4 ms·

You know, I've been aware of this problem for years, and (far from thinking there is a macro-level solution) I honestly can't come up with a personal strategy t

You know, I've been aware of this problem for years, and (far from thinking there is a macro-level solution) I honestly can't come up with a personal strategy that doesn't involve moving to Uruguay or the badlands of Montana. The problem is that we are faced with very different possibilities: 1. Argentinian-style perpetual insolvency. In this case, buying gold and certain foreign debts is the best strategy. 2. Cuban-style socialism. In this case, offshore accounts will be needed. 3. Bolivian-style hyper-inequality. In this case, it's probably best to bet on a few big corporations and hope they get most-favored status by the government. 4. Chilean-style clown fascism. Least likely, but in this case, petty dictators come and go, leaving the usual bodies behind. Best bet here is to just shut up and mind your business. 5. Mexican-style mediocrity. In this case, everything is pretty much the same, but everyone is poorer and the public infrastructure is shabbier. Really, this is most likely, because people won't see it coming, and won't have to shift their portfolios around too much.

kingkongrevenge 18y ago
One has to hope for South Korea: Crisis and insolvency done and over with inside three years. Some form of default is inevitable. The only real question is whether anyone will be smart enough to take the shortest way out, which is straight through. I would guess not and anticipate hyperinflation.
- ckinnan 18y ago
  South Korea had booming markets in the US and Europe to export their way out...
alecco 18y ago
US can just go back to normal historic policy and be open to immigration. That was it's growth engine in the past and can make it recover within years if properly regulated (i.e. make them pay taxes and slowly earn privileges.) But suburban mild racism is in the way.
- petercooper 18y ago
  It's not racism (thought it used to be - US immigration policies regarding "Orientals" were shocking at one point). If it were racial then it'd be ridiculously easy for western Europeans to emigrate to the US - and it's not. I've wanted to move to the US for a few years now. However, like you, I've wondered why immigration isn't being discussed as a serious solution to our economic problems - so good one for bringing it up.
  - alecco 18y ago
    I am Latino and had to suffer US border checks many times. To be fair, on the last couple of times the immigration officers were very friendly, while the customs and (Homeland Security) ones were worse than ever. Uneducated bigots are the norm. Let me tell you the last one. A customs officer started speaking to me in Cartman-Spanish (after a brief exchange in English) making a whole scene in front of about 50 people queuing behind me. After a while my patience was gone and I answered loudly "I'm very sorry but you don't speak Spanish and I cannot understand what you want. You are speaking in infinitive and skipping words, so it isn't clear if you are asking where I've been, where am I going to be, or the reason of my stay. Migrations didn't have a problem, so either check my luggage or let me go." At that point it was 50-50 he would kick me back out, but I guess the dirty looks he got from the people in the queue convinced him to just let me get through. I don't even look Latino and had a valid visa right there in my passport. What my friends, relatives, and fellow Latinos go through is nauseating, like the occasional cavity search. It is very ironic this happens often in states named in our Language. So trust me, it is racism.
    - petercooper 18y ago
      There is undeniably racism involved in border crossings and with the authorities in general. There are "checkpoints" in the south of US border states where many are discriminated against. I believe what you say. My point, however, is on the immigration policy rather than enforcement. I do not believe American immigration policies are racist. They're protectionist and potentially xenophobic but otherwise equal black and white citizens of the same country have the same chance to migrate to the US.

kingkongrevenge 18y ago

One has to hope for South Korea: Crisis and insolvency done and over with inside three years. Some form of default is inevitable. The only real question is whether anyone will be smart enough to take the shortest way out, which is straight through. I would guess not and anticipate hyperinflation.

ckinnan 18y ago
South Korea had booming markets in the US and Europe to export their way out...

alecco 18y ago

US can just go back to normal historic policy and be open to immigration. That was it's growth engine in the past and can make it recover within years if properly regulated (i.e. make them pay taxes and slowly earn privileges.) But suburban mild racism is in the way.

petercooper 18y ago
It's not racism (thought it used to be - US immigration policies regarding "Orientals" were shocking at one point). If it were racial then it'd be ridiculously easy for western Europeans to emigrate to the US - and it's not. I've wanted to move to the US for a few years now. However, like you, I've wondered why immigration isn't being discussed as a serious solution to our economic problems - so good one for bringing it up.
- alecco 18y ago
  I am Latino and had to suffer US border checks many times. To be fair, on the last couple of times the immigration officers were very friendly, while the customs and (Homeland Security) ones were worse than ever. Uneducated bigots are the norm. Let me tell you the last one. A customs officer started speaking to me in Cartman-Spanish (after a brief exchange in English) making a whole scene in front of about 50 people queuing behind me. After a while my patience was gone and I answered loudly "I'm very sorry but you don't speak Spanish and I cannot understand what you want. You are speaking in infinitive and skipping words, so it isn't clear if you are asking where I've been, where am I going to be, or the reason of my stay. Migrations didn't have a problem, so either check my luggage or let me go." At that point it was 50-50 he would kick me back out, but I guess the dirty looks he got from the people in the queue convinced him to just let me get through. I don't even look Latino and had a valid visa right there in my passport. What my friends, relatives, and fellow Latinos go through is nauseating, like the occasional cavity search. It is very ironic this happens often in states named in our Language. So trust me, it is racism.
  - petercooper 18y ago
    There is undeniably racism involved in border crossings and with the authorities in general. There are "checkpoints" in the south of US border states where many are discriminated against. I believe what you say. My point, however, is on the immigration policy rather than enforcement. I do not believe American immigration policies are racist. They're protectionist and potentially xenophobic but otherwise equal black and white citizens of the same country have the same chance to migrate to the US.