What was depicted as the great recession with the potential to destroy the economic system of the United States, has turned out to simply be the collapse of another bubble with significant implications, but certainly not a great depression.
The collapse of the real estate bubble and the panic of 2008-2009 will go down as a painful period in economic history, but as always, it was not the country destroying event depicted by some.
I certainly don't want to minimize the pain felt by so many and it is clear that the next few years will determine if the country can stop looking for the next big thing or settle down into a pattern of long term growth. There is tremendous opportunity for real growth and prosperity both in the United States and the rest of the world as technological and scientific improvements improve the standard of living for all. The questions facing everyone, is can we harness these improvements and stop some of the short sided thinking that has been so costly.
If you simply think for a few minutes, there is, within the United States more than enough food, space, natural resources and energy to assure everyone here a secure lifestyle. What is not so certain is if we can be as wasteful as we have been and still thrive.
Further, the growing prosperity of many emerging markets and the possibility of further development will simply further provide opportunity. It is making wise choices and developing clean energy and a healthy attitude towards our world that will determine the future.
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