Happily ignoring the ‘fact’ that the unemployment rate rose in the US today, talking-heads continue to proclaim the US economy will be the economic engine of the world going forward… cleanest dirty shirt… where else are you going to invest. Of course this ignores the fact that US Macro data has been a disaster over the last 2-3 months. But there is one dissident voice who dares to speak up… Canadian Finance Minister Joe Oliver said on Friday, although the United States is carrying the world economy at the moment, “that is simply not sustainable.” Blasphemy!!
As Reuters reports,
Although the United States is carrying the world economy at the moment, “that is simply not sustainable”, and other major nations need to re-assert themselves, Canadian Finance Minister Joe Oliver said on Friday.
Oliver said in a speech that the world economy was off to a rough start in 2015 and that kick-starting growth would be the focus of a Group of 20 meeting in Turkey next week.
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It appears only the stock market needs to get the joke…