Given all of the gloomy economic news that seems to dominate our lives, a bit of perspective from two prominent thinkers about where we are going might help to reduce your stress level.
The first comes from Charles Dumas. A British analyst, his forthcoming book "The American Phoenix" details how Chinese inflation and European intransigence will take the whole world down in 2012.
However, for those of us in America, we will rise from the ashes starting in 2013 and once again reassert ourselves as the dominant engine of economic growth and prosperity.
This is due to America's willingness to confront our problems head-on, as we always do AND are currently undertaking. While the last several years have been extremely painful for America, the structural improvements we have embarked upon will finally start to pay off.
This view is held also by Martin Feldstein, an American, whose seminal article in 2006- "The Return of Saving"- accurately laid out what would follow.
Feldstein believes that the necessary deleveraging of debt from the U.S. economy will ultimately make us leaner and stronger than ever before; poising America, once again, as the catalyst for global economic expansion.
So, hang in there. All is not lost. One of the biggest booms in American history will soon be upon us.