The United States has a very long history of economic prosperity and it seems like most of those strong times occur right after a very scary market downturn like the tech bubble, the housing market bubble and potentially the coronavirus! But to be quite honest, talking about how great America is really makes me really freaking proud to be an American!
I can’t say that I am recommending that you watch, ‘Team America – World Police’ but if you have seen this movie, then chances are you are singing the exact phrase that I sing all day on the Fourth of July, and really just anytime that I’m feeling a little bit patriotic!
But before I go off the rails too far, I’m going to keep us on track because not only do I think economic prosperity is important for all of us to understand as investors, but I think it’s important for us to understand as Americans as well, and if you live in another country then you can easily use the links that I am going to reference to learn more about your country, too!
So first off, what even is economic prosperity? I think that WDM describes it best when they say:
“Economic prosperity is the key element to quality of life and is also necessary for the nation to be competitive in the world economy. As local economies move from production-based to ones based on creativity and innovation, they must grow in ways that strengthen industries, create good jobs and encourage economic investment. To increase wealth and living standards, the economy must promote and sustain diversity, innovation, competition and entrepreneurship.”
What does that really mean? In essence, it’s really meant to be an all-encompassing facet to judge the long-term viability of the economy.
So, what were some of the most prosperous times throughout history for the economy of the US? I’m not going to go into all of them, but CNN Business wrote a really good article highlighting some of the most prosperous times in the US and I just want to hit on some of the highlights![continue reading…]