Meeting With Dr. Michael Cox, Former Federal Reserve Chief Economist

US Wealth McCarthy |

On Wednesday, May 19, we had the good fortune to hear a presentation by Dr. Michael Cox, former Federal Reserve Chief Economist.

Dr. Cox’s presentation focused on the cyclical nature of politics and economies and on U.S. politics and economy in particular. The current state of the economy and the appeal of more government is an echo of what has occurred in the U.S. since our inception as a country.

Just as the steam engine, electricity and technology were responsible for previous increases in the economic growth and increases in the markets, the entrepreneurial nature of Americans is already developing the next great wave of growth.

We are in a “down cycle” now but the seeds for the future growth of the economy and the markets are in development. We just cannot allow ourselves to be too pessimistic and accept easy “solutions” that will actually inhibit these new industries from helping us all out.