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05 The Current State of the American Economy Part 04
Manage episode 160658549 series 1260274
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One of the realities that I face in this type of work, projecting the year ahead for our economy or looking out with a longer term view, is that every year the gloom and doom writer’s publish hundreds of books a year predicting calamity for our economy. If you read books or watch the hourly grind of news programs you have seen the daily pass through of hedge fund managers, economists and the financial news shows that give a forum to those “experts” who have been very explicit in their prognosis for America, and that is our entire economy is going to collapse. Of course they have been saying this since 2009 with some of the most outlandish opinions that do not deserve to be on a television show or in a book.
You might wonder why this happens. Think about it this way, if you write 10 books in 10 years about the annihilation of the American economy and you get it right one time, you become a guru in this space, sell millions of books and are interviewed on every show for the next 5 years. Fear sells but it does not help you run a business or make very wise investment decisions.
In this podcast I explore the fall of China, the changing landscape in manufacturing, the explosion of oil production and the future impact of these forces on our country. I even predict the 2015 stock market correction that occurred in August of 2015. Take some time to listen to my ideas and I think you will come away with a different view of our future.
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