The U.S. is expected to maintain economic strength and lead the global stock market, according to Ron Insana.

The accusation that Americans tend to have a limited perspective on the world is often made by foreigners.

Americans tend to prefer investing in their own country, exhibiting a homeward bias and a reluctance to invest abroad.

For several years in a row, traders and investors have found Wall Street to be the best place to be, despite what many pundits suggest about diversifying away from the U.S.

In 2024, the experienced an increase of nearly 18%, while the saw a rise of 22% in the same time frame.

Few other major markets are close.

Despite three decades of underperformance, Japan has been an exception, with the index up 23% so far in 2024.

Despite significant advancements in both countries, inflation and currency fluctuations make investing in Turkey and the US less appealing based on their year-to-date performance.

Despite several bullish calls made by international strategists, China's stock market is down for the year.

The bulls are trapped in a China shop with numerous economic issues, including a struggling property market, weak domestic consumption, and controversial policies that have led to trade barriers.

While China is the leader in producing electric vehicles and solar panels, exports have increased despite the imposition of tariffs on Chinese goods.

Despite President Xi Jinping's "party over prosperity" political model, foreign investors and domestic consumers remain unenthusiastic.

Of course, the U.S. has its problems.

The U.S. presidential election of 2020 is unique in numerous ways, making it challenging to discuss its impact on trading and investing in a brief commentary.

Our economy is not only stable but also admired globally.

As the U.S. economy slows and unemployment rises, inflation continues to decrease, which may result in lower interest rates.

The stock market's rally could be prolonged by rate cuts, which would aid in the economy's recovery.

The composition of Congress and the policies of the next presidential administration in 2025 could alter everything.

We won't know what will happen in the U.S. after Election Day on Nov. 5.

Our country's debt and spending are unsustainable.

Despite the U.S. having smaller fiscal issues compared to other nations such as China, Japan, Italy, and Spain, bond market investors have not yet shown signs of disinterest.

In 2023, China's debt-to-GDP ratio was estimated to be 288%, while the U.S.'s ratio was 123%. Japan's debt-to-GDP ratio was 255% in the same year, according to the International Monetary Fund.

U.S. bonds remain attractive to overseas investors due to the interest rate differential, high yields offered by U.S. Treasurys, and the potential for capital gains if rates decrease. As rates decline, bond prices increase, providing an opportunity for capital appreciation.

Despite worries that it could be replaced as the global currency, the strength of the U.S. dollar has remained stable.

If investors heeded the call for impending doom about America's standing in the world, they would have lost money, whether the criticism came from outsiders or domestic sources.

The financial markets are indicating that America is not in decline, but rather thriving.

That day may come when other economies and markets become more attractive, but it has not yet arrived.

It's worth recalling Dorothy Gale's timeless words, "There's no place like home," to those who urge U.S. investors to diversify into global markets.

Ron Insana, a CNBC contributor, is the CEO of iFi.AI, an AI-driven fintech company.