Retirement and Living Overseas for Americans
The Growing Trend (& Need!)
FRA Co-Founder Gordon T. Long interviews Doug Casey on the different and emerging trends that are taking place in the U.S. Doug is an author, investor and founder of Casey Research.
On trends and changes in the U.S, Doug relates it to a "lush, comfortable and well maintained prison". In his opinion the country is gradually degrading. He points out that the standard of living in other countries is steadily going up unlike before when the standard of living in the U.S was clearly ahead of others.
He agrees with Gordon on the fact that very soon people will be forced to retire outside of the U.S due to the rising health and medical costs. Doug points out this trend will only just increase because for years the current good standard of living being enjoyed by the U.S is a result of the heavy borrowing that has been taking place for years.
"When you take on debt, you are either mortgaging your future or you are consuming capital that somebody has saved in the past and leant to you to increase your standard of living now, but when you pay the debt you reduce your standard of living by more than that amount because you have to pay interest on it in addition."
He predicts that when interest rates start going back up, things are going to get bad quickly, and he advises people to take precaution now by diversifying both politically and geographically while they can. He also recommends that people should acquire as many gold and silver coins as possible as it would be a great way to conserve capital.
"I don't think in today's high tech world, the government serves a useful purpose. There's nothing that the state does that could not and would not be done better and cheaper and without coercion by the free market."
"If you are the citizen of a country, the government considers you as its property this is why you are better of living in a country where you are not a citizen, and so they treat you as a guest to be cultivated as opposed to a milk cow that has to be milked."
On the issue of people renouncing the U.S citizenship, Doug believes that this trend will simply keep on increasing. He likens this increasing exodus to what happened in the past, when the American predecessors left England in search of greener opportunities. He advises that Americans' who value their freedom should look into getting dual citizenships.
"The quality of medical care is at least as good outside the U.S as it is in the U.S and it is much much less expensive."
Doug believes that the popular belief held by most people, that the medical coverage you get when traveling the world is of a lesser quality as that in the United States is wrong. In his opinion you receive a cheaper and much better service.
Written by FRA Contributor: Chukwuma Uwaga - firstname.lastname@example.org