'Bright Future Ahead' says Treasury Chief – and we Fools agree

About Latest Posts Scott PhillipsScott Phillips is The Motley Fool's Chief Investment Officer in Australia. He is Advisor of The …

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Starting this article with 'I hope you had a chance to catch the Treasury Secretary's appearance at today's Senate hearing' might not be the most typical way to grab your attention – but stick with me.

The head of our nation's coffers, Dr Martin Parkinson, spoke to members of the Senate today, and his words bear repeating. Some key snippets from Fairfax:

"There is an overwhelming negative sense about much of the national discussion and debate"

And this:

"It is almost as if most Australians seem to think we live in Greece. We don't. We actually have an incredibly bright future ahead of us"

The future belongs to the optimists

At The Motley Fool, we've long been realistic optimists. The future will assuredly be better than the past – and likely considerably so. We'll have periods of stagnation and even short periods of decline. But in the medium and long term, our system of democratic capitalism – despite its faults – will deliver greater prosperity in the months and years to come.

Bruce Jackson, our General Manager, yesterday highlighted some companies that are gunning for growth. He couldn't be more right.

Growth matters

Even those companies that won't deliver 'out of the ballpark' growth, still have aspirations to be bigger and better.

Woolworths (ASX: WOW), Wesfarmers (ASX: WES) and Metcash (ASX: MTS) may have the grocery market sewn up, but they're still planning to get bigger.

Even our banks – already sharing the market between them – are looking for ways to deliver higher profits. ANZ (ASX: ANZ) is looking to Asia for growth, NAB (ASX: NAB) is trying a different marketing angle, and Commonwealth Bank (ASX: CBA) is aggressively ramping up its online offerings.

Companies getting it done

This week alone we've seen great earnings performances from Domino's (ASX: DMP) and we covered the impressive results from carsales.com (ASX: CRZ), minnow 1300 Smiles (ASX: ONT) and trend-beating Noni B Limited (ASX: NBL)

Ours isn't an economy without its problems, but we were heartened to hear no less than Dr Parkinson agreeing with our basic tenet: don't buy the gloom and doom.

Foolish take-away

The future will be better than the past. Some companies will fail to keep up with technology or the competition, but many have bright futures, and some of today's minnows will be tomorrow's giants.

Be optimistic, be Foolish – and have a great weekend.

If you are looking for ASX investing ideas, look no further than "The Motley Fool's Top Stock for 2012." In this free report, Investment Analyst Dean Morel names his top pick for 2012…and beyond. Click here now to find out the name of this small but growing telecommunications company. But hurry – the report is free for only a limited period of time.

Scott Phillips Is The Motley Fool's feature columnist. Scott owns shares in Woolworths and Domino's. You can follow him on Twitter @TMFGilla. The Motley Fool's purpose is to educate, amuse and enrich investors. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »