I have a cohort who regularly sends me “doomsday” articles from Seeking Alpha. As a response to one that he just sent me, explaining why our banking system is about to collapse and thus send us down the tubes, i sent him the following email. I thought it was worth sharing.
H–I just don’t see this doomsday scenario happening.
I have been looking at some figures on-line from the cia world factbook and have now ordered the 2011 version from Amazon. I am sure just mentioning the cia might raise eyebrows, but for some reason i have this “sneaking suspicion” that their facts might actually be better than those that a lot of the “doomsayers” keep throwing out there.
There are many ways to measure a country’s value besides “gdp”, “banking”, “debt”–and even though the u.s. can still hold its own quite well in those arenas, the u.s. does quite well in a lot of other areas, too, including “water supply”, “agriculture”, “wealth per capita”, “infrastructure in airports, railways, roadways, etc.”, “housing”, “land per capita”, “education expenditures”, “military expenditures”, “life expectancy”, “electricity generation”, etc.
Yes, we need to fix some things (maybe even a lot of things), but if we are smart and start doing some of the things that this new government panel came up with, then i wouldn’t pay too much attention to the doomsayers.
What is happening today is that the rest of the world is improving themselves faster than we are, but that is a lot easier to do when you are starting up than it is when your business life cycle has somewhat matured. For example, it is a lot harder for Microsoft to experience 100% growth today than it was when they were much, much smaller back in the 1980s. And it a lot harder to raise your standard of living in the u.s. today than it is in China, India, Brazil and Russia.
The U.S. is still a great country (and a great place to live) and i really believe that we should do as much “brain draining” as we possibly can from the rest of the world. I also think we need to get a little off our “high horse” and recognize that the rest of the world would kind of like to live with some of the high standards which we seem to take for granted.
Personally, i think we need to quit listening to all the “pundits” who really don’t know jack. There are always two ways to look at things, and personally i don’t think the doomsayer approach is the best one.