Things are still better in America

Posted: February 1, 2012 in Bug Off Pest Control Center
Tags: , , , , ,

I want to share an article with you I received towards the end of 2011 from my friend, Mike Hannigan at Ford Financial.  I know sometimes things get tough and the future doesn’t always look so bright. After reading this you may find things are better than they seem.  I hope this message reminds you all that there is always something to brighten your day. Here you go…

Earlier this week, I received US Trust’s August Issue of Investment Strategy Overview.  In it is an article titled “Revisiting What’s Right With America”.  It is a great article and it lists 10 factors that make the USA an economic powerhouse.  Below is a summary:

Revisiting What’s Right With America

1.      The US is the largest and most productive economy

The US population represents about 5% of the world’s population, yet our economy accounts for roughly 25% of global GDP.  Furthermore, our GDP, about $14.6 trillion, equals the output of the next 3 largest economies – China, Japan & Germany.

2.      The US remains a global leader in manufactured goods

You would never know this from media reports, but the US is a manufacturing powerhouse – ranked 2nd only to China, who grabbed the top spot in 2008 from the US.  US manufacturing output exceeded that of Japan and Germany combined in 2009.

3.      The US is the largest exporter of goods & services in the world

In 2010, the US exported $1.8 trillion of goods and services representing 9% of total global trade according to the World Trade Organization.

4.      The US remains the world’s favorite destination for foreign direct investment

The US remains the most attractive market in the world for foreign investors.  Our allure is due to several factors including a vast and wealthy market, large skilled labor pool & a transparent rule of law.  According to the UN Conference on Trade and Development, FDI (foreign direct investment) inflows to the US were about $2 trillion between 2000 & 2010.  By comparison, China’s FDI inflow was $792 billion.

5.      America is home to the world’s top global brands

According to the 2011 report by BrandZ, nearly half of the world’s top brands are American.  Nine of the top 10 global brands are American.

6.      The US remains the world’s technology leader

The US continues to be the most innovative economy in the world.  Our risk-taking and entrepreneurship is chiefly responsible for this technological leadership.  As a result, the US continues to attract the best and brightest from around the globe to live and work in the US.  America is the largest market for information technology spending on hardware, software and services according to Economic Intelligence Unit.  The US also leads the way in the explosive social media market.

7.      The top-ranked universities in the world are in the US

According to the Quacquarelli Symonds World Rankings, (I never heard of this organization) 31% of the world’s top 100 universities are located in the US.  According to the Institute of Int’l Education, for the 2009 – 2010 academic year, American universities hosted 690,923 international students, making the US the top destination for foreign scholars.

8.      The US dollar is still the world’s top reserve currency

Despite the S & P downgrade, the dollar continues to be the currency of choice for many nations.  The dollar accounted for about 61% of global bank reserves as of the 1stquarter of 2011, according to the IMF.  The euro ranked 2nd with a 27.8% share.

9.      The US military is a significant resource for technological innovation

In recent decades, US military research has incubated key technological breakthroughs that went on to become commercially feasible.  The internet is a system initially developed by the US military that has changed the way the world transmits information.  Military research is likely to continue in the years ahead.

10.  The US ranks fourth in global competitiveness

Thanks to our research universities and our innovative capabilities, the US has ranked at or near the top in this category since the World Economic Forum first released the report in 2001.  In the 2010 – 2011 ranking, the US dropped to 4th place due to weakened financial markets.  However, the US economy remains among the most competitive in the world.

To sum up, unemployment is too high and our economy is not growing at the rate required to reduce unemployment.  The baby boomers are beginning to retire and Social Security and Medicare are about to endure the additional burdens of providing for them.  However, the US continues to have the strongest, most resilient and innovative economy on the planet.  I am hopeful that our political leaders will make the tough decisions required to control our deficits and get GDP back to the 3% – 4% range necessary to put the unemployed back to work.

So, here’s to hoping your day looks brighter and 2012 is a great year for us all!

Thank you,

Andy Linares, Bug Off Pest Control Center

  1. daiseybug says:

    Great article. Thanks for sharing Mike & Andy. I had no idea we were that close with China, ranking 2nd. I thought we were farther down the scale than that. Good to know.

    I can say our business has done well for a new startup in 2010. I know still tough for lots of folks and I agree with the article, let’s hope our new leaders can really help those that are still in a tough spot.

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