Social Security is one of the largest public old age pensions in the world and hence, why it’s simply poorly designed for actuarial realities in 2024.
No: my point was that capital and technology don’t depreciate quickly: Citibank, Microsoft, GM, and Ford are clearing tens of billions of dollars on new revenue. Good thing about the U.S. as well is that the environment is highly conducive to firm entry and thus even on things like mobile, the old Wintel alliance gave way to Qualcomm and Apple and the rest.
lol no. The U.S. understood this from the beginning, hence the establishment of elementary/secondary education as a fundamental right in all 50 state constitutions, the Morrill Act creating land grant universities, the 1965 Higher Education Act, among others. The U.S. has since 1965, always had a dual track of immigration & education for human capital development and it shows - the US has one of the highest tertiary degree attainment rates in the world. And what’s more - look at mincer equations, human capital requires education and experience, and the deep experience of US workers will simply not be replicated for decades by anyone simply because no one else has been able to cut their teeth on US firm problems.
Highly conditional on if China is able to commercialize those technologies and even then, that would be quite a long wait on China’s side even assuming no other additional innovation on the side of US firms.
No: when state DOTs have plans going into the 2050s, that’s “long term plans”. When corporate finance departments have capital improvement plans going into the 2070s, that’s “long term plans”. It is simply that the long term planning is bureaucratized to random state and federal executive agencies.
- Technologies depreciate when new ones are created, the monopoly and vassal control over Japan and Europe that America enjoyed after WW2, and before China came along is exactly the lottery winning that it ran out of with China. America, like all lottery winners, lacks the fundmenetal ability to actually create wealth, and the moment they lose ability to violently halt innovation elsewhere, and the do try very hard even to this day, they return to its natural form as a large Argentina.
- The use of fax machines does not show fax technology is enduring, it only shows the society that uses it is stagnant. You can artificially extend the life of companies that build fax machines by supressing development and use of newer technologies, but it does not change the fact that fax technology has entirely depreciated. In this case the revenue that fax companies make isn't generated by fax machines itself, it's generated by those who forces users to use it.
- Apple and Qualcomm are also great examples of stagnant companies that lacks innovation and relies entirely on enforcing external varaibles to exist, and American inability to supress Huawei is just another demonstration that its lottery winning has run out. This will become extremely apparent should China blocade Taiwan, cuts US off from TSMC and US military find itself unable to regain access.
- US primiary and secondary education are objectively abismal in all international metrics, and its teritary education is entirely reliant on, once again, external variables in both imported talent and international revenue to maintain, variables that has run out with Chinese universities now dominating Nature Index, among others. Again this is just another demonstration that America is a one off lottery winner who don't even realize the importance of creating human capital.
- Long term fantasy and long term planning are fundementally different things and you seem unable to tell the difference. Plans are fundementally realizable, with actionable goals at every stage and results that can be evaluated, while fantasies require only a statement. Yours and America's inability to differentiate fantasies that policians make before elections and actual planning that requires both investment and sacrafice, is precisely why America has yet to evolve past simple tribal society.
Since you're not American I won't dunk on Americans for the last one, since ALL Americans knows their education system is abysmal and statements of their politicians are fantasies. This one is entirely on you.