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originally posted by: nenothtu
I could see a mass exodus conceivably, and a concurrent "die off" among the stay-behinds for a variety of reasons, but I wouldn't think it could all occur within one decade, even if we factored a disease epidemic AND a nuclear war in for good measure. 250 million of anything is a lot of motion.
This year, record numbers of Americans are set to not only escape the United States, but also renounce their citizenship, too.
This post (back on Page 10) deserves a thread of it's own, it's an elegant and masterful synopsis.
Our politicians can try to kick the can down the road for as long as they can, but at some point the consequences of our foolish decisions will hunt us down and overtake us. The following is what Peter Schiff had to say about this coming crisis the other day...
"The crisis is imminent," Schiff said. "I don't think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems."
"We're broke, Schiff added. "We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out."
Schiff points out that the market gains experienced recently, with the Dow first topping 14,000 on its way to setting record highs, are giving investors a false sense of security.
"It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception," he said.
"The Fed knows that the U.S. economy is not recovering," he noted. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
"Look at it this way. Americans are standing at the bottom of a very tall mountain - Mt. Everest, Mt. Kilimanjaro...they look up and see an avalanche barreling down. Determining the one snowflake that started this chaos shouldn't be our focus. Recognizing the severity of the situation and moving to safety should be," Rickards explained.