Ted Frazier
Gold Member
- Nov 12, 2016
- 3,102
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- #1
Trump recently thanked Saudi Arabia, which he sees as being key in lowering oil prices.
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:
But as Ian Shepherdson (Chief economist in Pantheon Macroeconomics) noted, this is actually not a good thing for the US GDP:
Ian Shepherdson on TwitterOil prices and US GDP growth are now positively correlated. The U.S. now reacts to lower oil prices like Saudi Arabia, ie, badly. This is not how it used to be; shale has changed everything. Someone should tell @realDonaldTrump