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Why I'm Bullish On America
By : Michael Angier
Author's Note: I wrote this in June of 1998. In spite of current
statistics and the many dire predictions about the economy, I
chose not to update it. The truth is, I'm as optimistic today as
I was then--perhaps more so.
AS I WRITE THIS ARTICLE, THE DOW Jones Industrial Average hovers
around 9,000--far above the $3,000-mark of just a few years ago.
Inflation is running less than two percent, interest rates are
low and US unemployment is below five percent.
The statistics above are some of the best seen in my lifetime.
The combination of low interest, low inflation and unprecedented
growth is reason enough for anyone to be confident.
I'm not only optimistic about the next few years, I'm optimistic
about the next few DECADES. One of the reasons for my upbeat
outlook is the commitment I see on the part of both Democrats
and Republicans to have a balanced budget. They may even commit
to retiring the national debt.
With a third of our budget now being used for debt service,
eliminating our country's debt would have a HUGE impact on the
prosperity of North America--and the world.
Here's another theory. As the largest segment of our population
(the baby boomers) reaches retirement age over the next 10-20
years, most of them will not really retire. There are numerous
reasons for this.
Many of them simply can't afford to. They didn't save enough
during their working years to retire at a lifestyle they're
comfortable with. During the high inflation years, the incentive
to save was diminished. Many were also lulled into thinking that
social security would take care of them.
A growing number of people reaching retirement age will simply
not WANT to retire. More and more people are doing work they
find fulfilling and interesting. They like what they do. And if
they don't, they can find something that they DO enjoy.
Better health and longevity will contribute to a longer period
of productivity. In addition, retirement-aged people will be
able to continue working because their work doesn't require as
much physical labor as it once did.
All of this will result in a virtual army of people continuing
to produce wealth--not only for themselves, but for everyone
else. Commerce creates wealth. Our gross national product will
continue to rise at a rate unprecedented in any economy.
I'm an optimist. Always have been. With everything I know and
believe, I think we are in for the greatest boom times the world
has ever experienced.
To take advantage of it--to be part of it--we must get out of
debt ourselves, hold our elected officials accountable to do the
same in government and participate fully in the new information
economy.
My oldestt son told me recently that he was saving 10 percent of
everything he earned. Several other young people I've spoken
with have told me the same thing. They have 401Ks, IRAs and
stock portfolios.
Starting in their twenties, saving 10% of their income, they
have all but guaranteed they will be millionaires by retirement
age. I predict that becoming a millionaire will become the norm
rather than the exception.
We need to position ourselves for prosperity. We must learn the
principles of success and the keys to high effectiveness.
Buckminster Fuller's mission was to make the world work for one
hundred percent of humanity. I believe his vision is still a
possibility. We live in an era where only a small part of our
income is needed for survival. Never before has so little of our
efforts been directed toward survival.
As we devote our best intentions to living an abundant life for ourselves and others, we have the best chance of any generation to truly build a world that works for all of its inhabitants.
Copyright 2001 Michael Angier & Success Networks International.
Michael Angier is the founder and president of Success Networks.
Success Net's mission is to inform, inspire and empower people
to be their best--personally and professionally. Download their
free eBooklet, KEYS TO PERSONAL EFFECTIVENESS from
http://www.SuccessNet.org/keys.htm. Free subscriptions,
memberships, books and SuccessMark Cards are available at
http://www.SuccessNet.org
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