The United States of America is one of the World’s most developed countries. With sister countries Canada and Mexico also thriving strongly, the country is financially and economically set for growth for decades to come. Some factors that contributed to America’s development include strong legislation, slave trade, mandatory mass education, strong leaders and strong healthcare systems. With a population of over 300 million residents, the country has millions of businesses, startups, corporations and entrepreneurs. Fortune 500 Businesses alone in 2017, generated $12.8 trillion in revenues, $1.0 trillion in profits and $21.6 trillion in market value. The top 500 companies in America also employ over 28 million people worldwide. America is a money-making economy. America is also greatly a money spending economy. Here’s why:
- On Making Money: With a very low unemployment rate of less than 4%, America has jobs! And has lots of people to fill up the positions. New immigrants into the country can walk into establishments and find jobs on the spot. There are also government institutions to help job seekers find employment. Infact, at some point in the 1990s, America needed more people to fill up jobs and started a lottery visa program to encourage more immigrants into the country. Employees earn income – there’s a minimum wage and many companies in America offer annual bonuses.
- On Spending Money: America is well developed with exciting cities such as New York, Las Vegas and Orlando, there’s a lot to spend money on. Income generated can be easily spent taking vacations or enjoying some of the great entertainment the country offers from cinemas to nightlife to theme parks. Road trips are lots of fun as each state in America is connected by road. You can’t get bored, you can only run out of money.
- On Making Money: America has bright minds, The educational system has poured out millions of geniuses inventing great products loved around the world from fashion to food to gadgets. Many of these products are outsourced to be produced in China but the idea and ownership remains American. As of 2018, President Donald Trump with his “America First” movement seeks to encourage more production in America and less outsourcing. Regardless, these companies will remain profitable as they have mastered exportation sales in today’s globalization era.
- On Spending Money: America is cluttered, or well, well developed, with lots of shops from great eateries to fine dinning to fashion and beauty malls. Oh and the country now has thousands of online malls at the click of a button with a phone anywhere you are! There’s too much to spend money on in America that if you want to be a billionaire, you must spend frugally. No wonder Warren Buffet acclaimed he prefers to live in the same bungalow he has owned for decades than to move into the world’s biggest mansion of which he has the money to buy. It is easy to want to own the biggest mansion but it comes with lots of expenses from security to landscaping to employees to maintenance costs and much more.
- On Spending Money :):Bills Bill Bills! A country with such vast developments comes with bills to sustain the developments. From taxes to electricity to rent or mortgage charges. Almost every citizen in America gets at least 5 bills in the mail every month.