The US is the single largest economic powerhouse of the planet and is way ahead of its nearest competitor, China by a huge margin. Obviously, as a fast growing developing country, China has some advantages and can take over the US as the world’s largest economy in the next decade or two. But, for the time being, USA is going to retain its position as the numero uno economic power of our planet.
How did the US economy gain this huge might over the last couple of centuries or so? The market friendly economic policies and the efficiency of the market played a huge role in bringing the country to its current position. Continue reading →
I am not the type of person to know much about politics or the state of our economy. I know the basics on both, and I can hold my own on most conversations. When someone wants to get into the nitty gritty details though, I am out of my league. With the political arena heating up so much for the upcoming elections, my attitude on this has changed. I want to be an informed voter. I am tired of just voting for the person who is in the same party that I am in. I want to vote for the best person for the job. In order to do that though, I knew that I would need to take a crash course on the state of the union.
The best way to do this would be to understand more about the economy. I already understood what I needed to know about the war on terrorism, the fight for gun control versus the alternative, and a lot of the other topics being tossed around nowadays. Continue reading →