NEW YORK, N.Y. — We could (update: ARE) be seeing the signs of capital flight-out of the US.
The volatility and general weakness of the US economy has been noticed.
“Cash is and will continue to be trash” stated Ray Dalio earlier this year. Big surprise; the U.S. dollar has been weakening in value ever since 2002.
Consumers purchasing power also keeps tumbling, and has been in a free fall decline since 1933 (chart below):
According to Dimon, the problems in the U.S. go much deeper, and he even suggested “diversification” from the U.S. itself.
On top of the COVID-19 pandemic, which thankfully appears to be winding down (at least for this round; stay tuned for rounds two and three), civil unrest and protests inside the U.S. have also been in the headlines since June 2020.
Chinese dictators are taking notice (of this and other things), and appear to be stoking the unrest even further. Reportedly they smell blood in the water:
China’s state media has also shifted into high gear. On the one hand it wants to encourage unrest, with the Global Times asking on Twitter if police are “Peacekeepers or mass murderers?” and Xinhua promoting a New York Times article sympathetic to rioters.
Violence and civil unrest aren’t new to the U.S.
But now that a corporate CEO like Jamie Dimon is show concern the sense of alarm gets out of “conspiracy” and starts to move into “how did we not see this coming?”.
He shared a scathing indictment of the U.S.:
The Chinese see an America that is losing ground in technology, infrastructure and education — a Nation torn and crippled by politics, as well as racial and income inequality — and a country unable to coordinate government policies (fiscal, monetary, industrial, regulatory) in any coherent way to accomplish national goals.
Dimon even went so far as to suggest the U.S. “could be perceived as a place that is inhospitable to capitalism and capitalists.” Reductions on Foreign investments would seem to support this indictment.
With savings for almost half of the country’s citizens on the brink, half of American’s don’t even have enough cash to consistently put food on the table, let alone handle an emergency
Of course, its possible things could suddenly go right.
Maybe the mainstream media will quit outright lying to the public, pitting us at each other’s throats (as opposed to against our leaders who seem to have caused this disaster) and instead begin to earn its trust.
It’s possible for U.S. citizens to set aside their differences, and work with each other. (See above: Mainstream Media)
Politicians could see the light, reduce taxes, and lighten the regulatory burden on average Americans.
In short, start being leaders than “Tax Fattened Popularity-Contest Hyenas that Are Throwing ALL of us to the Wolves”. Not that I am bitter.
Given how unlikely all of this is, maybe it’s time to consider putting your “plan B” together. And also pull that “go bag” out of the closet.
This ship appears to be sinking. The rats aren’t the ones leaving it … because they are the ones putting it underwater.
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