Nikola

Bailout 1.1 Passed. Will We Have to Go Back to the Well for v2.0?

US makes lots of things. It's the third largest exporter in the world. China passed it to be #2 only a year or two ago.

Problem is that many of the US exports are in technology, and US hasn't been innovating lately. Solar? Mostly Chinese companies. Stem cell? You guessed it. While the US won't have a space vehicle in a few years, the Chinese are making their first space walks. Autos were a big American export. Well, autos are moving towards electric. Guess who's leading in that market. It's not Tesla Motors.

Unless the US starts innovating (and that means tax breaks, investment in education, and smart immigration) it really will just be a Ponzi scheme, and that won't last.

Interestingly, this problem has nothing to do with the current crises. Except that it has opened a window of opportunity to see the problem clearly and act. Of course, very likely the chance will be missed. Both presidential candidates are quite uninspiring in this respect, and they are supposed to set the tone.