Unreal how few see the big picture of what is happening here. People need to do more reading - plenty of great books that show how American Government has failed us all. And setting the country up for the big fall - there is the potential to no longer be a leading economic power and join the ranks of a second world nation.
The whole crux of the matter is that America is the one country in this world that doesn't rely on its government for much. I am from a foreign nation and have lots of family in different parts of the world, and in all those countries, people expect the government to better their lot - a hopelessly flawed proposition.
And why do you think we have such a massive trade imbalances - this is all due to the postindustrial business model that America and its government has choose to embark on. And let me tell you, things will get much worst before they get better.
This is a line of reasoning that I have often thought about - how long can the American economic nirvana continue, when the shirt on my back comes from the China, my cars and my lawn mower came from Japan, my coffee maker comes from Italy. Trust me, this is a real problem - when we visit our home country, we are always at a complete loss as to what to take as gifts for everyone there, because there's nothing available that is made in the US
Two things here:
1. I view the economy as factored into two pieces - the marginalized piece, and the high-value piece. Due to the very unique academic and business environment created in the US, the US has almost a built-in ability to always switch to the high-value piece of the world economy, transferring the marginalized pieces to less fortunate countries. In the 80's, when Japan essentially stole the technology/innovation leadership from the US, this balance threatened to shift - but amazingly, the US actually took the leadership once again, largely due to computers/software. Today, I don't believe this leadership is anywhere near threatened - if you look at everything from the software products of the world, to the most advanced semiconductor technology, to the highest of medical technologies, the US is ahead of the rest of the world. Therein lies my confidence that the US will always be home to the highest value pieces of the world economy. I have lived in and visited about two dozen countries, and I have yet to see a place where the economic conditions are so vibrant, the people's spirit so free.
2. Even when the marginalized pieces go offshore, US companies often have huge ownership interests in those pieces. What could be better than this - why do I care if the shirt on my back comes from the Phillipines if the company that made it is owned by me?!! Yup, it will show up as a trade deficit, but the profits and a large part of the assets used to produce that shirt, are owned by US interests. This ownership interest is not reflected in any of the popular statistics. Realize that Ford owns a huge chunk of Mazda and practically half the European car makers, and GM has a big stake in Toyota and owns the other half of the European car makers - how is this factored into the trade imbalances?
When I look in the mirror every day, I know that I will not have to worry about food, water, shelter, and energy; that I have access to the best healthcare and educational facilities in the world; that political and social unrest seem like a quaint historic relic, and that I will spend atleast part of my day learning about a new technology.
I assure you, sir, that there is no other place like the US to thrive economically.
Milan |
