Originally posted by SCGushue
In the end, the world (US any way... though I think Europe does it too) goes through these cycles every 6-8 years. The sky always falls for a year and revoers and does well for the next 7 or so. As FDR said , "We have nothing to fear but fear itself." So, don't worry be happy.
One other thing. Most people in crisis in the US today are people that have not learn to manage their income correctly or how to handle their finances and to live within their means. Their are times in life where, when you want something, you take stock of your assets and say no or sacrifice some other percieved need as a trade off. There are few common folk (9-5'ers) who can have it all and then be prepared for retirement.
Down from the soapbox now.
Stephen
Stephen,
I believe that history is not a guarantee for any future, however it is a very, very strong indicator of how things will develop.
Besides the up and down swing of the economy (wasn't it Marx first writing about that?), you can also recognize the up and down swing of nations, empires and power structures. It is inevitable for the US to loose its position the world in future, both from an economic as from a military perspective. The question is not if, it is when.
Europe is a place, divided between multiple cultures and nations, where such rise and fall of powers happened many, many times over the last 3500 years. (Read Wikipedia on empires). We still do live in reasonable luxury and good health over here.
Looking back in history however, you will see a lot of misery, poverty, misuse of power and sometimes success. This time of luxury is not self-evident. It has not all been stable at all.
I have a son now working in Russia, I’ve been in the US for over a hundred times or more over the last 35 years while working for HP and Sun microsystems, we have friends that live and work in India, China, Thailand and Malaysia. I see this world change, change that is happening more rapid each year. Global economy, travel, communication and all is what is making this speeding up.
China is doing manned space travel, the Russians need to make the space station work, India is developing its own airline industry and you better watch out for China. The Arabs are now joined by the new Asian rich taking over the world financial business, while this industry is in dire position due to greedy CEO’s and sales managers who are crashing the banking system in the western world. Mittal steel is owning most of the world steel production, Wipro is doing in outsourcing most of the worlds ICT business and they have started buying companies here in Europe like the US was doing 30 years ago. The younger populations in these new economy countries are better educated, have better jobs, are becoming consumers as well and they want to achieve something in live.
The economic position of the US is still #1 but declining. The US does not recognize the environmental issues the rest of the world does, therefore US companies are getting behind in developing new energy concepts. EADS has just recently won a defence contract in the US, protests in US politics, how can a foreign nation deliver such airplanes to the US military? Isn’t that what has happened for 50 years the other way around? You can see the US politicians have become too complacent and need to wake up and act fast.
Is this all a negative thing? No, don’t think so. It is how the world is, and always has been and will be. That’s what makes this an interesting planet to live on.
As always there is this up and down swing. In 500 years from now, who knows what will happen. Perhaps Brazil will be the ruling the world and Islam will have conquered the north American countries.
Change is the only constant in history
- Bert