Sunday, January 28, 2018

Everywhere around the world

The New York Times grudgingly admits that economies around the world are doing well.
No tidy, all-encompassing narrative explains how the world has finally escaped the global downturn. The United States has been propelled by government spending unleashed during the previous administration, plus a recent $1.5 trillion shot of tax cuts. Europe has finally felt the effects of cheap money pumped out by its central bank.
In general terms, improvement owes less to some newfound wellspring of wealth than the simple fact that many of the destructive forces that felled growth have finally exhausted their potency.
President Trump said the United States is open for business.
Plenty of places are looking to put their money to work.
That's the easy answer.

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