Some economists worry about the future and in some ways we all do. However, the more innovative and long term thinking we become as an American People the less problems we will have. It is easy to think that other nations like China and others want the U.S. to collapse. This is sort of ridiculous thinking because ALL nations economic stability depends upon the U.S. to some degree. For example, because of extremely fast growth as a nation, China is what I call in a Feast or Famine cycle. What I mean by this is that the faster an economy grows the more unstable it tends to get just like a motorcycle might be safer at 50 mph than it would be at 70 or 100 mph. A world economy to some degree is like this too. There is a natural stability and resiliency built into the U.S. economy that most economies just don't have to the same degree. If Europe is successful in turning the European Union to be more and more like the U.S. economy while customized for European nations and peoples, over the next 20 to 50 years likely Europe and the U.S. will become more and more similar and stable as world economies go. And I see over the next 50 years China also becoming a lot more like the U.S. and Europe out of necessity just to keep their own people happy and so they won't revolt to the degree where the Chinese government falls. It will be out of survival and necessity that China will succeed by becoming more capitalistic and democratic styled likely more the way Hong Kong and Taiwan and Shanghai now operate.
But, it is important to understand that innovative thinking by all of us as individuals and as nations and as a world economy must be in place at all times in order for all of us to survive ongoing as world economies and nations. Problems, if they are realistically dealt with both individually and nationally and internationally, will be solved. And the biggest obstacle to future progress in the U.S. is short term thinking economically. Unless the U.S. moves away from 2 to 4 year election cycles in our thinking and start to think what we are going to need 20, 40, 50 and 100 years out the whole thing just isn't going to work much longer without collapsing down upon us and our children.
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