No. of Recommendations: 18
Rather, I am concerned about the potentially permanent dismantling of certain aspects of the US system that make it (a) a profitable and reliable place for investments and (2) a jurisdiction of moral standing suitable for being involved with. That comprises things like rule of law, separation of powers, intolerance of and passable action against bribes and corruption, habeas corpus, political neutrality in sundry arms of the government, respect for international treaties and borders, avoiding committing war crimes, that sort of thing. I don't care who did the changes or why, but I care that they happen.
Below are my parting thoughts on this thread.
It's okay to be concerned, but taking extreme investment or domicile related actions at this point in the game seems too hasty to me. Sweeping statements like above need rigorous supporting evidence. Trolling (Governor Trudeau, 51st state, etc.) is not the same as intent and even farther away from action. To determine the extent to which the situation has materially changed, more evidence is needed which will only become available after more time passes.
Buffett said in his annual letter, "Charlie and I have always acknowledged, Berkshire would not have achieved its results in any locale except America". After decades and decades of being the best place to invest, in a mere two months (inauguration was Jan 20), has everything really gone to hell? Maybe it eventually will, more likely it won't, but how can you reliably conclude one way or another in 2 months?
FWIW, my input to those contemplating changes is don't be hasty. There is no need to rush because whatever you think is going to happen, will not happen overnight. Whether good or bad, things always take a lot longer than you expect to unfold.
Last but not least, many unkind and uncharitable things about the US have been said in this thread. I think that's not cool, especially for this group, which has become enormously wealthy (see Net Worth thread) thanks to Berkshire and America. I prefer Buffett's view of eternal optimism for America, while acknowledging it won't be a straight line.
From the latest annual letter:
"The American process has not always been pretty – our country has forever had many scoundrels and promoters who seek to take advantage of those who mistakenly trust them with their savings. But even with such malfeasance – which remains in full force today – and also much deployment of capital that eventually floundered because of brutal competition or disruptive innovation, the savings of Americans has delivered a quantity and quality of output beyond the dreams of any colonist. From a base of only four million people – and despite a brutal internal war early on, pitting one American against another – America changed the world in the blink of a celestial eye."
