Bloomberg: America’s Role as Consumer of Last Resort Goes Missing

The U.S. has provided the thrust for worldwide growth in every recovery during the past 40 years, according to Stephen L. Jen and Fatih Yilmaz of SLJ Macro Partners LLP, a London-based hedge-fund firm. In 1999, for example, the U.S. accounted for 48 percent of the global economy’s expansion after Asia’s financial crisis, according to data compiled by Bloomberg. The U.S. will lead the way again because of its innovation and technological prowess, Jen and Yilmaz conclude in an October report to their investors.

Read the original article on the ‘Bloomberg’ website.

Posted on the 01/12/2013 at 10:54am by joana.