Quote:
Originally Posted by $5 submissions
Jim Rogers also believes that the best days of the USA are behind it. I am paraphrasing: "In 1807 if you wanted to be in the center of the world's economy, you moved to London. In 1907, you moved to New York City. In 2007, you move to Asia."
I disagree. While the recovery will probably take much longer than any of the recessions the US has suffered since WW2, that's a far cry from saying that its glory days are over. The fact that the US still continues to attract the world's best and brightest and the US still continues to reward innovation and novel thinking almost guarantees that the best is still to come.
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I can see your point, but also, when you play devils advocate and look at it this way....the brightest and smartest come to America, start a company and outsource majority of the work to Asian countries. Sending the money overseas so while the company itself is making more revenues and is based out of the US majority of the money goes elsewhere for personnel costs etc. So while we might be one of the best places to live, our economy isn't the center anymore. With the internet and communications technologies we have and are on the brink of having. I think the world as a whole is going to just be even playing ground sooner then later when it comes to central start point. The times of being the center of an economy are switching to asian countries due to cheap labor and room for rapid expansion. As this phase dies out I see it just being a world economy where you do whatever from where ever and no longer worry about being in the middle.
I sort of agree with Jim Rogers when he says the hay day of the US is gone, we are no longer going to be the big pimp on the corner, but more so even with the rest of the world as they are finally catching up thanks to lower costs of entry and lower technology costs from advances made over previous years.