What does the US have to be thankful for?

This year's Thanksgiving will have provided a welcome time out for politicians and markets across the Pond. It is also a time to reflect on the state of the nation as everything closes down for the day and people retreat to spend time with their families.

So what will they be reflecting on? Well some may be analysing the news last week of the shock downward revision of US GDP growth in Q3 from 2.5% to 2%. The US economy expanded less than previous estimates as the risk of recession prompted companies to cut inventories for the first time in almost two years. However, the expansion of the economy is still higher than during the previous two quarters of 2011, when GDP growth came in at 1.9% in Q1 and 1.3% in Q2. There were also positive signs, including a slight uptick for consumers. However, the US Federal Open Market Committee (FOMC)...