Wow, thanks for commenting.

I, too, I am doubtful about significant change from within in the capacity needed to reverse this tide.

Adam

Great post. Just what we were talking about. Unfortunately, change will probably not come from within. The downward slide is probably unstoppable due to the heart of man, unless we have a war that requires new advancements in technology, energy, transportation, etc.. and the demand for these things creates jobs. Of course enough people could be killed so that unemployment is eliminated, too. The producers will produce in an increasingly hostile and punitive environment until they decide not to play anymore. Where do the capitalists go? Where did John Galt go? The producers stopped enabling the system, the politicians’ teet ran dry, umbilical corded ones rebelled and destroyed society and lawlessness flourishes. The top meets the bottom and Atlas Shrugged, baby! Thank God that is not our end!

Have a great night!

http://www.entrepreneurashero.com

Don’t expect anything much. There’s only one post. I’ve been too busy to rant much at all. (Maybe that’s a good thing for the world!)

However, if someone has busy as you can make the time to intermittently churn out quality posts here, I really have no excuse.

Regards,
Dan

I didn’t read the thing about Singapore, but not surprised to hear it. Jim Rogers is going to blow his top. Where will he hide now?

I’m not saying I agree with tax evasion, but who is going to trust Swiss Banks anymore if that was their big enticement for the wealthy?

Capital will always go to where it’s protected/appreciated.

Depending on how bad things get here in the US, I expect to see the Obama administration possibly implement capital flight controls down the line…i.e., you can’t take your money and leave.

I’m sure some people would laugh at me just for suggesting this as a possibility but I don’t see it far-fetched at all.

I also one day in the next 8 years seeing the possibility of the US government making the private possession of gold illegal again like FDR did in 1933.

As for the question where capitalists will go? That’s a good one.

I know one individual who was from Canada now he lives in a Caribbean island with zero income taxes. He has houses in the US and Canada too. Brilliant guy.

In his own words, he has the best of both worlds. Governments do not confiscate his wealth and he gets to enjoy the lifestyle afforded by those countries. (Of course, he has to pay things like property taxes, etc., but those are a pittance compared to what guys like you and I get clobbered on via income taxes on top).

I think more capital will flee to China, especially as the United States becomes more socialist. The opportunity cost will increase.

Certain businesses, of course, will find it harder to extricate themselves. It’s not so easy to just pick up manufacturing plants and employees and transplant them in other part of the world. But if you make it bad enough, they certainly will.

We’ll see how it all plays out….start buying kruggerands!

Regards,
Dan

My question is: where are the capitalists to go?

Today I was reading an article about how the U.S. is putting huge diplomatic pressures on Singapore to get them to give up their long-standing position as an international financial center based on bank secrecy and financial confidentiality. And, the witch hunt is still heating up.

Be sure to send me an email with your blog URL. I will finally be able to dish it back!!!

Unfortunately, I fear you are right.

Especially the last paragraph. The productive class will only take so much before they take their capital and flee to someplace else that doesn’t view them as just another teat to suckle on.

I recently started a blog. I only have one post, but I needed to start one to get this sort of thing off my chest as well. It’s important to spotlight the insanity going on around us.

We may be free market/entrepreneurial types, but there’s no doubt that we all have a huge stake in this collective endeavor we call society.

Regards,
Dan