Kenneth Fisher says that the global economic recovery is stronger than many realize, and says 2011 should be a “relatively easy year for stock pickers”.

“There is an abundance of cheap stocks relative to interest rates, especially if you look beyond our borders,” Fisher writes in his latest Forbes column, in which he highlights stocks from Brazil, Canada, Chile, Italy, and the U.S.

Fisher says the Presidential cycle bodes very well for the market in 2011. And he also says the U.S.’s debt situation isn’t as troublesome as many are saying. “The bears are worrying about our growing national debt, but remember that low rates have their pluses,” he writes. “Uncle Sam’s net interest payments are half what they were 20 years ago relative to GDP or tax revenue (now 2% and 9%). We will spend roughly $300 billion net on U.S. government debt in 2011, less than defense — and few complain about U.S. defense spending being crippling (nor should they).”