It’s easy to succumb to a permanently negatively view of the future of the United States when you see personal responsibility on the wane as people expect more and more handouts, crony capitalism on the increase due to enhanced government power and a larger role in the economy, all happening while central planning, transferring capital out of the hands producers, increasing debt, and money printing are being advocated as solutions.
Ambrose Pritchard points out positive aspects happening in the United States in spite of the above.
- Shale Gas : the US is now the number one producer or natural gas, ahead of Russia thanks to new technology.
- Shale Oil : “the US was the single largest contributor to global oil supply growth last year,” a figure which is expected to “increase dramatically.”
- Inflation in China due to their own money printing and backwards policies have made the US manufacturing more competitive, creating a wave of “reshoring”
- It is the only developed economy with a fertility rate above 2.0.
In addition to Pritchard’s points, the US is Saudi Arabia of agricultural production. One could argue the great Keynesian lie is being exposed, as people increasingly realize that government solutions have unintended consequences. This has not yet reached a tipping point, but it could over the next decade. Then there is the entrepreneurial spirit, where despite all efforts to crush it, create a welfare state, and a nation of dependents, still thrives.