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Why USA Will Remain World’s Dominant Economic Power
While the vast majority of pundits are looking at a future time clock marking the historical moment at which China will surpass America’s leadership in gross domestic product of goods and services, this inevitability will not be a true measurement of overwhelming global economic superiority.
While the intrepid and justifiably successful Chinese growth, utilizing its substantive 1.4 billion population mass, has sensationalized the world with its 30 year unprecedented expansion, to runnerup position to the U.S. in GDP, it will not be destined to overcome the solidity of the U.S.’s overall economic power centrum for the following reasons:
1) No world nation possesses the unassailable component advantages. These include the world’s third largest population (320 million), unlimited reserves of fossil fuels (coal, oil, natural gas), renewable energy development, and the world’s leading agricultural productivity, and acreage, still largely empty and designated as federal lands. But, most of all, the U.S. possesses an independent business infrastructure of hundreds of thousands of individual privately-owned corporations that comprise the forward thrust of America’s free enterprise economic dynamic. Whether it is technology, communications, science, infrastructural transportation, or solving growth problems, it’s the genius of the countless American independents, who have lit the fires of America’s incomparable evolutionary drive.
2) While the fast-growing American population, which admits one-million legal immigrants annually, continues to increase the thrust of its person power growth, it eventually overcomes the myriad social, employment, economic growth, and integration problems, which it has handled better than any other of the world’s major nations, especially the nation’s European brethren.
3) Although the U.S. is presently undergoing a crisis of leadership, a split Congress, struggling against a disputatious Presidency, and a hard-pressed Supreme Court, this is mostly the result of violations of the “nation’s Bill of Rights,” which allows freedom of expression by each individual and a press that pursues a governmental viewpoint out of step with a large segment of the population.
4) If America was looked at as a running business establishment, no country on earth could hope to equate the $81 trillion of its household assets, or likely an equal amount of resource-laden reserves, reposing underneath its fertile ground.
While this nation is undergoing turbulent times, it has the additional advantage of two neighboring nations, Canada and Mexico, with which it has a solid free trade agreement (NAFTA). It’s the only one of its kind in the world that binds together three trillion dollar generating economies. All are facing their separate bright futures, beset only by problems of its varied dimensional cultural outlooks. It does not require a far-sighted historian to view the North American future through the lenses of supreme optimism.
33 Comments on "Why USA Will Remain World’s Dominant Economic Power"
Plantagenet on Mon, 20th Oct 2014 1:30 pm
This article is wrong, wrong wrong, wrong. wrong.
By some measures China GDP has already passed the USA, i.e. http://rt.com/business/194264-china-surpass-us-gdp/
And, considering the moribund ca.2% GDP growth the USA is attaining under Obama, even with huge QE added in, its just a matter of a few years until China will clearly pass the USA in terms of nominal GDP.
louis wu on Mon, 20th Oct 2014 2:12 pm
“No world nation possesses the unassailable component advantages. These include the world’s third largest population (320 million), unlimited reserves of fossil fuels (coal, oil, natural gas), renewable energy development,”
The entire planet does not contain unlimited reserves of anything because it is finite and therfore cannot contain unlimited amounts of anything, except maybe stupidity.The author loses what little credibility they might have with that statement alone.
henriksson on Mon, 20th Oct 2014 2:31 pm
1) The world’s foremost economic power is and remains the European Union.
2) US hit peak oil in 1970 and peak coal in 2013. It’s worth reexamining just how “unlimited” those sources are.
noobtube on Mon, 20th Oct 2014 2:31 pm
America is the best because Americans are the “exceptions” to logic, reason, and facts.
Baby Jesus said so and God Bless America.
Bob Owens on Mon, 20th Oct 2014 2:40 pm
This article is beyond dreamland. Our resources are about exhausted, our infra-structure is falling apart, we are running a perpetual war machine, owe $17 Trillion in debt, are degrading our topsoil, have a civil/drug war going on in Mexico to our south, the rest of the world hates us and the Chinese have 20 times the Engineers we do. Enough said.
JuanP on Mon, 20th Oct 2014 3:09 pm
“unlimited reserves of fossil fuels (coal, oil, natural gas)”
As much as I want to read real good news regarding the USA, this was not it.
eugene on Mon, 20th Oct 2014 3:29 pm
Too bad there’s not a market for BS.
Charlie Bucket on Mon, 20th Oct 2014 3:53 pm
@noobtube,
I like the baby jesus the best!
Perk Earl on Mon, 20th Oct 2014 4:03 pm
“While the vast majority of pundits are looking at a future time clock marking the historical moment at which China will surpass America’s leadership in gross domestic product of goods and services, this inevitability will not be a true measurement of overwhelming global economic superiority.”
They should link music there with the William Tell Overture so we can all get teary eyed, put our hands over our hearts, look skyward, blissfully assured of overwhelming superiority (in spite of stats to the contrary).
Stercusferi on Mon, 20th Oct 2014 4:16 pm
It’ll be interesting to see USA get the boots laid to it when it’s down. USA spent the most part of the last 250 years pissing everybody off and history teaches us that Nations and States tend to hold a grudge. Maybe China will flood usa with cheap heroin.
ghung on Mon, 20th Oct 2014 4:22 pm
by Morris Beschloss, TDS
“TDS” is for Totally Deluded Schmuck. I looked it up.
ghung on Mon, 20th Oct 2014 4:41 pm
Stercusferi: “It’ll be interesting to see USA get the boots laid to it when it’s down…”
Are you talking about the millions more around the globe who will starve? About how the global economy crashes and goes into a protracted depression? Tens (if not 100s) of millions of lost jobs in China, India, and other countries the US exploits? Yeah,,, interesting. The worlds biggest consumer is also the world’s biggest customer, though China is getting there.
The fall of Rome turned out pretty badly for most folks in the region. You might keep that in mind.
Northwest Resident on Mon, 20th Oct 2014 4:45 pm
ghung — Thanks for the laugh! Very clever.
Stercusferi — Too late. Afghanistan already has the cheap heroin market cornered in the USA, and elsewhere. Once again, China is a day late and a dollar short. China ought to concentrate that effort on Merry Old England anyway, seeing as how it wasn’t that long ago that England did just exactly that to China. Payback in this case would most definitely be a bitch.
Perk — Maybe Tchaikovsky’s Pathetique would be more appropriate??? But hey, I get your sarcastic sense of humor!!
Davy on Mon, 20th Oct 2014 6:54 pm
Stercus, your a coward. Tell me what low life county you are from. Pussies like you like to cut people down then run and hide.
DMyers on Mon, 20th Oct 2014 7:46 pm
The comparison with China is hazy. Seems to be couched in terms of growing civilization as the baton, which may or may not be passed on to China. Instead of America with two cars per family and big house and big bathroom and bug SUV, will China now become the beacon of bigness?
Clearly, we see a cumulative effect of USA falling and China rising. The unanswered question here has been around for a long time. Does an economy of paper shufflers, loan sharks, ambulance chasers, and knife happy surgeons merit an equal economic position as against an economy that produces goods?
Here’s how that would play out.
“Sir, for five hundred bucks, you can have stuff or promises.”
“..err..stuff?”
“You want stuff? You haven’t even heard our promises.”
“The hell I haven’t. I’m takin’ stuff!”
Ultimately, an economy that produces desired products is going to have at least that one edge on one that only brokers, treats, defends, insures, and entertains.
Makati1 on Mon, 20th Oct 2014 8:41 pm
Well, it appears that I do not have to add to the put-down of this BS piece from the Ministry of Propaganda. Obviously many readers see the USSA for what it really is. A bully about to get it’s ass kicked by the rest of the school yard.
Makati1 on Mon, 20th Oct 2014 8:45 pm
Stercusferi, be careful you just pissed off a ‘Patriotic’ American flag waver by stating the truth. LMAO
Davy on Tue, 21st Oct 2014 6:53 am
Mak, I will give you the credit for saying who you are and where you live. The cowards I mentioned duck for cover and prefer cheap shots. The problem with you Mak is you are from the dark side of hate. Read the below from C.L. Lewis. It describes your type perfectly Mak.
“We must picture Hell as a state where everyone is perpetually concerned about his own dignity and advancement, where everyone has a grievance, and where everyone lives the deadly serious passions of envy, self-importance, and resentment”.
Makati1 on Tue, 21st Oct 2014 7:23 am
Davy, the description fits you perfectly, doesn’t it?
I don’t give a damn what anyone thinks about me. I got over that years ago. I am me. No envy, self importance or resentment here, but I think you still have some left over from your 1% days … if they ever existed. No real proof available. You can be anything on the internet.
I AM a bit disappointed and pissed at the country that I believed existed but never did. It was ALL lies and BS. ALL of it. The 1/100% have been running it for all of the 20th and now into the 21st century. They are destroying it totally now. It cannot exist in a One World Government. The middle Class has to go. But the wall of immovability is China and Russia. Exciting times coming.
Boat on Tue, 21st Oct 2014 6:36 pm
Since WWII who benefited from the US through trade and tech. Why geeze, our enemies and allies that fought in the war. Gotta love them Yanks for showing the world how to live. There are more people living better off than in the history of the world as we know it. Less death, better medicines, better food nutrition better circulation of all manner of goods. If other less developed countries learned to to control their reproductive options and be a lil more prudent, they to could live the American dream. PS learn to read and question their Leaders.
America isn’t perfect and but a few idiots think so. Almost every president that went to war their party was voted out when it became obvious it was a mistake. But since WWII we are no longer afraid of war. We just want situations to be handled differently.
US in decline? I read that a lot. See none of it. We need 30 thousand welders in Houston alone. Get a job.
Davy on Tue, 21st Oct 2014 7:00 pm
Now Boat, I got to be fair with you. I spit on the assholes that unfairly talk down the US. Boat, I am not going to spit on you because you are a nice guy but you are reeeachen their friend.
Boat on Tue, 21st Oct 2014 7:08 pm
Be specific please.
Davy on Tue, 21st Oct 2014 7:26 pm
Boat, it is a very mixed bag. I agree showing the world how to live in the 50/60’s but we are an embarrassment today. We blew it boat back at the start of the 70’s. Things are terrible now unless you are a 1%er. The boasting about food, medicines, and less death I would say so what if basic quality of life is down. I would rather be living in the 50’s any day compared to today. Boat, as an American I would say hold these thoughts to yourself and feel good quietly. Few here want to hear an American crowing about America or our lifestyle. It is already a constant battle to fight off the assholes that continuously bad mouth the US. Which I get tired of because most of them come from a dumb ass country that many are cowards to even admit they are from. So my point is Boat. You would do our cause better service by just being modest.
HIruit Nguyse on Tue, 21st Oct 2014 8:07 pm
“unlimited reserves of fossil fuels”
How the nation will fail indeed…
Makati1 on Tue, 21st Oct 2014 8:55 pm
Russia is the last truely independent country left on Earth. For that very reason, it cannot be allowed to stand.
BUT, two obstacles are in the way:
China
5,000+ Nukes
Of the two, the nukes hold the most power, unless China teams up and adds their nukes. Why else is the Empire so anxious to get missiles on Russia’s border?
If I were Russia, at some point, I would let fly and take my chances as I am sure the US will do so when they decide they have the advantage. They already said so in public.
You and I are just ‘collateral damage’ and unimportant in their world domination game. You should see that by now.
Boat on Wed, 22nd Oct 2014 6:20 am
I would never apologize for working hard and owning a home and being able to heat and cool it. Until recently I commuted 36 miles each way 6 days a week. When I walked out of my house it took 13 hrs 6 days a week to get back home. I am one of those fat lazy Americans they yak about. They couldn’t make it in America. I work hard long hrs to provide for my loved ones. In 35 plus years of working I have never had a job that was less than 10 hrs a day. I am modest, I am not rich, and I bust my butt for every dime. I am also proud to have lived this life style. It’s in my DNA.
Boat on Wed, 22nd Oct 2014 6:29 am
Davey if you were a woman or black the 50’s and 60’s you might feel different. If you were drafted and shipped off to a war you didn’t support you might feel different. If you were a child there were not near as many social programs that attempt to end the cycle of poverty. The US still has a long way to go but I don’t see any early times as being better.
JuanP on Wed, 22nd Oct 2014 7:35 am
Boat “There are more people living better off than in the history of the world as we know it.”
I love your glass half full perspective. From my point of view, there are also more people starving to death and living in miserable conditions than ever before, too. There are more than one billion people that are hungry right now, more than ever before!
Davy on Wed, 22nd Oct 2014 7:36 am
@ – Why else is the Empire so anxious to get missiles on Russia’s border?
Some people do not have background in nuclear weapons so they speak out their ass with fantasy. There is little need of having missiles on the boarders when you have submarines and stealth bombers with a second strike capability. There is no need for thousands of nukes because a few will destroy the global system and the climate. The destruction of any of the critical nodes to the global system will do the trick to systematically. There are some people on this board that live in Sci-Fi delusions of a great war to end all wars with their bright horse as victor. When one looks at the reality of Nuk war we see industrial man’s suicide.
JuanP on Wed, 22nd Oct 2014 7:38 am
Boat “I would never apologize for working hard and owning a home and being able to heat and cool it.”
Then you are part of the problem. It is people like you that are directly responsible for the planet’s destruction. I hope your family appreciates what you are doing for them, particularly the future generations!
Davy on Wed, 22nd Oct 2014 7:53 am
Boat, I work 9 to 10 hour days but for me it is not work it is a passion. I may be on this board allot but it is from my IPhone at breaks from my work. I don’t see the point of working more or less. Some jobs people are working themselves to death for what? Some people can work less and do more. In industrial society some jobs are actually killing the planet and it would be better if less was done. Boat, you are stuck in the old protestant work ethic Americana. What is life worth? Why do long hours of work make a person more valuable or have more dignity? If a system is broke then long hours of work supporting that system would be wrong.
Boat, you can’t tell me blacks, women, and or children are necessarily doing better now. That position is very debatable with so many mixed results of progress. I see woman with lost dignity and position. White males that are made redundant and angry. Blacks dispossessed in urban slums. Welfare programs for the poor when the real welfare is to the 1%ers in mass wealth transfer from central bank financial actions. This whole subject is very ambiguous Boat. A book could be written on the socio economic comparisons of the 50’s and 2014.
JuanP on Wed, 22nd Oct 2014 9:00 am
Boat “if you were a woman or black the 50’s and 60’s you might feel different.”
Or you might not. One of my closest friends was a really old African American Jazz musician neighbour I had for over ten years. We talked daily. He passed away last year, and I sorely miss him because he was the last person I enjoyed talking to in person about important issues. He was extremely smart and very well informed, and a joy to talk to.
He disagreed with you completely, boat. He said life for blacks in America was way better before the 70s in spite of racial discrimination. He told me many times that he pitied younger African Americans, particularly men. Most of his black friends agreed with him, particularly the old ladies.
How many older African Americans have you really talked to in your life? Your statement seems based on suppositions, not information.
JuanP on Wed, 22nd Oct 2014 9:08 am
Boat, I am not trying to beat on you, but I am aware you’ve been on my receiving end lately. I think your problem is that you still believe in the idea of inevitable human progress. It’s a lie! Nothing more than a story we tell ourselves to feel special. The truth is we are just animals, and we eat, shit, grow, consume, breed, and die just like all animals do.