World Power Swings Back To America -- Ambrose Evans-Pritchard, The Telegraph
The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.
Assumptions that the Great Republic must inevitably spiral into economic and strategic decline - so like the chatter of the late 1980s, when Japan was in vogue - will seem wildly off the mark by then.
Telegraph readers already know about the "shale gas revolution" that has turned America into the world’s number one producer of natural gas, ahead of Russia.
Read more ....
My Comment: I am not that optimistic. The U.S. still has a huge budgetary deficit, and it is this government addition to spending, regulate, and imposing their will on the American public that is making America's entrepreneurs hesitant or downright hostile to implement the resources and time necessary to develop and grow their businesses. Until America gets its fiscal house in order .... both in government and in private lives .... any talk of America "coming back' and reversing our decline is premature.
2 comments:
We have opposing perspectives. You deem are troubles due to the govt whereas I see our grwoing gap between the haves and have nots, the terrible education system, the lack of decent health plans, the stagnant incomes of middle class, the lack of job opportunities, the non-stop wars that seem to get us nowhere , the collapse of our infra-structure--this and much more makes us 2nd rate and continues our downward slide. The simple answer that dumping regulations etc would turn things around had been tried and has not worked.
After the massive Bush tax breaks for the wealthy, our deficit shot way up--and did it create jobs? look about. NO
It's OK Fred that we have different perspectives .... it is just that I have already lived in a society (the former Soviet Union) that pushed for decades the policies that many Liberals in the U.S. now espoused, and I now live it in Quebec that has already implemented everything that is on the liberal agenda. That is why I am so hostile to the liberal agenda .... I have already lived it, and I am now living it right here. We have free health care, but a dysfunctional and horrible system of care (I contracted Lyme disease a few years ago, but I had to go the States for treatment). High taxes .... but as a result we do not enough entrepreneurial activity to generate serious job numbers and an absence of economic growth that has now resulted with everyone getting poorer and no one getting richer (including me). An educational system that is free coupled with a university system that is very cheap .... but we pay through it with higher taxes and on where we can send our children to .... and even then our system is failing. When we have stats that indicate that over half of French high school students on the island of Montreal are dropping out ... even higher for minorities ... you know you have a problem. As for regulations that tell us what we can do or what we must do ..... lol .... don't get me going there. As for deficits .... my Chinese business contacts tell it to me perfectly .... it is not because of lower taxes that we have deficits .... it is because of uncontrollable spending and no fiscal discipline that we have blown our budgets. My girlfriend is a perfect example of this .... she earns mega bucks .... but she is always broke and in debt.
I (of course) can go on and on and on and on all of this issues .... but time limits me, and I know that you will not be swayed by my own personal experiences. My father who had the experience of living everywhere told it to me best when we talked about politics/economics/differences between west and east .... he always found it amazing that he found more liberals/socialists/progressives/whatever living in the U.S and Canada than in all of Eastern Europe combined.
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