Tags: Blankfein | bullish | America | investment

Goldman CEO Blankfein Bullish on Investment in America

By    |   Thursday, 19 July 2012 07:48 AM

When a big investor or corporate CEO asks Lloyd Blankfein where to invest, the Goldman Sachs chief executive has a simple answer: right here.

“The United States remains as attractive as ever,” he writes in Politico. “And it would be even more attractive if it can make some short-term progress in a few key areas.”

As for the pluses, first, our nation benefits from high birth rates and immigration,” Blankfein says. “The U.S. remains a magnet for many of the smartest, most ambitious people in the world.”

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Second, we’re supplying more of our own energy and adopting clean technologies. Third, the government acted strongly to ease the 2008-09 financial crisis, and the financial sector is returning to health.

Finally, U.S. companies have restructured more thoroughly than others in the past four years.

On the minus side, the government still has a $16 trillion debt. Blankfein favors using the Simpson-Bowles commission recommendations as a basis for fiscal reform.

Second, the government must “make it easier for people to legally immigrate,” he writes. Third, the United States must invest more in infrastructure. And finally, the political parties must learn how to compromise.

Many experts are less optimistic than Blankfein.

The U.S. economy is headed for a meltdown worse than the 2007-2009 recession, says Peter Schiff, CEO of Euro Pacific Capital.

"We've got a much bigger collapse coming," he tells Yahoo. "It's like what you're seeing in Europe right now, only worse."

Editor's Note: Obama Donor Banned This Video But You Can Watch it Here

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Thursday, 19 July 2012 07:48 AM
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