Doug Casey on two reasons for optimism

There are reasons for optimism, of course, and at least two of them make sense.

The first is that every individual wants to improve his economic status. Many (but by no means all) of them will intuit that the surest way to do so is to produce more than they consume and save the difference. That creates capital, which can be invested in or loaned to productive enterprises. But what if outside forces make that impossible, or at least much harder than it should be?

The second reason for optimism is the development of technology – which is the ability to manipulate the material world to suit our desires. Scientists and engineers develop technology, and that also adds to the supply of capital. The more complex technology becomes, the more outside capital is required. But what if sufficient capital isn’t generated by individuals and businesses to fund further technological advances?

~ Doug Casey, "How Fascism Comes to America," LewRockwell.com, August 20, 2020

Kevin Duffy: Is this country doomed?

No, the country is not doomed. But we clearly have "issues." If you want real problems, go to Venezuela. The amount of money going into private R&D around the world is at record levels. China was a basket case in 1980 with just 1% of the world's exports; now it's 13% and building a viable VC industry. The world's vital signs keep improving: life expectancy, infant mortality, homicide rates, etc. In the 1960s, 50 out of every 100,000 global citizens died annually from famine; by the 1990s, that number was 2.6.

This is all happening despite an epidemic of economic illiteracy and the resulting government meddling in the economy. It's amazing how the free market can still operate with all of the interference. Imagine the human potential if man figures this out! I am a long-term optimist on the human experiment, but that doesn't mean there won't be plenty of stumbles along the way.

~ Kevin Duffy, Facebook post, May 9, 2019