The next domino fell on last December 4th, when 59% of Italy voted “no” in their referendum, repudiating their current administration. Three days later, Prime Minister Renzi turned in his resignation. The two big winners in this election were the Northern League and the Five Star Movement, both of which are anti-EU.
Because of all of this, it is now likely that Italy will leave the EU some time next year. This also means they would abandon the Euro currency and return to their own (the lira).
If Italy abandons the Euro, it is very likely the Euro, as a currency, will crumble. This is because Italy, which based on my observations from last visit there is almost a third world country, has a staggering debt-to-GDP ratio of over 130%. $1 trillion of its bonds are actually producing negative yields.
Either the EU will have to bail out Italy by printing even more money, or Italy will go bankrupt. Either way, the EU is screwed, since its largest banks are already teetering on bankruptcy, including Deutsche Bank.
On top of all of that, Germany, France, and the Netherlands are having major elections in 2017, and many anti-EU voters may likely swing the results.
The US is headed for collapse, but at least we have some time in order to get our affairs together and get the hell out before things get really bad. Suicidal Europe is a different story. Europe will collapse well before the US does.
My general advice has been to, if you really feel strongly about freedom and long-term happiness, make plans to move out of the Western world within 5-15 years. However, this 5-15 year figure is really based on the US and Canada. If you live in Europe, I honestly don’t think you have that kind of time. If I were living in Europe right now, I would set moving out of there as one of my active projects right now. I’ve even heard economists and investors say that they don’t understand why any European with assets is still living in Europe. I didn’t think things in Europe were going to be getting this bad this fast. But such is life.
I could be wrong of course. Maybe Europe will be just fine; but I don’t see how that’s possible based on the data. Also, if you have an Alpha Male 2.0 business and financial structure in place, being self-employed with internationalized, location independent income, multiple sources of income, no employees, zero or near-zero debt, and a decent amount of savings that are not denominated in Euros, then you’ll be much better off living in Europe than the typical socialist European who will be sitting around waiting for his Mommy Government to take care of him.
The next few years are going to be very interesting (as in, difficult) for Europe. I hate to see my European brothers go through all this, but this is what you get when you embrace corporatist bankers, an unsustainable welfare state, and mass incoming migration. If the EU or the Euro crumbles in the next few years, it will be one of those times where I wish my predictions were wrong.