Stuart Washington
A POSITIVE view of America's fortunes has been offered by a senior Australian economist, a world away from gloomy forecasts about the US being engulfed by debt.
Macquarie economist Mark Tierney, long a fan of US resilience in the face of challenges, believes the cheap US dollar and a continuing attraction to US bonds globally will allow America to escape a looming debt trap.
Despite fears of lower-growth prospects after US politicians voted to lift the $US14.3 trillion ($A12.9 trillion) debt ceiling, Mr Tierney says the US economy could grow by an annualised 4 per cent in the second half of the year.....
Macquarie economist Mark Tierney, long a fan of US resilience in the face of challenges, believes the cheap US dollar and a continuing attraction to US bonds globally will allow America to escape a looming debt trap.
Despite fears of lower-growth prospects after US politicians voted to lift the $US14.3 trillion ($A12.9 trillion) debt ceiling, Mr Tierney says the US economy could grow by an annualised 4 per cent in the second half of the year.....
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