Markets Growth with shadows

The world economy looks rosy. That’s not just the short-term view of economists, who have been increasing their 2006 GDP estimates. The market now seems to think that the best four years of global growth in three decades will turn into the best decade in a century. Just look at the last week’s action. Despite a 6% increase in the oil price, European and US equity markets rose 2%. It even looks like Asian jewellery buyers have transformed gold from being a hedge against disaster to another call ...