NEW YORK--(BUSINESS WIRE)--Fixing numerous self-created problems can pave the way for what Former U.S. Secretary of State Henry Kissinger called an 'American Century', a sentiment made during Fitch Ratings' inaugural Why? Forum event.
Issues of this magnitude take on a broader importance in the U.S. as global markets become increasingly complex and interconnected, according to Fitch Group President and Chief Executive Officer Paul Taylor. Those changes, in fact, were the genesis behind Fitch's new Why? Forum, rolled out as the rating agency commemorates its 100th anniversary in 2013. 'Investors now more than ever are looking for more of the 'why' behind ratings,' said Taylor.
The U.S. government's partisan struggles can be resolved, according to the panel. 'The sequester has become the new norm on Capitol Hill,' said former U.S. Secretary of Defense William Cohen. 'The government can stop demonizing one another and instead listen to one another,' added former U.S. Secretary of Defense Robert Gates.
Devising constructive solutions to resolve the U.S. government shutdown, expand the umbrella of protection against cyber terrorism and improve relations with the Middle East would give the U.S., as Cohen stated, '...the capacity to continue to remain a Goliath of the new world.'
A case for optimism was made by noted economic pessimist and keynote speaker Niall Ferguson. The U.S. was able to stave off a great depression despite bank failures that mirrored the magnitude of those seen during the 1929 depression, according to the Harvard professor and author.
Issues seeking solutions highlighted by Ferguson revolve around the current plight of the U.S. government. The U.S. debt struggles underscore the breach of contract between generations. Additionally, 'the decline in civil society is one of numerous problems that no amount of fiscal stimulus can fix,' according to Ferguson.
The Why? Forum is an interactive platform offering bylined articles, video, interactive data and live events to provide insight beyond ratings. With contributions from analysts and other market leaders, The Why? Forum examines 'why we think what we think' about global economic, demographic and geopolitical trends, increasing understanding of our world. With free online content that is broader and more informal than Fitch's ratings commentary, the site encourages social media sharing and also allows visitors to post comments on the articles and videos they view. Visit www.thewhyforum.com.