With the recent attack on Madrid, Spain one can’t help but realize, finally, that Islamic fundamentalists are not out for Americans, rather for anyone who they deem to be against them or to be infidels. Before March 11th there was a wide spread understanding that they were attacking us as Americans because we lived in America, because of our freedoms, because of the Americanization that has taken place around the world because of our capitalist system.
With the attacks last month in Spain we noticed a shift from that view point, while the Spanish are an ally of the US (or were before their recent elections, the current administration has come firm against America but has not truly been tested), they still were quite distant from us.
So why could this be good for the US Economy, and more specifically job creation? The effort that other countries, where we have outsourced much of our work, are putting towards battling and keeping terrorist plots suppressed is unsure. Recently the Canadian government has come out to say they aren’t doing everything they should, and those recent attacks on Madrid show that even more advanced Europe isn’t doing enough (though they are pretty good at appeasement). Leaving out of country assets vulnerable to attack, where assets that remain in the states are protected by the American government and the armed services.
As the threat continues to rise and become more of a front burner issue, I believe, we’ll see companies pulling some of their overseas work back into the states for safe keeping. That coupled with the strong market and largest job growth in years last month, it is turning out to be a very good time for the prosperity of Americans.