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I'm curious how many of you know people who are rethinking life in America due to this financial mess, bailout and the higher taxes and lower standard of living that seem destined to follow?
Chuck22b brought this up on another thread and I found it interesting, because it's something I used to never hear about and now I hear it discussed all the time. I know people who have switched, or are thinking about switching, their retirement plans to retire outside America. I know people who have bought homes or land in other countries-- mostly sunny, tropical, less expensive locales. These days, when the talk turns to real estate, it seems just as likely to focus on bargains elsewhere as bargains here. If I had to describe the general demeanor of Americans I meet and talk to, it's "fed up."
In California, lots of people are voting with their feet... but is this the fate of America as well? And if the well-to-do leave, how will this reshape the country over the next few decades?
I forgot who, but another poster recommended to me to look at Argentina, and their "Capital" flight. If a lot of wealthy people leave the country... inflation will rise, and the country will continue to dig itself into a bigger hole.
When people leave, they trade in their "dollar" assets for the foreign currencies and assets. In turn, eventually the dollars come back into the US since that is the only place that accepts it. This will flood the money supply and cause even more excessive inflation. Basically the same effect as our trade deficit.
If things get really, really, bad (unemployment in the double digits, crime, riots, and pillaging - since the masses are dumb and don't know what's going on and don't understand the credit freeze) ... in spite of my optimism for the US... I would take my skills, capital, and education and go elsewhere. My parents already have a place in Vancouver... it'll be pretty easy for us to go up north.
I'm curious how many of you know people who are rethinking life in America due to this financial mess, bailout and the higher taxes and lower standard of living that seem destined to follow?
Chuck22b brought this up on another thread and I found it interesting, because it's something I used to never hear about and now I hear it discussed all the time. I know people who have switched, or are thinking about switching, their retirement plans to retire outside America. I know people who have bought homes or land in other countries-- mostly sunny, tropical, less expensive locales. These days, when the talk turns to real estate, it seems just as likely to focus on bargains elsewhere as bargains here. If I had to describe the general demeanor of Americans I meet and talk to, it's "fed up."
In California, lots of people are voting with their feet... but is this the fate of America as well? And if the well-to-do leave, how will this reshape the country over the next few decades?
Yes, I agree. I see and feel a lot of the same. So many people joke or talk about moving to Panama, Mexico, or Canada. I would like to leave this country, too. I'm sick to my stomach with what's been going on and this bailout business is the last straw. I give up.
Aren't we jumping the gun a bit?
I have no plans to leave.
Well, the thing is... is that the "Masses" are targeting this bail out as a handout to the rich. The masses are almost demanding businesses to shut down and close shop and punishing those that weren't even part of this mess.
So, why stay?
Let the masses face their unemployment lines, riots, and pillaging. Like I said, the more affluent are more mobile, and can leave if necessary. When a mass of businesses start shutting down... guess what... they might not open shop back in the States again.
Other countries are more than willing to pick up people with skills, education, and capital.
The world is going to have a "skilled"/educated labor shortage as the Developed nations population ages. If America doesn't want us... we'll go to them.
Maybe in the future when you enter Canada/Mexico, etc. you'll have to present a bank statement and your educational degrees and a resume along with your passport. The unskilled/uneducated/uncapitalized will have to stay in America. Spain already shoots on site those that tries to cross into their borders.
I guess if you're independently wealthy it might an option. But if you still have work, finding a decent job overseas, getting a work permit, etc. could be quite a hassle.
If you go to some developing country you might be able to live off savings for a long time. But then you also have to put up with all the BS that goes with living in a developing country....
I don't think we're the point where it's necessary to leave.
Quote:
Originally Posted by chuck22b
Well, the thing is... is that the "Masses" are targeting this bail out as a handout to the rich. The masses are almost demanding businesses to shut down and close shop and punishing those that weren't even part of this mess.
So, why stay?
Let the masses face their unemployment lines, riots, and pillaging. Like I said, the more affluent are more mobile, and can leave if necessary. When a mass of businesses start shutting down... guess what... they might not open shop back in the States again.
Other countries are more than willing to pick up people with skills, education, and capital.
The world is going to have a "skilled"/educated labor shortage as the Developed nations population ages. If America doesn't want us... we'll go to them.
I never really considered it an option before, but I know people who are buying in Mexico... and all their neighbors are Americans. And there are American expats all over the Caribbean, South and Central America, Canada, England, France and Italy. You can buy a castle for less abroad than you can buy a beach shack in CA!
I really don't think politicians are taking the long-term view. The recession is here, the stock market is downtrending and the real estate boom is still a bust, no matter what. The economy will still tank, stocks will still plummet, unemployment will still rise, banks will still not want to lend money to increasingly risky prospects, businesses will still fail and housing will still be in a down cycle, after the bailout has passed. And when taxes go up to pay for it, people who can afford to bail may bail. Our ancestors have certainly done it before.
Expat colonies are springing up abroad. It isn't for everybody, and everybody won't go, but I've never heard such chatter about it. I had a friend go on vacation last summer and end up buying a casita in Mexico. Beautifully furnished. For less than the average American pays for an SUV. A lot of Californians are doing it. So I guess we're conceding California and moving to Mexico.
Hello---It's a world economy. This week, three banks were bailed out in Europe. There really will be no place to go if there truely was another huge meltdown.
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