Hello All,
I'll be speaking in Vegas Jan 23-25th at the "Fight or Flight/Passport to Freedom" symposium hosted by Nomad Capitalist.
This is nothing low rank. They have Peter Schiff headlining and I'm somewhere at the bottom mopping up shop afterwards.
It is my honest opinion this is going to be the next logical step or "wave" in terms of economic philosophy as the national debt is getting so high that it is at the critical mass point where there is no salvation. After that you are going to have to think outside the US not just for your future, but at minimum a place to diversify your investments.
Truth is I am not an expert on overseas investing, international banks, etc., so I will be very interested in the speakers. Regardless, it's a pricey seminar, but may well be worth the money.
Cpt.
Cool beans!
ReplyDeleteCaptain this "Fight and Flight" has been going on for a long time. In my family i have relatives who left their countries to other more prosperous countries. The name of the game is that once we become a certain age it was expected that we would have to find opportunities elsewhere.
ReplyDeleteUnfortunately for us here in the US the "Fight and Flight is starting to come to view and many young people as well as those entrepreneurs are looking elsewhere to achieve success because we slowly are starting to look and feel like a third world country.
Get ready for the influx of people leaving for greener pastures!
See people talk about leaving the US all the time but every nation that isn't rife with outright warfare is teeming with socialism. All the US is doing is becoming like the rest of the world. I don't see the appeal of leaving for a place where you are a foreigner who can't speak the language read the cultural cues or own property.
ReplyDeleteYou'd have to travel and research for years if not decades and deal with a lot of foreign laws. In short if you haven't already done it by now it's too late.
There's just too many ways to work the system domestically before resorting to other nations. You just have to pick what is important to you.
Hi Cappy. It may sound crazy to you, but I have just started buying shares after being out of the market for a year.
ReplyDeleteThis is why.
1. The USA is poked, but I don't live there. I live in NZ, and the robust figures for growth are 4% for next year.
2. The gov't has sold down shareholdings of infrastructure and the national airline. Which I like, and which makes a profit (the airline).
3. We don't have QA, and we are in surplus on the budget.
4. Our reserve bank governer is cursing bernanke. He's trying to keep the exchange rate low(ish) as we are an exporting nation, but the bernake has contined QA and people are getting out of the currency.
So, while everyone is going doom, there is a counter cycle, but you have to choose your places carefully. And North America, as far as I can see, is not one of them. The exception would be the West (Sasch., Alb, Wyo, Mon, and the Dakotas.... where they are fracking away merrily.
I would advise all junior economists to leave. If you need a degree, get one from Australia or NZ: our costs are comparable with a state university but the universities have higher ranking. And you may find a way to get NZ or Aussie permenant residence, then citizenship, and then you are out.
We do have short term workers visas for young Americans who want to work during harvest -- which will be the depth of winter.
Anonymous - I disagree. Hong Kong and Singapore are good options where English will serve you well. Both are low-tax and stable. Australia is still viable and now has a sensible government. Chile is stable and relatively pro-business, although anyone considering the move would need to learn Spanish (not that hard, especially once you're immersed).
ReplyDeleteFreedom in the US is deteriorating rapidly as government expands and assumes more and more control.
Have an escape plan. As each day passes I'm more convinced that you'll need it.