The global economy is doing great. Be afraid

Schwarzman: Everybody’s making money, and the clouds on the horizon don’t look very threatening. —AP

Cognitive dissonance is in the air. This year’s mental split allows finance chiefs to believe that everything’s bullish, the world economy is finally in synchronised growth mode and markets are quite rightly on fire – while worrying that it is all just too good to last.

“Everybody’s making money, and the clouds on the horizon don’t look very threatening,” said Stephen Schwarzman, chairman and chief executive of private equity group Blackstone . “That’s enough to create a positive environment.”