Don’t sell America’s economy short. Keep your faith.
“Despite the current financial crisis, there are many reasons to trust that the U.S. will, as always, rebound. A visiting Israeli Cabinet minister made two interesting points at a conference in Washington over the weekend. The current financial crisis, he said, is undermining the perception of American power when it comes to dealing with problems such as the Iranian nuclear program, Russian adventurism or the growing threat from Hamas and Hezbollah. Various actors around the world look at the U.S. and see a crippled giant. That reduces incentives to make concessions to Washington. What the pessimists ignore is that the fundamentals of the U.S. economy remain strong. Indeed, the World Economic Forum has ranked the United States as the world’s most competitive economy for the last two years. (The new survey comes out next month.) Its statistics show that per-capita gross domestic product in the U.S. consistently has grown faster than in other developed economies since 1980.”
