Wednesday, May 9, 2012

Land Of The Free?

It seems the citizens of the United States have no clue how restricted their choices have become.  When the "freedom" we have been taught we have comes into question, heretics are quickly labeled negative and shooed away.  As patently ridiculous stories of foiled underwear bombers dominate headlines, the congress continues an unabated sprint towards serfdom.

If you beat the odds and somehow navigate regulatory and legal hurdles successfully, you may quietly make something of yourself.  Next you will face the difficult task of investing the 40% your profits that were not consumed by lawyers, accountants, lobbyists, city, state and federal taxes.  Investing at home will be a challenge though as the Federal Reserve has set capital return controls on asset prices limiting your returns to nearly zero.

Also, we had a housing crisis which somehow caused lawmakers to respond with the most punitive set of laws free markets have ever seen.  It is now a virtual felony to even speak about markets outside the offices of Merrill Lynch, JP Morgan or Goldman Sachs or a major sanctioned bank.  We are still unclear as to how this will prevent another housing crisis?

You can forget about investing abroad as only someone running a scam will take your US derived wealth now.

1 comment:

runner said...

There is a great site dedicated to revealing the injustice of the US' citizenship-based taxation and resulting extraterritorial laws like FATCA that are the root cause of these issues whereby Americans have become unwelcome as customers world wide. This is a big issue and is particularly harmful to Americans living abroad who can't even open a local bank account to live their daily lives anymore.
http://isaacbrocksociety.ca/

Here's a good overview: http://www.nationalreview.com/corner/306587/re-re-goodbye-and-good-luck-mark-steyn