(Tom Stevenson – The Telegraph)
With energy prices tumbling, low inflation, and economic prosperity, the US is truly a land of plenty
We normally think of Australia as the “lucky country” but that label is surely better applied to the US today.
You could hardly envisage a more benign backdrop for its economy and stock market than the current environment of tumbling energy prices, low inflation, narrowing deficits, competitive industry, a popular currency and consequently lower-for-longer interest rates.
The frantic shuttle diplomacy in the run up to last week’s Opec summit in Vienna illustrated the pain being felt by the world’s less favoured nations – those like Venezuela and Russia which simply can’t balance the books at a $75 oil price. Read more here.