Based on an article by Paul Krugman which says:
“We’ve always known that America’s reign as the world’s greatest nation would eventually end. But most of us imagined that our downfall, when it came, would be something grand and tragic.”
“Instead of re-enacting the decline and fall of Rome, we’re re-enacting the dissolution of 18th-century Poland.”
Warren Buffett recently made the biggest acquisition of his career in railroads, when he bought Burlington Northern Santa Fe. Why railroads? “It’s an all-in bet on the future of the US economy”, said Buffett. And given the great man’s prowess, I see no reason to jump on the bandwagon, disagree and declare, “America Is Dead”!
The first part is available here.
The second piece to this article was written some days later with the following conclusion:
"In essence the United States is the world’s dominant economy and that advantage will be eroded to some degree by countries like India, Brazil, China and South Africa. However because of the fabric of the people of the US and the economy’s ability to rebound and emerge stronger after what appeared to be impossible odds, the US will still be the world’s most prosperous country in the next 100 years. China has problems which are far vaster in an economic, environmental and social standpoint than the US does yet the ability of the US people know the problems they face; to question, demand answers and hold politicians accountable is one of the very reasons this country will not see it’s own demise. Rather, your kids and grandkids will live a better life than you did, and that’s the ultimate investment one can make."
