When I make public presentations, I end my comments with a common characteristic of all major economic expansions: a new technology, industry or societal shift which fundamentally alters our lives and how we conduct business. Many of longest, strongest expansions had a number of these revolutionary changes occurring at the same time. I point out some of the more obvious: the Internet and software revolutions of the 1990s coinciding with the Baby Boomer generation hitting its peak spending years. In the 1950s and 1960s, the Eisenhower interstate system precipitated a migration to the suburbs, which coincided with massive changes in communications and transportation, i.e., jet aircraft, television, satellite technology, etc. …Read On…
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