US has historically pulled through the sort of challenges that African countries are unable to such as civil war and lack of vision. US was able to settle its civil war, develop its institutions, and create democracy.
Facts:
1. American debt is not like that of developing countries but a chunk of it is a revenue-generation strategy such as global sales of T-bonds. This is how US earns money.
Treasury bonds are part of the larger category of U.S. sovereign debt known collectively as treasuries, which are typically regarded as virtually risk-free since they are backed by the U.S. government's ability to tax its citizens.
A treasury bond is a marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years and which pays periodic interest payments.
www.investopedia.com
Do you see US seeking IMF bailout package or take loans from another country for infrastructure development like a typical developing country? No, US has hard cash to manage its affairs and meet its debt obligations.
2. US is developing its industrial capability.
There was a time when US was buying oil from the Middle East to meet its energy needs. This was not sustainable so American Shale Revolution happened and US is now producing as well as exporting oil to other countries.
The “Shale Revolution” refers to the combination of hydraulic fracturing and horizontal drilling that enabled the United States to significantly increase its production of oil and natural gas, particularly from tight oil formations, which now…
www.strausscenter.org
US is now focused on reviving its semiconductor industry with Biden administration's CHIPS and Science Act to reduce its reliance on China in this matter.
In President Biden’s first year in office, the Biden-Harris Administration has implemented an industrial strategy to revitalize domestic manufacturing, create good-paying American jobs, strengthen American supply chains, and accelerate the industries of the future. These policies have spurred an...
www.whitehouse.gov
www.semiconductors.org
Semiconducter industry will create numerous jobs in US mainland in the years to come.
3. American unemployment level is 3.6%. This is not an alarming statistic because people get fired or their contracts come to end from time-to-time.
4. Environmental threat like Hurricane Katrina would have made lands of a developing country inhabitable, but US Louisiana will recover and have adopted measures to prevent flooding. These measures paid off in the face of Hurricane Ida that came 16 years later, this is a remarkable shift from earlier situation and vulnerability.
These are the lessons that WE need to learn from the US but look at your post. Some on PDF want you to believe that the US is finished but this is wishful thinking.
Allah Almighty has warned those who are arrogant and corrupt that this culture is not sustainable in Surah al-Isra.
Nigeria Corruption Perception Index Rank = 150 / 180
Nigeria Corruption Perception Index Score = 24 / 100
Find out more about corruption in Nigeria: Latest news, Corruption Perceptions Index score & local chapter’s contact information.
www.transparency.org
Nigeria Corruption Perception Index Rank = 24 / 180
Nigeria Corruption Perception Index Score = 69 / 100
Find out more about corruption in United States: Latest news, Corruption Perceptions Index score & local chapter’s contact information.
www.transparency.org
Which country is doing better in all metrics? Nigeria or US?
But look at the arrogance of Nigerian leadership. Shame.
concernusa.org
