspan, probably now the world's most influential economic policy maker, accepted that the evidence in favour of a 'new age' for the US economy was becoming more convincing by the day.