America, the Great

February / March 2012 - Navy
By Aaron Bresnahan

Over the past few years, the media headlines have been consistently focused on the flagging economy. Employment remains high. Retail sales figures are lower than expected. The stock market remains stagnant, and the European banking crisis seems never to get resolved. Most wonder whether the troubles will ever end.

Despite the negative headlines, there is still a lot to be positive about. The United States still has the world’s largest economy. The US still has the largest and most powerful military. The US maintains the highest level of investment in technology and receives the largest number of patent assignments. The US leads the world in many industries. I have even heard that some multinationals are relocating manufacturing footprints back in the US to take advantage of the higher productivity rates of American workers. The university system continues to draw thousands from around the world, and US medical breakthroughs and innovations remain the envy of the world.

There is no reason why America should be viewed as a country in decline as much as simply a country competing in an ever-changing world. Competitive situations will always have their share of ebbs-and-flows, where relative positions can change upwards or downwards for any number of reasons, when viewed through a single snapshot in time. The key for a successful market leader to remember is that it will always have a target on its back. Knowing this, it has to find ways to remain competitive, facilitate growth and innovation, and make the hard decisions to do what is necessary. The vision has to be focused on the long-term and has to keep the national best interest constantly in the crosshairs. Some global players will take advantage of short-term windows of opportunity, but the market leader has to take a sustainable view towards its actions and its national agenda.

America still has all the ingredients in place to remain in the top position. In many ways, there is simply a crisis in confidence. It could be that the yeast is already in the dough, and it is just a short matter of time before the economy starts to rise at a more recognizable and substantial level. What we need, though, is a bit of positive press. We need a dose of inspiration and boldness. To regain confidence, we have to believe that better times and prospects can be achieved through a bit of hard work and determination.

Let me be clear. I’m not advocating a “don’t worry, be happy” approach. There are certainly quite a few challenges still to be overcome. However, we have to be much more positive in our outlook and embrace the fact that better days are within our grasp. Confidence in the economy gets people willing to make investments and purchases. Confidence in the nation fosters growth and risk-taking.

America is the greatest and most powerful nation ever to exist. America has the resources and capability to sustain its position. Let’s believe!