With the 4th of July coming up, I thought this would be a good time to pass along a great article from Stephen McBride of RiskHedge on the future of America. With all the media-generated worry and electioneering hype, it helps to keep our focus on what is real.
[Start of Stephen McBride’s article.]
It’s time to bet on America!
I had breakfast with Wall Street veteran Nick Colas in NYC a few weeks ago.
We were discussing Larry Summer’s famous quote, “Europe’s a museum. Japan’s a nursing home. China’s a jail.”
Nick followed up… “and America’s a business.”
A lot of investors I’ve met recently are down on America’s prospects.
They see the political mudslinging, college campus madness, and sky-high national debt and conclude America is washed up.
I completely disagree.
America is undergoing an innovation renaissance.
All the leading AI companies—from ChatGPT creator OpenAI to chip giant Nvidia (NVDA)—are American.
Robo-taxis are cruising around the streets of major US cities…
Elon Musk’s SpaceX is launching rockets from US soil every other day…
Every startup working on next-gen nuclear reactors is US-based…
And American biotech firms are developing vaccines to preempt deadly diseases… pills to kill cancer… and antibiotics to overpower superbugs.
I’m an optimist not because I believe the world will automatically get better. That’s complacency.
I’m positive about our future for one specific reason: entrepreneurs continue to invent world-changing technologies that make us wealthier… healthier… and safer.
America dominates innovation. So much so that when a non-US firm makes a breakthrough, it’s headline news.
For all its problems, I just don’t see America losing. Not when you have the smartest entrepreneurs and best companies on your side.
Amazon (AMZN) invests more money into research & development than every French company, plus the government of France—combined!
This Irishman is unapologetically bullish on America. [Here’s an example…]
Elon Musk’s Starlink is helping America’s farmers.
These days, more and more farms are equipped with innovations like self-driving tractors and pesticide-spraying drones.
Problem is, lousy internet access in rural areas precludes almost three-fourths of American farms from using them.
SpaceX is launching thousands of small satellites into space to create a network that provides cell and internet access anywhere on Earth.
Tractors driving around fields in the middle of nowhere might be a long way from a cell tower. But they have a clear view of satellites in the sky…
Today’s dose of optimism: America continues to awaken from its innovation slumber.
SpaceX just launched three rockets into space in one day. That’s unprecedented.
And it’s preparing for the next launch of its skyscraper-sized rocket Starship, which is intended to take people to Mars someday.
I love seeing big, bold, brash companies that prove naysayers wrong.
Civilizations die when they stop believing in the future.
Lucky for us, a new American frontier is opening up.
[End of Stephen McBride’s article.]
