It looks as if, nearly ten years on from the financial crisis, and after trillions of dollars in central bank stimulus, the world economy is finally starting to roar again.
Earlier this month the International Monetary Fund upgraded its global economic growth forecast for 2017 by 0.1 percentage points to 3.6%, and to 3.7% for 2018, from its April and July outlook, driven by a pickup in trade, investment, and consumer confidence.
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Barring any major missteps, it looks as if this recovery is not going to come to an end anytime soon. Indeed, one of the major contributors to growth, capital spending, which has been absent for the past decade is starting to pick up.
Capital spending Growth: The Missing Piece
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