But the Oracle of Omaha, Warren Buffett, says to “never bet against America” and I agree with him.
- The Pandemic is largely under control in spite of the Delta variant of the coronavirus. Most of the recent deaths are of people who have not been vaccinated. The drug company, Merck, has developed a pill that will protect against new high-risk infections. Covid, in fact, will soon become endemic (i.e. manageable with annual flu shots) rather than epidemic.
- Most top world companies are located in the U.S. It clearly shows that the U.S. dominates world industry, commerce, and innovation. This trend is likely to continue indefinitely because of our superior political and economic systems.
Stop worrying about the rise of China. The Quad, made up of the Asian powers Australia, India, Japan, and also the U.S., is more than capable of working together to keep Chinese hegemonic ambitions under control.
- Debt and inflation. Debt is by far our largest problem at the present time and it could soon get much worse with the Biden Administration’s blowout spending plans. But inflation is continuing to rear its ugly head. It is inflation that will directly lead to higher interest rates, which will, in turn, set off our next debt-caused financial crisis. If we’re lucky, the present rise of inflation will knock some common sense into the big spenders so deeply embedded in national government.
Conclusion. The U.S. can certainly not afford to be complacent but our great strength, economic and military, as well as our superb democratic form of government, along with our highly prized personal freedoms, will all contribute to help us keep our dominant position among the nations of the world for many years to come.