| The Greater
Depression: Updated |
| By Doug
Casey |
| For international investment expert
Doug
Casey, there’s more than a recession on the horizon… he recommends
battening down now for the rough seas ahead... with some special information
about making sure your investments can weather the coming storms. |
| Let me cover the big
picture. I do think we're approaching the end of the world as we know
it…I think there is such thing as the business cycle. It exists. And we've
had the longest expansion - and the strongest expansion - in the world
history. But we're at the end of a 25-year boom. It's gone on more than
a full generation now. And I'll tell you how it's going to end: It's going
to end with a depression, and not just a depression; not just another Great
Depression; it's going to be the Greater Depression.
What's a depression, incidentally? It's
a period of time when distortions and misallocations of capital are liquidated;
that's called a depression. Over the last 25 years, distortions and misallocations
of capital have produced an artificial boom. But when these distortions
and misallocations of capital are liquidated, we'll get a depression. |
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| Another general definition of a depression
is this: a period of time when most people's standard of living goes
down significantly. Now, for the long run, there's no question in my mind
the standard of living of everybody on earth is going to go up immensely
over the next hundred years. Immensely. But that doesn't mean that we're
not going to have setbacks, and I think we're looking at one: A severe
standard of living drop. So the economic picture is not going to be good… |
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| So what should you be doing about all this?
I suggest you really internationalize yourself. I think what you ought
to have is your citizenship in one country, your bank account in another
country, your investments in a third, and live in a fourth. You've got
to internationalize yourself. Most people out there are like medieval serfs,
psychologically and physically: they're born some place, they don't go
very far from it and that's where they die, and they're going to get exactly
what they deserve. Well, you can't be that way. I think you ought to treat
the world as your oyster. |
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| What am I doing about this? I've been all
over the world. I guess I've lived in 12 countries now. And out of 175,
I've been to most of them, numerous times actually. What am I doing, where
do I want to go, where am I living? |
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| Well, in New Zealand. I went there a few years
ago for the polo, actually, and the reason was that playing polo there
was about 10% what it cost me in Palm Beach, and I liked it better. So
we bought a lot of real estate. But since then, the currency has doubled
and the real estate within that currency has doubled at least. So I'm getting
out of New Zealand. Where am I going now? I'm going to Argentina. |
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| And let me give you a tip, okay? Forget
about Europe, it's going to become a petting zoo. It's like Disneyland
with real stones instead of paper Mache stones. I mean, Europe is on the
slippery slope. I wouldn't touch Europe with a ten-foot pole. If this war
with Islam gets out of control, Europe is going to be an epicenter. It's
going to be a disaster. I'll tell you where you ought to look. Argentina
is the place to be. It's the cheapest country in the world. It has low
population, incredibly beautiful, the climate is great. One hundred years
ago, it was in competition with the US for being the best place in the
world and the richest place. But it went downhill radically, radically. |
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| Internationalize
Yourself |
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I'm going to Argentina
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| Doug Casey isn't the only one
going to Argentina, a number of people who share Casey's view of the
severity of the impending crisis coming our way have already joined up
with Doug at the Estancia. The Estancia is located in an area of
Argentina which is spectacular, and may have the potential to turn into
another Aspen. With the growing number of Americans & Europeans moving
to Argentina this is beginning to look more and more like a sure thing.
(EscapeArtist.com Inc. has three offices, and one of them is in Argentina,
so we already have one foot in the door, so to speak.) Inspiration for
the Estancia was, at least in part, derived from the story of a fictional
village, a "retreat for the rational" in Ayn Rand's novel Atlas Shrugged.
If you are looking for a "retreat for the rational" in these trying times,
you are invited to visit Doug in Argentina and take a look at the Estancia. |
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| The Estancia is designed to have
absolutely everything that a sophisticated, worldly person could want.
The designers didn't miss a trick. The vineyards not only offer a pleasing
aesthetic, but they should pay for the costs of the golf course and other
facilities. It makes it easy to be in the best health and condition of
your life -- a great gym, a great spa, and everything from a lap pool,
to a parcours, to tennis, to polo, to bocce ball, to scores of kilometers
of biking, jogging, and riding trails. Plus a nice library, and the kind
of neighbors you can have a pleasant intellectual conversation with. If
you're interested in learning more about Doug's Estancia, click here. |
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| But let me tell you something. It's turning around
I think. And what's going to happen is driven by the fact that everything
in Argentina costs between 10% to 30% of what it costs in North America.
That's correct. It's that cheap. It's free. It's free. It's free for us
as North Americans. But the Europeans really think it's free with that
strong Euro. So you're getting a massive immigration from rich Europeans
that can see the handwriting on the wall and like it down there. And I
really like it down there. It's just a great society, great society, great
place to hang out, prices are right. I mean this can solve most of your
investment problems right there, just by transplanting yourself, if you've
got some capital. Furthermore, Argentina is going to be insolated from
WWIII to a good extent. |
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| Hope to see you down there! |
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| Doug Casey is a best-selling author and chairman
of Casey Research, LLC., publishers of a variety of subscription-based
advisories for independent-minded investors. The
Casey Report. |
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| Now, you have the unique opportunity to become
part of The Casey Report… subscribe now, … click
here now to find out more. |
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