2010 is the first year of the new decade. And the second decade of the 21st century, one that will see enormous gains in mining shares, steel, in key agricultural and fertilizer stocks, in the new and powerful global Wind Energy industry, and in the Asia-Pacific, European, Russian and South American economic zones.
Brazil, which has a presidential and potentially game-changing presidential election this year, continues as a Latin American economic powerhouse providing investors with wonderful- and also safe- long-term rewards. Other South American countries starting to follow the Brazilian economic model- manufacturing, development, agriculture, exploitation of resources, banking and tourism- can make South America the powerhouse of the new century.
A brand-new heavy-industry contender with the potential to become a world powerhouse economy is India.
A bridge between Hong Kong and Macao is under construction, and mining and mineral exploration in China bears watching. China is less strong than either its leaders or Wall Street would have you believe. Its currency is suspect, its leaders are only grudgingly capitalistic, and not everyone in China is reaping the benefits of its 10% GDP growth rate. But there are stocks in China that are hard to argue with, hard to turn down.
Russia’s economy has not yet fulfilled its potential but a handful of its stocks offer big rewards for investors. Indonesia is recently on Wall Street’s radar, but it has been on ours for two years. Australia’s big mining co’s are consolidating, and its domestic stocks offer opportunities as well.
Europe’s big congloms are providing the world with the engineering expertise the US should be providing, and some superb investment opportunities are presenting themselves.
Africa remains a wild card, a source of untold and yet untapped natural resource and mineral wealth, and the world is flocking to the African doorstep for a piece of the pie. Railroads, agriculture, mining, and perhaps even social stabilization are in Sub-Saharan Africa’s future.
An even newer economic powerhouse may be Islam. Dubai, now a failed poster child, nevertheless does not completely represent Arabic economic stature or serve as a harbinger to its success or Failure. Middle-East and Saharan African Islam, now beginning to experience a new wave of backlash in both the US and Europe, has cash to invest and is increasingly far more than an oil-based economy. A regional wild card is Iran, and we believe the clouds of war are on the far horizons unless Iran’s youthful population leads a revolution against the country’s leaders.
2010 is also the second year of post-collapse America, a nation that began 1773-1776 and ended in 2008, and is caught up now in an internal political and social crisis of polarization that will either lead to a reboot and re-founding, or will usher the former USA, once wealthy powerful and full of certainty and invention, deeper into the downward spiral of Third World Status. Nevertheless, despite a social crisis, joblessness, and withering currency, a double handful of classic brand-name Americana stocks are undervalued and pose outstanding investment opportunities, and selected American stocks are poised for an outstanding year
Still, because this is a year that may offer Americans a bumpy ride, it is a year strongly favoring capital preservation rather than momentum investing or speculation.
Recent years have been very much a stock-picking era. Conventional wisdom is that it has BEEN a stock-picking era since Microsoft and Harley-Davidson went public during the 1980s. A secret: it has ALWAYS been a stock picking era. There is no such thing as a ‘sector’ that you can safely buy into. There are only great well managed and well-positioned companies that are undervalued or which show huge potential for the future.
We at Market Witch are cultural theoreticians with backgrounds in anthropology sociology marketing and advertising. We study contemporary global sociology and economic history and we bring forward issues we believe are relevant and will make our readers tons of money. We don’t study the things analysts think about on Wall Street: no graphs no waves no stochastics no moving averages and no day trading. We watch the changing relative economic positions of nations, we pay attention to the world’s newest products, we find out what’s most in demand both here and abroad. And we invest in those trends and tell our readers exactly what we’re doing.
Most of all, we are using history but we are practicing futurist studies. We enjoy identifying the starts of huge oncoming global trends, shifts in relationships between regional continental and national economies, and finding global economic hotspots that will make our readers big profits a year, two years, or even three years from now.
The world is, in 2010, is a world in full economic and social transition. There is still plenty of time to invest in these transitions. A global ‘commodities super cycle’ that will last at least two decades more is now in its second decade and promises outstanding long-term returns. Steel turns out to be the most important industrial commodity from 2010 onward as a huge infrastructure build out begins in South America, Africa, Indonesia China Canada and the Middle East while repairs rebuilds and modernizations must be made to basic infrastructures in the US and Europe which are now centuries old.
Gold re-monetized in 2007 everywhere in the world but the United States, with its giant federal budget deficits and reliance on the creation of ‘credit’ (that means the creation of “debt”) that masquerades as “wealth,” is still trying to crush the spread of gold as money even as gold’s value ramps steadily higher.
The US will have to changes its ways or its dollar will fail.
The world is headed, long-term, toward an economy based on grams of gold- and likely silver as well- and will likely become a gold-based economy whether the profligate US comes along, or not.
The strongest upcoming economies are not manufacturing nations but Canada, Russia, and Brazil, countries which have untold told stores of natural resource wealth. China’s economy is less strong than either Wall Street or Chinese officials would have you believe.
In keeping with the golden rule dictum ‘whoever has the gold, rules’, the world’s new financial powerhouse may be Islam as Saudi Arabia and other oil baron nations flush with cash from $100.
We believe in, we practice, and in 1995 we probably invented big picture investing.
We study America and Americans. we go out and ask people, talk to people, interview people- all kinds of people- to gain a clear sense of what “stuff” Americans love, what they buy, and what they will do anything to have.
And we study global economic social and political trends to establish a clear sense of what’s going on in the world that affects the equities markets, and where America, its people and its companies fit in that big picture.
The United States has fallen downward into a much-diminished economic position in the world. There still are some 2.5 millionaires in the United States, down about 15% in two years. But in 2003 we began studying the USA as an oncoming Third World Country- one becoming 5% rich 95 % poor, with no Middle Class, badly educated, violent, anti-science, prone to religious primitivism and making political and economic decisions based on ignorance and superstition, with failing health standards, a falling standard of living, no social safety net, and an impoverished powerless debt-ridden citizenry grateful for any jobs at all. That Third World America, jobless in a nation that gave away its manufacturing and industrial base, has come to pass as we enter the new decade. Whether the US remains on this path or turns from it depends on the decisions Americans make. Because of this phenomenon, starting in 2004 we began investing elsewhere, and we are heavily invested in High Net Asset Value foreign stocks.
We only invest in those individual companies which are creating or providing wealth through marketing key products and sought-after basic materials and products. Those remarkable- and often timeless- goods. Those resources and commodities which are most in demand. Sometimes those new key services that Americans, and to a more important extent, the world, clamor for, spend their money on, and cannot live without.
In general we have no faith in the concept of “sectors.” Within any what Wall Street calls a ‘sector’ there might be a two, three, a handful companies of companies worth buying shares in that just happen to be in one business. Trust us to find them. The rest of that ‘sector’ is just a Wall Street fantasy.
We don’t pay much attention to expense-account-lunch conversation like ‘sector rotation’ either because we are busy reading Asian Russian Indonesian and South American newspapers and think tank papers, interviewing gas station owners in San Diego, high school principals in Tulsa, pawnshop proprietors in Tampa, bank managers in Vancouver and occasionally CFOs in San Jose California and company workers in Corning New York.
The result? In 2009 our holdings were up 79%.
In general we don’t invest in mutual funds. We’ve explained why in many previous MW issues. We DO invest in certain key ETFs which are a ‘basket’ of selected shares (two of these are EWZ and SLX) and when we do we suggest you do so too because we are usually at least a year or two years ahead of NYC analysts. And because we study such a wide variety of indicators we can save you hours days even weeks of work.
While we are waiting for something new to happen or for a new direction to unfold, we often “park” money in gold ETFs or very conservative “piggybank” stocks that pay sky-high and reliable dividends and offer a safety premium (see our High Dividend Stocks list in every monthly issue) and then “withdraw” that money to invest in companies we believe are undervalued or have spectacular futures.
2010 is likely to be a year when those high dividend “piggybank” shares turn out to be the best investments of the year, along with gold silver and metals.
We like investing in even numbers, and we like big gains. If we are not going to get 25% or more in a year on a majority of our key picks, what’s the point of doing all this? We are willing to be patient in order to achieve that end. When we make profits, we take the profits to purchase shares of some additional company we like… while keeping the dollar amount of the original investment in that original stock… so we are in effect getting those new shares “for free”. We do the same thing with dividends.
We tend to be a more than a little conservative. In late 2004 and early 05, for example, we were watching RTP at about $88 and we did not buy in until around $112. We’ve done something similar with iron ore shares since 2005. When we first began investing in PCU shares were $52…and that was two or three runups and 2:1 splits ago, plus dividends…so our cost basis per share is around $8. In January 2009, when we began posting Once In A Lifetime stock lists, if you had invested $100k in GGB, you would have bought 17,271 shares @ $5.79. At the end of the year those shares were worth $306,358. We listed a stack of opportunities like that one. Did we buy shares? Of course.
We like “sure things,” not gambles. We love monopolies. Sometimes other investors are jumping into things while we are still watching. Because of our patience however, plus our intense research, we have an 89% success rate: between eight and nine of ten stocks we recommend increase in value.
Also, while our friends at Motley Fool® constantly search for the legendary “ten-bagger” as Motley Fool® founders call them, we go after doubles triples and 2:1 splits, and we actually find those stocks. We invested in Genentech in 1989. We were investing in Harley Davidson in 1990. We invested in Intel in 1995. We were invested in Cisco and QualComm in early 1997 and in SDLI in 1998.
Longtime Market Witch readers who were with us in August of 2002 were buying into Corning at between $1.95 and $2.40 and the profits on that one actually achieved 10X status. And we believe that because of the way we look for companies and at them, additional ones will became apparent to us- and to you- to in the future.
Bear in mind that 10X stocks are rare and happen two or three times a decade, if that. Much more common for us is to “roll doubles”- to buy PCU at $53, watch it run to $108, split 2:1 and begin running up again. Ditto with NVDA, VALE, AAUK, BHP, MT, and many others.
We sometimes watch a company, a market or an industry or a situation for a year or more before we say yes to an investment. We don’t want to invest in fads that will disappear after their “fifteen minutes of fame.” We want instead to back upcoming institutions-in-the-making and icons-to-be. We occasionally make short-term mistakes and when we do it usually has to do not with a product but with a corrupt or incompetent management, not with a product.
We’re not always right. But an 89% success rate on our Strong Buy Lists means most of the time we are.
We are crazy about “monopolies”- we love companies which field such a wonderful product that they own their market, have huge market share, and have no serious competition. We also then watch for rivals with something better to offer. We believe in momentum investing and we practice it, too, when we feel it’s safe, but only in companies we’re sure are creating products that capture America’s- or better yet, the world’s- heart, imagination, and wallet.
After fifteen years of producing Market Witch and getting feedback from readers, we believe the best way to USE Market Witch is to read it regularly for a year or more and to watch our consecutive monthly STRONG BUY lists which represents what we believe are unusual or even remarkable opportunities, and also watch what WE buy.
We tell our readers what we’re buying every month. And though we don’t believe it necessarily matters that you buy shares within minutes or hours after we do, we provide free updates when we think an immediate buy is important. But for the most part, we buy shares and hold them for several months-or longer- to make the kind of profits we want.
Integrate our recommendations with your own portfolio or use one of the model portfolios we publish a few times a year, or create your own model portfolio from our work and then monitor it until you’re comfortable with what we’re doing and how we’re doing it. You can do it, too!
IN ADDITION, reading Market Witch regularly will help you build and develop a perspective toward investing that you will not find anywhere else and which to some extent you can learn to duplicate on your own if you use the Internet website links we provide in each issue. If a stock is on our STRONG BUY lists you really should do yourself a favor, and do your own due diligence on the company, and consider buying shares. Because it means WE either own shares ourselves or we would if we had additional cash.
Here is a PREVIEW of 2010 and beyond for Market Witch readers plus some of 2010’s oncoming issues and concerns. Here are investment subjects and trends you should be aware of:
-For several years we have posted a Fair Value and a Current Value price for gold in our commodities lists. The difference between the two has for five years been hundreds of dollars. For example gold was selling @ $850/oz while the Fair Value of gold was around $1658. Late in 2009, the Fair Value of gold fell to around $1435 (this Fair Value number hasn’t fallen in the twenty or so years we’ve paid attention) because so much gold is being mined worldwide, while the Current Value of gold reached 1200. This tells us gold is headed, in dollar terms, to around 1400 as these two numbers meet.
Central Banks are trying to stop the rise of gold and especially to keep currencies from being re-pegged to a gold & silver standard. So are the United States Fed and Treasury because they fear the huge federal debt will have to be paid in more expensive rather than less expensive dollars.Which is impossible. It’s too late: paper currencies not tied to something tangible- gold, silver, land- are on the way out. Most importantly the US dollar’s reign as the global reserve currency is over.
-The US economy is in much worse- irreparable on the path we’re following now- trouble than anyone in authority is willing to admit. A dollar destroyed by huge trade deficits, an out-of-control credit-based creation of “money” (rather than working to create wealth) plus a federal budget deficit that grows at the reported rate of more than a million dollars a minute means Weimar Republic- era inflation for a falling dollar while Americans continue to lose jobs, homes, and their ability to pay credit card debts the grocery and the gas station. It’s a recipe for disaster, and it can’t be fixed by creating federal “jobs” like census bureau jobs.
-The world’s strongest economies are Canada, Brazil, Australia, Russia, and China. A quick study will show each of these countries are creating wealth not “money” (debt) via exploitation of resources: gold iron ore gas oil farm crops and so forth.
Gold exports have propelled Canada to a trade surplus. Canada need a much larger population to become a world force, but has resources reserves second to none, including fresh water.
China, whose trade surplus and 10% GDP growth rate is based on global exports (of mostly shoddy products) is beginning to turn to mining or metals and minerals, and may become truly wealthy, though it will not achieve a broad prosperous middle class because the population is too large. We believe the Chinese economy is more fragile and vulnerable than most American ‘experts’ realize, because China’s still-Marxist government is at odds with its progressive, ambitious, well educated and increasingly prosperous people.
Brazil’s economic model- mining, agriculture, tourism, manufacturing, and banking- has made it a beacon to all of Latin America, and any South American nation following this model is bound to succeed.
- The “Commodities Supercycle” has restarted after a brief- 18 month- respite and in spite of the ‘liquidity’ crisis created by corrupt American banking/landing practices. And this commodities demand, which we expect to rage on all through the TwentyTens, will create new fortunes for many investors. Global iron ore prices will edge up a bit more but steel will become considerably more expensive because of demand. Copper will head back toward $4, aluminum toward $1.50, platinum to $1600, silver to the mid $20s, while wheat soybeans rice sugar coffee etc will become more expensive as the world population moves toward 8 billion (not a sustainable human population level). Also set to rise in price: arable farmland. We expect oil to stay in the 80 range, kept low by falling US demand but pressured by increasing demand from India China and Indonesia.
-America is formerly the world’s greatest consumer economy (70+ per cent of the USA’s GDP has to do with American consumers “buying stuff”) but is no longer able to support the world’s economies by buying their exports. A New Class War that began as the US became a nation of The Few rich and superrich and The Many poor, and which resulted in the 08 election of Obama, now has morphed into an enormous social uprising by the Former Middle Class, who are demanding a nation and a government that conforms to their beliefs and values. This is a mass movement, and it is the stuff of revolution.
-All you need to know about American Consumerism this year is: Smartphones and Laptops. “Social Networking” has been utterly co-opted now by ad agencies and marketing firms (and by the Pentagon). Americans may go back to talking on their telephones instead of text-messaging. They may even begin speaking face-to-face.
-The role of Superpower is an expensive one to maintain. The USA’s internal strife and polarization clashes with its global military aspirations. The US will have to reinstate a draft in order to enforce its policies and actions in the Islamic world unless a war causes mass enlistment. A more important issue is how the US govt, now essentially bankrupt, will continue to be able to support its military.
-The scramble for global resources means Africa, with its enormous natural resource wealth and mostly unstable politics, will continue to be a magnet of activity as other nations vie for control of a continent that is literally up for grabs. Africa is becoming both an exploration hotspot in a world desperate for its natural resources, and a new source of cheap labor if its nations can be politically stabilized. Recently the most successful exploiter of Africa is China, somewhat corrupt itself and making resource deals with corrupt unstable governments in Africa. But China is becoming interested too in its own resources, and also in its own giant projects, like the Hong-Kong-Macao Bridge. Expect much more European activity in Africa these next few years.
-We’ve stayed away from “Americana” stocks for several years- those legendary iconic brand-name American companies with decades-old or even century-old product lines/services and global clout- Coca Cola, Tiffany’s, Pepsi, Smucker’s, Disney, and others. This year very likely spells the return of those Americana stocks- and the return of their share prices. That said, because the US govt will likely have a deficit of $1.5 trillion this year, and a total debt of above $12 trillion, we recommend that no more than 20% of your holdings be in American stocks. If ever there is a year the US defaults on its T-bills, this may be it.
-Watch for a rather dramatic separation in the US between the Equities Markets and their economy and the American people and theirs. We may see a 12500 DOW and a 1300 S&P, and correspondingly a 12-13% unemployment rate.
An additional global most-sought-after: WATER. We’ve talked about this for more than a decade: wars may be fought over water. The US can become energy- independent via wind-generated electricity and biomass transportation and industrial fuels. But unpolluted fresh water is fast becoming rare (The US, Brazil, Canada and Russia have most of it) and valuable and unless massive desalination industries are begun in the decade we are entering now, there will be trouble. Look for Corning (GLW) to begin manufacturing substrate materials for water and sewage filtration systems as well as diesel engine ‘clean-air’ products. A stack of other ‘water-issue’ companies bear watching.
- A new global optical cable/bandwidth buildout, spanning the Pacific and connecting Asia and Indonesia, has begun. An optical-cable buildout will begin in Africa this coming decade.
-America’s manufacturing base has been enormously damaged. Traditionally, America always has been able to pull itself up by its bootstraps when new ideas new inventions and new technologies, often discovered and created during wartime and funded via a combination of government and military interests plus civilian R&D, then spill over in peacetime into the consumer marketplace. Spawning new consumer products, new technologies that have broad consumer application, and creating new American industries. Which in turn brings Americans the untold wealth everybody became used to for half a century. We believe this may happen again. But it also may not happen at all. Because the USA’s public education system has been badly damaged over decades of dumbing down.
-The potential for a hot war, large or small, with areas of Islam in 2010 depends upon (A) whether there are any more ‘terrorist’ incidents inside the USA (Ft Hood was an especially bad one) and (B) upon whether the West chooses to confront Iran over its nuclear weaponry ambitions. We Americans are not really in World War III yet, even though Islam already has declared it. But Pakistan already has more than sixty nuclear weapons and Pakistan is a “nation” of warlords and militarist would-be dictators without a stable government. So while we are in less danger of war there is increased danger a nuclear ‘event.’ A mitigating factor may be that oil-rich Islam, rather than bombing the United States, will simply continue to buy us.
Here is a list of the top ten largest countries in the world, by area in square miles:
1. Russia 6,592,850 square miles
2. Canada 3,855,101
3. United States 3,794,083
4. China 3,705,405
5. Brazil 3,300,169
6. Australia 2,969,906
7. India 1,269, 211
8. Argentina 1,073,518
9. Kazakhstan 1,049, 155
10. Sudan 967,500
This is 19th century not 21st century thinking.
View Islam not as a series of small “tribal” nations but rather as a single unified force (internal Sunni/Shi’ite factionalism is irrelevant to Islamic expansionism) intent upon (a) bringing down the United States and (b) creating a world under Islam and Islamic sharia law.
These “nations” of Islam are often “fantasy” nations, many of them arbitrarily cobbled together from the turfs of nomadic tribes by the British Crown during the early days of the 20th century. Let’s tally them up, West to east, to create ISLAM: Morocco, Algeria, Libya, Egypt, Saudi Arabia, Yemen, Oman Syria, Jordan, Turkey, Iraq, Iran, Afghanistan, Pakistan.
Now the list of the world’s ten largest countries looks like this:
Etcetera. If we add some of the wilder and more marginal and underdeveloped “nations” of Islam like Sudan, Kazakhstan etc, the two largest countries in the world are Russia and Islam, a dead heat.
Many of these “nations” of Islam have enormous wealth in a broad spectrum of natural resources, not just oil: resources that are in short supply and gaining in value weekly. TWO of the world’s very strongest economies, Iran and Saudi Arabia, are ISLAMIC. A THIRD one, Afghanistan, has the world’s largest and most financially successful Global Outlaw Economy (poppies/opium/heroin) on earth.
Islam today is a backward, misogynistic medieval and violent culture, though this was not always true. But it may be Islam’s destiny to rule the 21st century through immigration and refusal to assimilate while gaining population base with which to simply destroy the cultures of host countries.
What stands between Islam and its goal?
The USA. And we are 6% of the world population.
And Western Europe, where a culture war has begun between Islam and Holland, the UK, France, and most recently Switzerland.
Europe is in just as much trouble with Islam as we are.
Key traditional European cultures are being challenged and damaged by immigrants who have no intention of assimilating, but are in fact intent on transforming Western Europe into an Islamic land under sharia. France, Germany, Holland (Dutch politico Geert Wilders, who has compared the Koran to Mein Kampf, was named Holland’s 2007 person of the year in a nationwide media poll) and Switzerland all are becoming more aggressive and less tolerant of Islamic residents than we are as we wave the banner of ‘diversity.’
The American presence in Iraq and Afghanistan has dramatically strengthened Islamic Fascism’s support base against us all over the Islamic world. But American presence in these regions presents a deterrent to Iran, and a cautionary flag to Pakistan.
Islam was once, centuries ago, the world’s center of knowledge and renaissance- math languages engineering navigation commerce etc- but degenerated into a stone-age culture with money- and also with nuclear weapons expertise sourced by blackmarket theft of information. Islam will have to be contained/neutralized ad rid of nuclear weapons nuclear ambitions and its turf-hungry expansionist ideology, much as the stone-age native-Americans were deconstructed in north America as a culture to make way for what became the United States.
In a decade or two, Islam may very well become a source of cheap specialized labor or it may become a banking and high-tech manufacturing powerhouse. Or it could return to its nomadic, roots. Or it could rule much of the world, especially Europe.
Much depends on Iran (which is Persian, not “Arab”) but do not count on Iran being deterred from its goal of deliverable nuclear weapons.
EVs: In Showrooms Now: this is the year electric cars show up in dealer showrooms…including the Chevrolet Volt. It’s the start of a new era in personal transportation.
- They Call the Wind Opportunity: in recent years, much of “green” energy activity has centered around ethanol and biodiesel production, efforts toward solar electricity production (photovoltaic) and the potential for wind-farm based electricity grids. Big Oil has been actively hostile toward ethanol-from-corn production in the US, has spent millions discrediting it, and has for all intents and purposed crushed it. Biomass fuels are a decade-or much more- away. Big oil companies (especially Exxon) have been investing in the founding of an oil-from-algae renewable energy that promises to be highly cost-effective but an oil-from-algae infrastructure that can provide mass quantities of fuel is decades away.
In late 2009, however windpower broke out from the field. It is the chosen “green” alternative-energy choice, and you are about to see wind generators become a huge global industry and make many investors wealthy. Windfarms are preferable to solar electricity generation because the equipment necessary to do solar power is highly technical, quite fragile, and expensive to produce (clean-rooms etc) while windfarm-generated electricity relies on engineering technology and basic science that is more than a century old. A windpower-generator is essentially a big magneto with an airplane propeller on it. The technology is sturdy, simple to understand and not all that hard for industrial societies to manufacture and lends itself easily to replication. We’ve entered the decade of windpower and wind-farms.
- Though mass discretionary spending has ended in a much more impoverished USA, those Americans who are “well-off” “rich” etc have tired of keeping a low profile and exercising financial restraint and moderation in their habits. Look for the return of decadence this year.
We began our Market Witch efforts fifteen years ago studying the American product mainstream and pop culture, and investing in America and American companies and products on that basis…Barbie® dolls, Harleys, Pentiums, iPods, Oreos…but a decade ago, as the US lost economic clout and began to become a Third World country, Market Witch moved to a global perspective. And we go with the world’s strongest economies and their products. We carefully invest in China, South America, Russia, and very recently Indonesia, but we often do it through North American or European companies that have operations in these places, or via ETFs.
In recent years, this has NOT been an America we have been pleased to present in these pages. In addition to our own failures, and even in addition to the USA’s recent inclusive gestures toward other parts if the world, much of the world still despises us, is jealous of us, envies us, and wants to see us diminished, brought down, destroyed.
This attitude also is a popular one among many Americans themselves: people who do not understand what they have placed at risk. And what has been lost.
The United States: 1773- 2008, RIP. The United States has dematerialized and has become a ghost or a spirit or a memory, or more accurately a hologram: something intangible and visible but no longer real. And a mythos that can be spread throughout the world as an ideal, something like Santa Claus or Ancient Greece. It may be too late to prevent this. But it also still may be our choice to be able to resurrect the US if enough Americans can agree to do it or can prevail over those who won’t. Over the next three years we will likely find out if America is salvageable, and can be resurrected. Or not.
The America of the 20th century has receded into history…but as always, we expect that some new idea that originates here in the US (not in China, which steals its technology from our patents, and buys American icons (like IBM’s ThinkPad®) ( and not in Islam, which does not have the technology to build a flashlight unless that technology has nuclear weapons potential and is purchased on the black market or downloaded from an American website) will spawn a new American technology and a new American industrial base. And that the US may regain its preeminent position as the world’s cradle of invention. Ben Franklin said: “An investment in knowledge always pays the best interest.” Our country would do well to remember these words.