Regular readers know I am super bullish about America in the long-run. Despite our near-term difficulties, the core infrastructure that made this country great is still intact. In this morning’s missive Jeff Saut touched on 5 reasons why America isn’t going down the tubes any time soon:
1) The United States is the home of the entrepreneur.
2) The U.S. is the most open/flexible society the world has ever seen.
3) The brightest minds from around the world dream of coming to the U.S.
4) English is the universal language.
5) Americanization remains a powerful and growing – though resented – economic and social trend throughout the world. (To quote the advertising/marketing giant WPP Group’s CEO, Sir Martin Sorrell, “Globalization is a misnomer. The better word is Americanization.”)
Despite our near-term problems I think it’s always a death wish to bet against America in the long-run. There are simply too many macro trends working in favor of progress of this country over the long-term. There is little doubt in my mind that the USA will be at the forefront of the next great economic boom and this current balance sheet recession is just one more hurdle for the country to overcome.