Why americas economy is the best

First of all, other countries have had so much more room to grow, having experienced war, poverty or both in the recent past. Many of these countries had civil wars, natural disasters and other reasons that would leave more room for growth. Rather than risk the economic chaos and instability, the U. Few in America desire to return to the double-digit inflation of the s, or the hyperinflation of Latin American countries close to that time.

Still, there is room for the United States to improve in growth. Historically the United States averaged a 3. A poor first quarter growth rate generated legitimate fears of a recession, spurred on, no doubt, by trade wars , a government shutdown , and concerns about the yield curve.

America is doing relatively well, keeping the top market spot currently ,and appears to be holding off China for the next several years. More international political cooperation, as well as domestic political teamwork, could be the solution.

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Best online financial advisors. Do I need a financial planner? How much is a financial advisor? Questions to ask a financial advisor. Fee-only vs. Average credit score. The power of the U. Dollar as the world's currency reserve does not end there. It also further gives the American government the choice to impose fines and unilateral sanctions for actions done between other nations.

The status of the U. Dollar as the world's currency reserve remains stable today due to the strength and attractiveness of the United States Treasury security. However there has been speculations in the past that if the U. Dollar continues to slide, the Euro or even the Chinese Yuan might replace it as the world's currency reserve. This is highly doubtful, however, as the Euro use as reserve currency has dropped to The last decade has also shown that two-thirds of the allocated foreign exchange reserves in the world are kept in U.

The petroleum supply in the United States was curtailed by Arab countries during the oil embargo. In , the U. The storage facilities are in the Gulf of Mexico where four locations have deep caverns about 1, meters below the ground, and filled with a total of around The petroleum reserve is crude petroleum, and not yet refined into diesel, gasoline, or kerosene.

However, a 2 million barrel reserve of refined petroleum fuels is located in New Jersey, Rhode Island, and Connecticut. There are future plans to build more underground caverns to offset any more major oil supply disruptions or reduce high oil prices. The current reserve has a target of 1 billion barrels, and even at present capacity is the world's biggest stockpile of petrochemicals and fuel resources.

The American Entrepreneurial Spirit began in Colonial America when the original settlers from England brought with them livestock and seeds to propagate in the New World. This same entrepreneurial spirit today has allowed American business to proliferate internationally and create jobs and help economies worldwide, which also benefits American businesses as the initiator.

Silicon Valley in California is an excellent example that has successfully changed the world today with its new innovations in computer science and communication tools. It has allowed rapid progress in these areas in a few decades that was impossible to conceive at the turn of the 20th Century. Not only has America benefited, but many other countries that have followed the same course have also reaped success.

This has continued to support the U. This American characteristic is evident in many American leaders in the past as in the present. Abraham Lincoln is an excellent example of that trait. Lincoln spent half of his childhood years almost an orphan having lost his mother, brother, and sister to milk poisoning. As a young man, he lost a job and suffered two failures in business.