Luminaries Express Optimism About US Economic Might

Friday, 04 May 2012 06:40 AM

By Dan Weil

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Several heavyweights in economic affairs say the United States isn’t heading off into the sunset just yet. They tell Yahoo several reasons why they’re still optimistic about the country’s economic prowess.

Niall Ferguson, a history professor at Harvard says, "The thing that makes me optimistic about the United States is technology and the ability of the United States still to be at the cutting edge. . . . That is a Silicon Valley story."

T. Boone Pickens, a legendary energy businessman, says, "It's energy. Today the United States has the cheapest energy in the world -- oil, gas, and gasoline."

Mitch Daniels, Republican governor of Indiana, says, "The resilience of the American economy over time. We still give birth to more new businesses than other places. We still have a core of innovation."

Richard Fisher, president of the Dallas Federal Reserve Bank, says, "We are growing our population. We have an enormous Hispanic population that's coming in. We are still the magnet for anybody that wants to work hard in the world. We create, we innovate, and we are masters of creative destruction. As long as government won't interfere with that adjustment, and lets the American genius go to work, we'll win."

Michael Milken, the legendary financier whose institute hosted the conference where these remarks were made, also expressed optimism about the U.S., citing the strength of the financial services, healthcare and energy sectors, AdvisorOne.com reports.




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