Sunday Sept 12, 2010
The down turn in the economy has immigrants slowing their entry into the US>
I saw something on Drudge the other day that I think gives this yet another dimension. After 200+ years of being the destination country of choice, even Americans are renouncing America.
Bear markets are all about exclusion. The ultimate exclusionary move is for a government to adopt a tax policy that drives citizens from their control. This has been going on in New York and CA for some time. My city of San Antonio just got another ex patriate from CA, a medical inventor, who rented a 20 story building here no less. Indeed, since the DFW airport and the collapse of New York City in the mid 1970s, Texas is now home to more Fortune 500 companies than New York State. Now however it is happening on the national level as well. While the numbers are not great, they are the greatest in years, what one would expect in a tidal wave of change, no? Americans are renouncing their citizenship. This is the ultimate vote of no confidence by a citizen, the world offers better alternatives. If this is not a civilization in decline, what is?
Professor Elam 
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