Armstrong Economics Blog/Politics
Re-Posted Jun 5, 2019 by Martin Armstrong
QUESTION: Marty,
Tks for all your help and free education services.
When the 3rd world is crushed in USD denominated debt and there is a world currency reset after the pension crisis in the west/US, will Asia be the best place to be?
What Asian countries does Socrates say will be best?
Cheers
Baldy
NZ & Scotland were mentioned in the past but both have awful climates and seriously challenged leftie leaning govts.
ANSWER: NZ and Scotland were more from a perspective of war. Neither is a choice from an economic standpoint. From an economic viewpoint, Asia will be a better place. The countries that have come out of Marxism, ironically, will be less likely to embrace the extreme left since they know where that leads. I have friends who were in Hungary and Russia who migrated to the West. One went to Germany and the other to the United States. They did not know each other. Both remarked that what they had fled from had appeared in the West post-2007. You cannot get on a plane today without, “Papers, please.” You can no longer travel with money or even open an account overseas without that government reporting back to your home country (USA is not part of the CRS so Europeans can open accounts in the United States – just do not use a bank that has branches in Europe).
The West is bleeding human rights all to support the power of government. I suspect there will be serious civil unrest. The West is rising again to the call of the left (i.e. Bernie Sanders or Jeremy Corbyn in Britain). As tensions rise in Europe over the EU desperately trying to exert its power to retain its position, the rising separatist movements will only grow. This presents a risk of civil unrest and the future does not look so bright.
These trends will aid in sending capital fleeing to Asia when the USA joins the crowd. That is what I meant in saying that I am more concerned about who follows Trump this time around. A career politician will defend the system against the people to retain the power base. That is just the lesson history presents — not my opinion.
Centinel2012 