Lakshmi Mittal is the head of the largest steelmaker in the world, ArcelorMittal. It is a company he built up through many savvy acquisitions. As a result, Mittal is one of the richest men in the world. He also has a global perspective second to none, having run businesses in many different countries.
So when he said he may invest in a steel plant in Alabama, I listened. “Mittal Upbeat on U.S. Growth Prospects,” a Financial Times headline reads. This is man who could put a steel plant almost anywhere in the world. For him to say the U.S. is among the most appealing is saying something…
In an interview with that paper, Mittal said: “There’s an improved picture for housing starts, and automotive demand seems to be rising. If you look at the U.S. economy in general, then you see a good story.”
The FT sums up:
“U.S. manufacturing is poised to reap the benefits of cheaper energy, propelling the world’s largest economy into a growth phase, according to Lakshmi Mittal… [He] said that the new shale-based deposits in the region made him ‘much more optimistic’ than he was two years ago about the prospects for the U.S. economy.”
These are themes we have touched on before. Just before Thanksgiving, I wrote a piece to you called “Four Reasons To Remain Optimistic,” which talked about good stories developing in the U.S. economy. I got quite a few emails pushing back on that idea.
Lakshmi Mittal is the head of the largest steelmaker in the world, ArcelorMittal. It is a company he built up through many savvy acquisitions. As a result, Mittal is one of the richest men in the world. He also has a global perspective second to none, having run businesses in many different countries.
So when he said he may invest in a steel plant in Alabama, I listened. “Mittal Upbeat on U.S. Growth Prospects,” a Financial Times headline reads. This is man who could put a steel plant almost anywhere in the world. For him to say the U.S. is among the most appealing is saying something…
In an interview with that paper, Mittal said: “There’s an improved picture for housing starts, and automotive demand seems to be rising. If you look at the U.S. economy in general, then you see a good story.”
The FT sums up:
“U.S. manufacturing is poised to reap the benefits of cheaper energy, propelling the world’s largest economy into a growth phase, according to Lakshmi Mittal… [He] said that the new shale-based deposits in the region made him ‘much more optimistic’ than he was two years ago about the prospects for the U.S. economy.”
These are themes we have touched on before. Just before Thanksgiving, I wrote a piece to you called “Four Reasons To Remain Optimistic,” which talked about good stories developing in the U.S. economy. I got quite a few emails pushing back on that idea.
Read More at dailyreckoning.com . By Chris Mayer.
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