Fisher Investments MarketMinder: America’s Love Affair

Originally published by Fisher Investments MarketMinder on: 2/14/2008

In light of today’s amorous celebration, we’d like to examine America’s love affair with being the global economic leader. Like many great love affairs, the initial circumstances were right: The US had the resources, innovation and leadership to claim independence, industrialize, power through World Wars—making other suitors (Britain) look like chump change in comparison.

Although we had our moments of indiscretion (protectionist policies, closed borders), for the most part we had a monogamous relationship with free trade and a willingness to accept a diverse population within our borders. We realized our openness created wealth for ourselves and for the global economy. We flirted with the idea of being an economic leader and the flirtation turned into a full-blown romance with the global economy falling for our promises of economic and political stability . . . .

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