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As you and many others have mentioned America has moved to a services and high technology oriented economy. I only have a rudimentary understanding of economics, but from what I understand other countries are quickly catching up to America in many high tech and services industries. From my limited understanding I know that the strongest economies need to be involved in fields with high barriers to entry to maintain their superiority. I see these barriers leveling between the world economies. How do you see America maintaining its economic superiority? And in what fields?

It's a combination of patents and trade secrets and some undefinable secret sauce. Why do Acer and Lenovo persistently have lower margins than Dell? Why does Toyota lead the world in profitability? Why do all three German automakers thrive despite strong competition? How is it that Colgate Palmolive and P&G are beating the pants off Chinese, Japanese and European consumer goods makers in China? It's that undefinable element.

I think American companies will do well the way they always have - by inventing new products and services and improving existing one in the way Americans have always done. Some might say this is taking things a little too much on faith. I don't think so - look at how many of the most profitable companies in America are only a few decades old, and compare that to a similar roster of foreign companies that make the list. Just because they can compete on the low end doesn't mean they can compete on the high end.