How can america be prosperous continuously from the view of economics?

Question

How can america be prosperous continuously from the view of economics?

Answer 1

its not, open a newspaper or a news website from an other country and look at how many banks have gone bankrupt in the last year and how fast the debt is growing to more that the country's total annual income. There is an appearance of wealth because there is a huge gap between the rich and the poor and showing the poor on tv or in magazines does not sell.

Also, there is a strong spending culture, the average debt of an American is of 40 000$ It is one of the countries where the economy relies the most on consumer purchases.

But ya, if you look at the right people there is allot of wealth, but this is true of any country.

Oh, and I forgot, there is also the fact that when things were going well and the banks were still hiding that they were making horribly bad choices, many countries (such as china) invested thousands if not millions of billions of dollars and no one wants to see their money go (especially in those sums) so they are trying to prop them up as much as they can.

ps. I don't mean that china invested that much, I mean combined.