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The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

22 January 2010

How America Can Rise Again

A brilliant, if very lengthy, essay by James Fallows in the January 2010 issue of the ATLANTIC...

"America will be better off if China does well than if it flounders. A prospering China will mean a bigger world economy with more opportunities and probably less turmoil—and a China likely to be more cooperative on environmental matters. But whatever happens to China, prospects could soon brighten for America. The American culture’s particular strengths could conceivably be about to assume new importance and give our economy new pep. International networks will matter more with each passing year. As the one truly universal nation, the United States continually refreshes its connections with the rest of the world—through languages, family, education, business—in a way no other nation does, or will. The countries that are comparably open—Canada, Australia—aren’t nearly as large; those whose economies are comparably large—Japan, unified Europe, eventually China or India—aren’t nearly as open. The simplest measure of whether a culture is dominant is whether outsiders want to be part of it..."


and

"America the society is in fine shape! America the polity most certainly is not. Over the past half century, both parties have helped cause this predicament—Democrats by unintentionally giving governmental efforts a bad name in the 1960s and ’70s, Republicans by deliberately doing so from the Reagan era onward. At the moment, Republicans are objectively the more nihilistic, equating public anger with the sentiment that “their” America has been taken away and defining both political and substantive success as stopping the administration’s plans. As a partisan tactic, this could make sense; for the country, it’s one more sign of dysfunction, and of the near-impossibility of addressing problems that require truly public efforts to solve."

I already can hear the wails from the FOX News epigones and the libertarians. Just read the article. It offers something for each reader; in fact, it offers riches.

Consider reading it to be your weekend homework assignment. :-)
-- David M Gordon / The Deipnosophist

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