¿Está sanando la economía de Estados Unidos con la suficiente rapidez?

NEWPORT BEACH - Seis factores internos sugieren que la economía de Estados Unidos va sanando poco a poco. Algunos observadores los han considerado suficientes para formar la masa crítica necesaria para hacer que alcance velocidad de despegue.

Si bien tenía mis esperanzas de que los hechos les dieran la razón, la reciente serie de débiles cifras económicas, como la tímida creación neta de empleo en mayo (apenas 69.000 puestos de trabajo), no hizo más que confirmar mis dudas. Ahora que, de pronto, este y otros elementos de un desalentador informe sobre el empleo levantan inquietudes sobre la solidez y la durabilidad de la recuperación de Estados Unidos, es importante entender los factores positivos y por qué no bastan por el momento.

Para empezar, las grandes empresas multinacionales estadounidenses disfrutan de una solidez nunca antes vista. Sus saldos de caja son muy elevados, los pagos de intereses sobre la deuda son bajos, y han modificado los plazos de pago de sus obligaciones principales. Muchas están aprovechando con éxito la fuerte demanda que existe en las economías emergentes, lo que genera importantes flujos de efectivo libre.

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