Greetings! I trust that this will find you well and enjoying life.
I read an article in Think Advisor magazine recently (you can find the entire article posted on Armor Financials Facebook page) that was intriguing. The article quotes Joel Kurtzman a senior fellow at the Milken Institute, regarding his logic about the potential strength of the US economy. I found it to be refreshing and highly plausible. I encourage you to read it in entirety at our Facebook page yourself but here are his major points.
-“We underestimate the creativity and innovative capacity of the country, it’s not genetic it’s cultural and unequaled anywhere else in the world. Only we create the Apples’ and the Facebooks’. The corridor around MIT in Boston is the world headquarters for biotech and we have nine other research corridors equally as important as that.”
-“US energy independence may be an underappreciated force for positive change in US economic life. Look at the US in terms of its tremendous capacity for manufacturing and put a Saudi Arabia on top of it and you get the picture.”
-“The reshoring of US manufacturing is the third powerful force for US dominance. The use of robotics and technology is well suited for US industry and the trend is for more of it, therefore manufacturing is moving back to the US as labor cost increase in countries like China and India. An example is BMW now manufactures all of its’ SUV line in the US for world production.”
-“The deployment of financial capital is the fourth big source and this insures America’s economic renaissance. There is 4.4 trillion of capital waiting on the sidelines in the form of Americans saving and investing more and foreigners willing to lend us their capital at near zero returns, because they see the US as a safe haven in a troubled world.”
Asked what can hold us back Kurtzman points to the only source as the government and we seem to be growing in spite of them. Imagine what we could do if the government was pro-business. Perhaps our next administration will be.
Yes there is room for incredible optimism in America. I’m looking forward to the ride. Are you?
If you have questions about anything regarding finance or feel that I can help in any way don’t hesitate to contact me