Where should you go if you want to ride out the inevitable financial collapse? Looking for suggestions, preferably outside of the US.
There won't be a financial collapse, schizo.
>>2006863>zero or negative interest rates across the first world>every country borrowing money like there's no tomorrow>US national debt tripled in 10 years>quantitative easing shenanigans>no collapsesure schizo
>>2006860You want somewhere solvent and reasonably developed but also outside of the US/IMF/WB sphere of influence.Personally I'm looking closely at Cambodia, Uganda, Pakistan, and Oman. Probably the first one since I've already lived there.
>>2006899Explain how this leads to a full blown collapse and not a crisis where things get worse but after restructuring and implementing new ideas things will get back to normal
>>2006902>PakistanPakistan’s foreign debt is equivalent to 45% of GDP. Much of that of that is to Saudi Arabia and China (which maybe don’t scare you as much as the IMF/WBG for some reason?), but they borrowed a few billion from the IMF as recently as last summer. Total public debt is close to 90% of GDP, so the situation is both a lot more indebted and a lot more foreign than the US.>UgandaComparatively more solvent; debt is only a little over 40% of GDP. But it’s overwhelmingly from IMF and WB—Covid recovery infusions from them increased public debt by 20+% in one go last fall.I guess Cambodian debt is mostly Chinese, but having any confidence in anything about Hun Sen’s crackpot kleptocratic dictatorship seems like gambling on bad odds to me.Good luck!
>>2007045And whoops, yes, US public debt is indeed higher than 90%, so Pakistan is slightly less indebted than the States. But American debt is still more domestic.
>>2007049>explaining stuff to a retard
>>2007038sure thing bucko>dynamic center of the capitalist system moved to Asiathis is the root issue of it all>lack of quality manufacturing jobsunions disappear, middle class shrinks, great social discomfort>government lowers interest rates to stimulate investments across the economy>has to finance it via quantitave easing or rolling debt because it's been chronically deficitary for decades due to big bloated government and wide social net for its citizens that doesn't reflect the country's productive capacities anymoreit's not enough to compensate the lack of skilled competitive workers and economies of aglomeration that you can find in Asia, actually ends up negatively signaling the markets, affecting their trust in the economy and increasing uncertainty, thus they don't invest>government sees this and decides it has to "have skin in the game" and increase public investment in infrastructure so it can rebound in the economy and entice the corporations>does this through more debt, of coursestill doesn't adress the issue of competitiveness, which is mainly of human capital and economic planning, some businesses invest but with high automation, middle class is left out, most businesses remain too sketched out to invest>government sees this and decides to cut regulations and increase loopholes in favor of established industries, or to increase regulations in favor of nascent industriesa flip-floping directionless state is incapable of inducing long-term investments, this only creates paper-pushing busy-jobs to make cost-benefit analysis and keep up with the red tape, which only seres to block out the middle class and smaller businesses from many industries and prosperity>nothing works so the government has to resort to tax cuts to keep the numbers afloatbusinesses pocket the money, wealth inequality increases, the middle class ends up footing the added tax burden, national debt increases, even more uncertainty, even less investment
>>2008213>last approach didn't work, so new government goes back to public investment through debteven if the government were to invest optimally in education and certain industrial parks, those efforts would take decades to bear fruit, decades of uncertainty and uneasiness that a democracy can't cope with, thus ensues the vicious cycleeventually the middle class, which is the deciding factor in elections across the globe, gets so fed up that it falls for populism and its easy "solutions" to their social discomfort>trade deficit partly responsible for deficitary state so let's start a trade warmiddle class business and consumers end up bearing the brunt of the cost>uhh that didn't work, uhhh China's only competitive because of their devalued currency, we just have to devalue ours tootriggers a global currency war, every country starts devaluing their currency, causes mayhem in the international financial system, countries that are too in debt can't hold their currency against the dollar or they default, but if they devalue their currency they start experiencing hyperinflation stemming from the import sector, either way massive uncertainty + USD devaluation triggers capital flight from the entire third worldnations can't handle the pressure on the balance of payments, IMF can't handle the systemic crisis, one large country defaulting would be enough to implode the entire economic system, at this point the middle class has disappeared and fallen into poverty, massive wealth inequality, violent revolutions spread like wildfire throughout the third world, old conflicts are rekindled>U.S. middle class votes for a hawkish president hellbent on making China bend the knee and fall neatly into its sphere of influence
>>2008214best case scenario the world falls into a second cold war, dividing it into two spheres of influence, severely decreasing growth rates and most importantly living standards for the bulk of the population for decades to come, think like what happened with Russia in the 90's but for the entire worldworst case scenario WW3 is fought over this economic turmoil (over the pretense of muh human rights and muh totalitarianism of course), except with China being such an integral part of globalized supply chains this would mean a full blown paralysis of virtually everything manufactured, means no more material comforts for anyone, means the world has to go into war economy mode, with the middle class bankrupt and fighting in the frontlines it's the global elites that end up financing the war economy (and with that they end up with an even greater hold on power for the post-war period, when they decide to completely redesign the international systems and get rid of much of the national sovereignty constraints on their power, starting a generational-long recovery)I just hope you realize:1. We're living the last stages of this reality already;2. Trump got >>this close<< to starting a currency war;3. This is inevitable as there's no scenario where either China or the U.S. relinquish power and influence on good faith;