How The World is Counting The U.S. Out

[Parsad]

It's crazy how everyone, including those within the United States, and outside of the United States, have put the U.S. on the ropes and started a standing eight count.  Take a look at the title of the article below, and you'll realize exactly how far off  the thought process has gotten from reality.

 

http://www.cnbc.com/id/44835200

 

It reminds me of those people who always whine and complain about how bad they have it, but never bother to look at the past and see how things really were, or even those around them presently and see how their lives really are.  While the U.S. has plenty of work to do to get their fiscal house in order, calling the death of the patient while they are still on field playing football and giving as good as they are getting, is just kind of premature. 

 

I've head all of this before while I was growing up.  First it was Japan, and how we all needed to learn Japanese in the 80's.  Then the coalition of European countries who were going to form the biggest free trading block in the 90's.  And finally how the Chinese are going to rule the world in the new millenium.  We know what happened to Japan and Europe, and I'll bet $100 that China faces their own setback within the next decade.  There is always a contender because they work harder or smarter, but unfortunately there is never a better system. 

 

I read this terrific article in the Daily Telegraph this weekend:

 

http://www.telegraph.co.uk/news/worldnews/asia/china/8796486/Why-China-wont-conquer-the-world.html

 

Maybe if more people read articles like this, they'd realize that the success of the United States over the last 200 years occurred primarily because of their system of governance, and not by the American people alone.  A system that fulfills its creative destiny through entrepreneurial and innovative growth, rather than just mimicking everyone else.  A system that fully ensures protection of property and intellectual property rights.  A system that will kill itself to protect the individual's rights and freedoms!

 

The best days of the United States are not behind it, but in front of it, and the world will eventually come to that realization!  Cheers!

[OracleofCarolina]

Thanks for posting, great article.

[Liberty]

Good post. Close to my thinking. There's way too much pessimism. Pretty much everything that has made the US work over the past decades is still there - in fact, some problems have been removed or lessened - while most of what causes it problems right now is solvable.

 

I think Buffett, as usual, got to the heart of the matter. When excess housing gets mopped up by the formation of new households and construction gets going going again, a lot will change.

 

China is doing great, mostly because they are catching up to where they would have been if they hadn't been held back by Maoism, but at some point they're going to hit a significant bump in the road and the flaws in their system that people are willing to tolerate in good times won't seem as acceptable when things are going wrong. IMHO.

[bmichaud]

Great post. Let's hope this kind of thinking continues so that we can continue to take depressed individual American equities off of their hands  ;D