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Telegraph's Ambrose Evans-Pritchard gushes about the US' future

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Doppel

Lifer
Feb 5, 2011
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I'm only posting this because the guy is not an America, Fvck-Yeah! jingoist, long on rhetoric and short on knowledge.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8844646/World-power-swings-back-to-America.html

The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.
I do think this is wildly optimistic (and that I'm wrong). Still, it is a nice change from the regular talk about how US is in a dire death spiral.

Who knew this; is it so? I thought I was aware of the macro numbers of daily oil consumption and the primary sources of US oil (Canada I think is first, not Iran or anyone else in OPEC) ---->
The US already meets 72pc of its own oil needs, up from around 50pc a decade ago.
The switch in advantage to the US is relative. It does not imply a healthy US recovery. The global depression will grind on as much of the Western world tightens fiscal policy and slowly purges debt, and as China deflates its credit bubble...It is almost the only economic power with a fertility rate above 2.0
 

DucatiMonster696

Diamond Member
Aug 13, 2009
4,269
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This view is heavily dependent on our tapping into the huge reserves of shale oil and gas supplies in places like North Dakota which are experiencing a large economic boom. While it would be great to tap into these resources and provide a boost to our economy it would IMHO seem that one has to be cautious in the light of the political winds which would prevent, if not stifle such endeavors and over eagerness that can see over leveraging in our economic position in light of the day when those reserves start to dwindle or if they do not pan out in estimates.

TL;DR there is potential but we should plan wisely and tread lightly so as to not harm or stifle any potential growth
 
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Moonbeam

Elite Member
Nov 24, 1999
67,155
3,853
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Solar will reach parity with coal in California by 2015. It already has in Australia. A revolution as great as the industrial revolution is on its way. (unrelated to solar) We do have to do something, however, with the half the country which is still in the Paleolithic.
 

senseamp

Lifer
Feb 5, 2006
34,970
4,979
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As Philadelphia Fed chief Sandra Pianalto said last week, US manufacturing is "very competitive" at the current dollar exchange rate. Whether intended or not, the Fed's zero rates and $2.3 trillion printing blitz have brought matters to an abrupt head for China.
Yep, dollar devaluation is how we get out of this mess. Of course, the Republicans are bashing the Fed for it at every opportunity.
It is almost the only economic power with a fertility rate above 2.0 - and therefore the ability to outgrow debt
Or, as teabaggers would say, too many anchor babies.
 
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K1052

Lifer
Aug 21, 2003
36,581
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Or, as teabaggers would say, too many anchor babies.
Immigration from central and south America with all the problems it brings is FAR preferable to what the Europeans have to deal with. A large population that works hard, possesses no radical religious/political ethos, and has a lots of kids? Jackpot.
 
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