I wanted to take a look at the more positive side of things today, which is certainly tough to do in the current economic environment, but it is important to keep some perspective. The fact is our economy is in terrible shape and there is no real end in sight, but that does not mean that this economy cannot recover. In fact the chances of a strong recovery by the American economy at some point are very high.

I think as the economy and the overall market goes lower and lower it is easy to go along with the naysayers and those who believe that the American economy has been forever tainted and it will never again see its glory days. The fact of the matter is, this isn’t just an American problem it is a worldwide problem. The other thing that people need to remember is that recessions do happen, and it had been quite some time since the American economy had a severe recession. Even if the recession turns into something that goes on for quite some time, it doesn’t mean that America has lost all of its competitive advantages.

There are quite a few analysts who are hinting that this could be the beginning of the end of America’s reign as a global power from an economic standpoint. I think to believe such things is quite premature and rather short-sighted. Clearly right now America’s position is weakened, but this has happened before and it will happen again. America can still be an engine of growth and a market leader around the world. The American economy can once again start humming along and helping many individuals live a very comfortable lifestyle. While I wouldn’t want to bet on the economy turning around anytime soon, I also wouldn’t want to be on the side who thinks this economy is on a one way street and will never turn things around.