{"id":5789,"date":"2014-10-10T22:09:09","date_gmt":"2014-10-10T22:09:09","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=5789"},"modified":"2014-10-10T22:09:09","modified_gmt":"2014-10-10T22:09:09","slug":"the-broken-state-and-how-to-fix","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=5789","title":{"rendered":"The Broken State and How to Fix"},"content":{"rendered":"<h4><a href=\"http:\/\/www.caseyresearch.com\/go\/ua4x5-2\/CSW\">The Broken State and How to Fix It<\/a><\/h4>\n<h4><span style=\"font-size: small;\">By Casey Research<\/span><\/h4>\n<p>The United States of America is not what it used to be. Unsustainable mountains of debt, continuous meddling by the government and Fed to \u201cstimulate the economy,\u201d and the US dollar\u2019s dwindling status as the world\u2019s reserve currency are very real threats to Americans\u2019 standard of living. Here are some opinions from the recently concluded Casey Research Fall Summit on the state of the state and how to fix it.<iframe loading=\"lazy\" src=\"http:\/\/trk.caseyresearch.com\/f\/?content_id=1024&amp;code=CSW&amp;editorial=the-broken-state-and-how-to-fix-it\" width=\"1\" height=\"1\" frameborder=\"0\"><\/iframe><\/p>\n<p><strong>Marc Victor<\/strong>, a criminal defense attorney from Arizona and a staunch liberty advocate, says there\u2019s really no such thing as \u201cthe state\u201d\u2014\u201cit\u2019s just some people bossing other people around.\u201d<\/p>\n<p>Not everyone wants to fix things, he says; the bosses like the status quo. For example, aside from drug lords, DEA agents are the ones benefiting most from the \u201cWar on Drugs.\u201d<\/p>\n<p>Victor believes that democracy and freedom are incompatible, since \u201cdemocracy is majority rule, and freedom is self-rule.\u201d If you want to bring true freedom to America, he says, winning hearts and minds is the only way to reboot this country and create a free society.<\/p>\n<p><strong>Paul Rosenberg<\/strong>, adventure capitalist, Casey Research contributor, and editor of \u201cA Free Man\u2019s Take,\u201d views America\u2019s future similarly. He thinks the United States is in a state of entropy.<\/p>\n<p>The bad news, says Rosenberg, is that there will be no revolution. The good news is that the peak of citizens\u2019 obedience to the state is behind us, and people are getting fed up with the government\u2019s shenanigans.<\/p>\n<p>Real change is slow, he says, so we must work persistently to create a better world.<\/p>\n<p><strong>Stephen Moore<\/strong>, chief economist at the Heritage Foundation, says the problem is liberal economic policy: Red states in the US, he says, have blown away blue states in job creation since 1990. Texas alone accounts for the entire net growth of the US economy over the past five years.<\/p>\n<p>As another proof point in favor of a free-market economy, Moore emphasizes that both Obama and Reagan took office during terrible economic times. While Obama has raised taxes and instituted Obamacare, Reagan cut taxes and regulation. As a result, the Reagan economic recovery was almost twice as robust as the Obama \u201crecovery.\u201d<\/p>\n<p>One of the US\u2019s biggest problems, says Moore, is that companies can\u2019t reinvest profits because dividend, capital gains, and income taxes all have increased under Obama. Corporate taxes in the rest of the world have dramatically declined in the last 25 years, but in the US, they haven\u2019t budged. The average corporate tax rate around the world is 24%\u2014in the US, it\u2019s 38%.<\/p>\n<p>Overall, though, Moore is bullish on the US economy. American companies, he says, are the best-run in the world, if only the US government would adopt less economically destructive policies.<\/p>\n<p><strong>Doug Casey<\/strong>, chairman of Casey Research, legendary speculator, and best-selling financial author, isn\u2019t so optimistic. First of all, he says, we\u2019re in the Greater Depression right now, which began in 2008. He fears it\u2019s too late to repair America, but says if anyone would attempt to do so, the following seven-step program would help:<\/p>\n<ul>\n<li>Allow the collapse of \u201czombie companies\u201d (companies that are only being held up by government handouts and other cash infusions).<\/li>\n<\/ul>\n<ul>\n<li>Abolish all regulatory agencies.<\/li>\n<\/ul>\n<ul>\n<li>Abolish the Federal Reserve.<\/li>\n<\/ul>\n<ul>\n<li>Cut the size of the military by at least 90%.<\/li>\n<\/ul>\n<ul>\n<li>Sell all US government assets.<\/li>\n<\/ul>\n<ul>\n<li>Eliminate the income tax.<\/li>\n<\/ul>\n<ul>\n<li>Default on the national debt.<\/li>\n<\/ul>\n<p>Of course, says Casey, that\u2019s not going to happen, so individual investors shouldn\u2019t hope for a political solution or waste their time and money trying to stop the inevitable collapse of the US economy. The only way to save yourself and your assets is to internationalize.<\/p>\n<p>He recommends owning significant assets outside your home country: for example, by buying foreign real estate. You should also buy and store gold, \u201cthe only financial asset that\u2019s not simultaneously someone else\u2019s liability.\u201d<\/p>\n<p>Casey\u2019s suggestions include going short bubbles that are about to burst (like Japanese bonds denominated in yen), selling expensive assets like collectible cars and expensive real estate in major cities, as well as looking toward places like Africa as contrarian investment opportunities.<\/p>\n<p><strong>Nick Giambruno<\/strong>, senior editor of <em>International Man<\/em>, agrees that internationalizing your wealth\u2014and yourself\u2014is the most prudent way to go for today\u2019s high-net-worth investors. It ensures that \u201cno single government can control your destiny,\u201d and that you put your money, business, and yourself where they are treated best.<\/p>\n<p>You should internationalize each of these six aspects of your life, says Giambruno: our assets; your citizenship; your income\/business; your legal residency; your lifestyle residency; and your digital presence.<\/p>\n<p>Regarding your assets, you can find better capitalized, more liquid banks abroad, and using international brokerage accounts can provide you access to new investment markets.<\/p>\n<p>To hear all of Nick Giambruno\u2019s detailed tips on how to go global, as well as every single presentation of the Summit, order your 26+-hour <em>Summit Audio Collection<\/em> now. It\u2019s available in CD and\/or MP3 format. <strong><span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.caseyresearch.com\/go\/ua3m7-2\/CSW\" target=\"_blank\">Learn more here.<\/a><\/span><\/strong><\/p>\n<div id=\"xvMdV95u77zU\" style=\"clear: both;\">The article <a href=\"http:\/\/www.caseyresearch.com\/go\/ua3q8-2\/CSW\" rel=\"permalink\">The Broken State and How to Fix It<\/a> was originally published at <a href=\"http:\/\/www.caseyresearch.com\/go\/ua3b9-2\/CSW\">caseyresearch.com<\/a>.<\/div>\n<p>;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Broken State and How to Fix It By Casey Research The United States of America is not what it used to be. Unsustainable mountains of debt, continuous meddling by the government and Fed to \u201cstimulate the economy,\u201d and the US dollar\u2019s dwindling status as the world\u2019s reserve currency are very real threats to Americans\u2019 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/5789"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5789"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/5789\/revisions"}],"predecessor-version":[{"id":5790,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/5789\/revisions\/5790"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}