The one reason the US IS recovering
I've also read that article by TMFKopp, and I can say that he is right, but for the wrong reason.
Brand names is total nonsense. Anyone can find out how to make coke, or even how to manufacture Intel microchips. Give me ten billion dollars and some country that does not recognize the US patent law, and I will set up a second Intel for you. And the same goes for all other American brands. All of that is easy to reproduce.
The only reason it's not being reproduced in other countries is that those countries have no market for them. And this obstacle is crucial. Ten billion dollars will build you another Intel in Angola, only who is going to buy these microchips?
Capitalism is a curious thing: it starts investing only AFTER the government has created enough consumer demand.
And which country is willing to apply Keynesianism to its economy, while advising every other country to shrink their markets by austerity programs? That's right, USA.
The first thing one notices when reading economic news is the incredible intellectual gap between American government economists and their foreign colleagues. Americans are the only ones who understand it's the government's job to create the consumer. Everybody else is parroting the outdated economic mantras that every American economist knows to be wrong.
To me, there is one and only one reason to be bullish on America: the way every other government is letting its consumers run out of cash, and then wonders how come their economies can never decouple from the US market. Being the only Keynesian country in the world is a huge advantage. You have other people line up to give you their consumer goods for free, and in exchange you offer them your willingness to consume them for free.
So as soon as even one other government gets its economic science right, the only competitive advantage will be gone and the US stock market will immediately become an obvious short. So far, there is no sign of that happening.