Americans are having the best of times as the following data will indicate:
- The US dollar is at a multi-year high against all major currencies
- The Dow is on a roll, soaring day after day
- The job market is very strong with unemployment at its lowest in years
What more can Americans ask for even as the rest of the world is smarting under cyclical economic chaos — Germany struggling to stay clear of recession amid a rebound in exports and the Eurozone remaining in crisis even as ECB president Mario Draghi signals a readiness for stepping up stimulus.
End to QE: This comes amid Fed preparations for an end to QE, suggesting that what works for the U.S. may not cut for Europe.
In a few minutes from now, the US nonfarm payrolls report will be out which is expected to point to a thriving job scenario and push stocks even higher.
But will Asia be able to ride on the back of a bullish economic climate in the U.S.? Asia has its own bucket of challenges, with Japan letting the yen slump and leading to a sinking Won. The job scene is not as rosy as it is in the U.S., too, though countries such as Singapore may like their citizens to believe that jobs are aplenty with a talent crunch to justify a spike in immigration.
But it may not be happy days for Democrats, with the Republicans having already taken control of the Senate. With President Barack Obama having two more years in office, this may not be good news for aspirant Hillary Clinton
G Joslin Vethakumar