It is a sobering thought to try projecting long range forecasts of growth, as they have two tendancies: 1) to be quite fallable, and 2) to demonstrate trends that may be of concern. Yesterday, I wrote about my reaction to intervention attempts in the currency markets. Today, there is a report released by a French thinktank that discussed the trend for econmic decline over the next 50 years.
One of my fears, in part as a result of 9/11, and because of latent xenophobia in general, the US will jeopardize its position as a leading center of invention and innovation in the world. I saw similar reports that education and population declines or stagnation in the US will have a major impact over the next 25 years, if critical skills gaps are not addressed. Just because it appears that there is an overabundance of skilled labor today does not mean that this will always remain true, though policies implemented today will have a major impact on filling the demand in the future.