5 Years On The USA Has Not Solved One Of Its 14 Most Pressing Problems

Wednesday, August 11, 2010

In June 2005 I had summed up the 14 most pressing problems of the USA in this post. Reading this list again I am quite shocked to see that all these problems are still around. The only thing that has changed is the name of the president.
Here is the list from 2005 (annotations as of today in brackets):

  1. Trade deficit
  2. Budget deficit caused by a growing government participation in the economy
  3. Current account deficit
  4. Employment
  5. Oil and energy induced inflation
  6. Education
  7. The nation will become a net food importer for the first time in history (Check MarketSkeptics.com)
  8. Two wars (Iraq, Afghanistan) without an exit strategy (add Pakistan)
  9. A changing political climate towards the Bush (now Obama) administration
  10. Housing bubble (now a prolonged bust)
  11. Interest rate conundrum (flattening yield curve and a complete lack of risk premiums)
  12. Consumer indebtedness
  13. Long-term weakness of the currency (in relation to gold)
  14. Widening income gap
Obama's "We are change" has obviously gone nowhere.

1 comment

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