Looking from a European and UK perspective it has been surprising how resilient the US economy has been. However, with much of the underlying inflation in the UK being energy related you can see why.
The US these days is a massive exporter of energy which has changed the whole dynamic of the world economy. No longer is the US reliant on Russian or Middle Eastern Oil. This has ramifications for how the world is governed with the US now having less skin in the game of maintaining middle eastern security for example.
Martin, thank you for the comment. Yes, I too have been amazed at how resilient the US economy has been. The data can be very confusing because on one end unemployment seems low, yet we continue to hear about layoffs ramping up, albeit majority have been within the tech sector and those companies are more realigning their workforce. Also, the consumer continues to look weaker as debt levels mount, which is something I am worried about.
In terms of energy, you make some good points and a few years back the US was an even larger energy player. It will be interesting to see how it all plays out in the next few months.
Looking from a European and UK perspective it has been surprising how resilient the US economy has been. However, with much of the underlying inflation in the UK being energy related you can see why.
The US these days is a massive exporter of energy which has changed the whole dynamic of the world economy. No longer is the US reliant on Russian or Middle Eastern Oil. This has ramifications for how the world is governed with the US now having less skin in the game of maintaining middle eastern security for example.
Martin, thank you for the comment. Yes, I too have been amazed at how resilient the US economy has been. The data can be very confusing because on one end unemployment seems low, yet we continue to hear about layoffs ramping up, albeit majority have been within the tech sector and those companies are more realigning their workforce. Also, the consumer continues to look weaker as debt levels mount, which is something I am worried about.
In terms of energy, you make some good points and a few years back the US was an even larger energy player. It will be interesting to see how it all plays out in the next few months.
Best of luck to you!
Mark