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will we ever recover from this recession

RoyLatham
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7/24/2011 5:26:48 PM
Posted: 5 years ago
Long video. He doesn't get to the point until 7 minutes in.

He makes some good points. The demographics bulge is certainly true; more money will be spent on health care and less on sports cars in the future. He makes a good point about consumer confidence. Why would anyone be optimistic about the future of the United States? There are many reasons to be optimistic about China, India, and Brazil -- they all seem to have discovered free enterprise and the prosperity it produces. The same is true of Canada, Chile, and other countries. Not so the US. We seem doomed by regulation and an ever-expanding welfare state.

Overseas sales are keeping the multi-national companies profitable. 60% of Apple's sales are overseas. Giant investment bank Goldman Sachs laid off a thousand people in New York and added a thousand in Singapore. The US doesn't allow drilling for oil, so that's moving to Brazil.

A few years ago, the Wall Street Journal had an article entitled: "The Future is Clear, We're at the Crossroads." We certainly could have a turnaround, but it's probably less than a 50-50 chance.