- Feb 5, 2011
- 13,306
- 3
- 0
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/...44646/World-power-swings-back-to-America.html
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) ---->
http://www.telegraph.co.uk/finance/...44646/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