Maybe the United States will be the place to invest for the next decade. It’s not that we’re doing great at the moment; we’re not. It’s more that everyone else is doing really lousy and our paltry GDP growth makes us a star. You could argue that China is doing well. However, it’s apparently doing a bit of creative reporting when it comes to economic numbers and company reporting, which is always a problem with China, isn’t it? Whom do you trust?
The economic signs (I read the tea leaves on my iPad — in fact, all the data one could want and more) are not all good, and we have a lot of debt. However, I’m still betting that we’ll somehow work our way back to health, and the miracle will be getting people back to work. Pray for the miracle, especially for the people who have completed unemployment insurance and still don’t have jobs.
As I’ve written before, the birth rate by 2050 suggests a renaissance here of sorts. So, as with the predictions that Japan would surpass the United States in the 1980s, maybe China really does not want to pass us. Think that is crazy? Maybe. But think about it — being No. 1 in the world carries a lot of responsibility and a huge amount of expense. We give as a nation and as a people all the time, and despite the fact that some government agencies expect support, we really don’t ever get much in return, except the good feeling that always comes when one does good.
Ever listen to Freakonomics Radio on NPR? Good stuff. The podcast I heard today had to do with the herd instinct and behavior — whereas we say we are each rugged individuals and even believe we are, the simple truth is — by an overwhelming margin — we are social animals and are motivated by the behavior of others.
What Your Peers Are Reading
Have a great week and do something individualistic.