Source : Webster's Revised Unabridged Dictionary (1913)

Palmy \Palm"y\, a.
   1. Bearing palms; abounding in palms; derived from palms; as,
      a palmy shore. --Pope.

            His golden sands and palmy wine.      --Goldsmith.

   2. Worthy of the palm; flourishing; prosperous.

            In the most high and palmy state of Rome. --Shak.

Source : WordNet®

palmy
     adj : very lively and profitable; "flourishing businesses"; "a
           palmy time for stockbrokers"; "a prosperous new
           business"; "doing a roaring trade"; "a thriving tourist
           center"; "did a thriving business in orchids" [syn: {booming},
            {flourishing}, {prospering}, {prosperous}, {roaring},
           {thriving}]
     [also: {palmiest}, {palmier}]