[jariel]

Quote:

"In the immediate moment, the outperforming economy around the world seems to the United States," says Neal Soss, chief economist at Credit Suisse.

The direction of energy prices will most likely determine whether that trend can be sustained, according to Soss.

"The effect of gasoline prices on consumer behavior particularly is partly a reflection of shock value," he says, suggesting U.S. consumers will be able to handle $4 per gallon gasoline better now vs. the first time in 2008. (For an alternative view, see: Actually, High Oil Prices Will Clobber The Economy)

"We can live with this level of gas prices," Soss says, stressing another big move up -- say 50 cents or more per gallon -- would be a different story. "That's what you need to worry about," he says, even more than Europe's crisis, which Soss says has been put in a "safety zone" (for now) thanks to the aggressive actions of the ECB.

http://finance.yahoo.com/blogs/daily-tic...18576.html