“G’day mate, we’ve privatized our social security system!”
Posted on 02/04/2013 6:26:56 AM PST by Kaslin
A reader from New York has a follow-up question for me.
Referencing a “Question of the Week” from last month, in which I expressed guarded optimism that America could be saved, she wants to know what I would do if things go the wrong way.
In other words, what if things go really wrong and America suffers a Greek-style fiscal collapse? And imagine how bad that might be since there wouldn’t be an IMF or European Central Bank capable of providing bailouts to the United States.
Perhaps because of an irrational form of patriotism, I’m fairly certain that I will always live in the United States and I will be fighting to preserve (or restore) liberty until my last breath.
But I probably would want my children someplace safe and stable, so I’ll answer the question from that perspective.
The obvious first choice is a zero-income tax jurisdiction like the Cayman Islands that is prosperous and reasonably well governed.
But I’m not sure about the long-run outlook for the Cayman Islands, in part because the politicians there have flirted with an income tax and in part because the jurisdiction inevitably would suffer if the United States was falling apart.
So what’s a place that is stable and not overly tied to the American economy.
Then the obvious choice is Switzerland. That nation’s long-run fiscal outlook is relatively favorable because of modest-sized government and a very good spending control mechanism.
But while Switzerland is not dependent on the U.S. economy, it is surrounded by European welfare states. And I’m fairly certain that nations such as France, Italy, and (perhaps) Germany will collapse before America.
And even though most Swiss households have machine guns and the nation presumably can defend itself from barbarian hordes in search of a new welfare check, Switzerland’s probably not the ideal location.
Estonia is one of my favorite countries, and they’ve implemented some good reforms such as the flat tax. But I worry about demographic decline. Plus, I’m a weather wimp and it’s too chilly most of the year.
Another option is a stable nation in Latin America, perhaps Chile, Panama, or Costa Rica. I haven’t been to Chile, but I’m very impressed by the nation’s incredible progress in recent decades. I have been to Panama many times and it is one of my favorite nations. I’ve only been to Costa Rica two times, but it also seems like a nice country.
The bad news is that I don’t speak Spanish (and my kids don’t speak the language, either). The good news is that Hispanics appear to be the world’s happiest people, so that should count for something.
“G’day mate, we’ve privatized our social security system!”
This brings me to Australia, the country that probably would be at the top of my list. The burden of government spending in Australia is less than it is in the United States.
But the gap isn’t that large. The reason I like Australia is that the nation has a privatized Social Security system (called Superannuation) and the long-run fiscal outlook is much, much better than the United States.
Plus the Aussies are genuinely friendly and they speak an entertaining form of English.
So if America goes under, I recommend going Down Under.
Bless you, sir, for your answer.
My advice: If you had to shoot them - leave them there, new “candidates” will likely go elsewhere.
If necessary you could probably drag them around to form a perimeter as a warning to all. I cannot believe I have to consider these strategies in the US of A. ;-(
I live in south Gwinnett County and have Hank Johnson as a rep.—’Can’t get any bluer than that.
I will have internet, satellite (or cable) TV and all the fresh seafood I can catch or buy! I will fly back for visits, but plan on spending my last quality years abroad in a friendly community...!
First of all, I assume your brother in law spend quite some time in the US before returning to Australia. I also assume your bil is a Australian citizen. Do you think if an American ex military had spend quite time in Australia and then suddenly decides to return he would go to the top of the list just because he had been in the military? I doubt it
I need to look into that...
Have to agree with you. Not Austrailia, no way. Have relatives there. It’s one big “Chicago” nation.
Texas is a whole other country. Www.freetexasconstitution.wordpress.com
“I live in south Gwinnett County and have Hank Johnson as a rep.—’Can’t get any bluer than that”
Oh crikes!!! You must right on the Dekalb line. Isn’t he the guy that thinks Guam is going to tip over?
To the rooftops?
- The US will impose capital controls immediately. You won't be able to move any money out of the country.
- The US will very likely require exit visas to leave the country. Unless you have a compelling reason or big money to bribe the TSA, you will be turned away at the airport, if not arrested outright. If you have two nickels to rub together, the US government is not going to let you run while they still need assets to confiscate.
- No country will accept an American as a refugee, especially one who has left for economic reasons. Unless you already have a business or property or a lot of money stashed overseas, they will not allow you in. And, since it is highly likely the US will impose draconian controls on foreign nationals entering the country during a time of economic collapse, expect reciprocal action from other nations.
- As others have pointed out above, a US collapse will be closely tied to a world collapse. Even if you can navigate your way through all of the all of the above risks, you stand a high chance of being robbed, injured, or killed as the "foreign scum" you are when the economy in your destination country goes bad.
And all of this presumes there is still enough social order (and gasoline) remaining in the US to safely drive yourself to the nearest airport.
No thanks. Their gun ownership laws are ridiculous.
Be careful, that part of Gwinnett might flip over from population shifts ;-)
“Isn’t he the guy that thinks Guam is going to tip over?”
Yep—He’s as stupid as the voters who put him in office. You’d think they would be ashamed of him. But, then, we had Cynthia Mckinney for a while too. When I said “Can’t get any bluer, I meant that in more than one way. :(
Today
Hi 87° RealFeel® 104°
I would melt. Too humid.
The USA has decided that it has world wide jurisdiction regarding their citizens and the banks they choose.
It might make it hard to find a bank outside of the US.
I agree with your scenario. Do people really think in the middle of a collapse they will be able to travel freely within the US much less get on a plane and fly (and then be let in) to another country? The best we can hope for is to shelter and defend in place and somehow rise from the ashes when it is all over. I don’t even think people would be able to get to their ‘local’ safe places- gas will be cut off or astronomically expensive, travel on highways will be jam packed and/or filled with check-points. Unless you are there before and stay put, don’t plan on getting there.
Ever wonder why liberals HATE private jets and private aircraft? It is because they can't control you!
A good skillset to have is piloting private aircraft in order to escape or retreive loved ones from occupied areas.
I have a friend who lives part time in Honduras and she has an escape plan to the USA just in case things collapse. She loves Honduras and its people but she’s aware of how quickly things can change to paint a target on her back.
She lives in a gated community with a private landing strip for a reason.
The last thing you want to be is a foreigner in a strange land amid a financial collapse.
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