Look at what Greece can produce (natural resources) as compared to what the U.S.A. can produce. A country’s potential wealth depends on whether or not it has much in the way of natural resources (oil, metals, arable land, etc.). Greece will be an austere nation sooner or later. Sooner or later, when we have new leadership in business, academia and politics, the U.S.A. will be quite prosperous again.
Various locales such as Korea, Hong Kong, Taiwan, Singapore and Japan have proven that a smart and industrious people is sufficient natural resource in the modern world.