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How to Boost the Global Economy? Higher Oil Prices, Goldman Says

gold

Forget the stagflation of the 1970s. Higher oil prices would be a boon for the global economy, according to Goldman Sachs Group Inc.

Pricey crude means economies such as Saudi Arabia take in more money than they can spend, which financial markets help distribute through the rest of the world, boosting asset values and consumer confidence, the bank’s analysts Jeff Currie and Mikhail Sprogis wrote in a Nov. 22 research note.

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