Courtesy of Pam Martens
By Pam Martens and Russ Martens
There is recent evidence that the U.S. is already seeing capital flight. According to a January 24 report from the United Nations Conference on Trade and Development, China beat out the U.S. in foreign direct investment inflows last year, receiving $163 billion versus $134 billion for the U.S. That was a radical change from 2019 when the U.S. received $251 billion in foreign direct investment versus $140 billion for China.
Capital flight could accelerate this year if the craziness in Congress and Wall Street continues. Just ask yourself this, would you want to invest in a country that had scenes of a bloody attempted coup of the government featured on the front pages of newspapers around the world? Would you want to risk your savings in a stock market that has ceased to perform its two key functions: a pricing mechanism for the value of companies and efficient allocation of capital to worthy businesses and industries.
It’s not a good sign either when Saturday Night Live’s Cold Open has a better command of what’s going on in the country than the Dow Jones Industrial Average. The most recent SNL looked at “What Still Works” in the U.S. and found that the following is seriously broken:
The vetting of members of Congress as evidenced by Congresswoman Marjorie Taylor Greene’s belief that mass school shootings in Newtown, Connecticut, and Parkland, Florida, were staged, along with Greene’s previously stated belief that the California wildfires were started by “Jewish space lasers.”
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