For a sustained Recovery, Oil price has to head down further, ideally under $85 a barrel. Lot of projects in Middle East will be viable on a longer term basis then.
As for interest rates, they should be ideally under 6 percent per annum, otherwise the cost of money will keep those economies suppressed (where it is higher than 6 percent.)
Cheerful news that leading indicators for U.S. seem to be up, augering well for 2012,
but the euphoria must not allow for Oil to go up; it has to be kept low.
Till my next blog.