The Yellow Vests revolutionary political movement for economic justice in France has new competition.
Ironically, (or NOT) no one seems to mention the ongoing riots in France anymore.
Anyway, the stupid desperate politicians in France have recently passed what they call the GAFA tax.
Google, Apple, Facebook, Amazon are the focused targets.
GAFA is imposing a 3% tax on all business in France.
Of course, the US has promised retaliation.
This is far more serious than the “trade wars” of the past.
Governments are desperate.
And to them, the digital world looks like a bloody raw steak to a pack of starving wolves.
For whatever reason, France hasn’t learned their lesson from the Yellow Vests riots over the carbon tax.
Unfortunately, most countries are looking at imposing similar digital taxes.
There is something far more serious at stake in that a digital tax threatens the viability of the world economy going forward.
Translation: An economic decline on a global scale.
We’re so insulated here in the US – mostly because of our bought-and-paid-for-media – that we don’t see the freight train coming right at us.
Europe will be is already imploding. The dominoes in their banking sector have started falling.
Translation: All major banks around the world are connected and will eventually fall into the vortex.
Japan/China/Asia will follow Europe.
Suggestion: Stay away from major banks AND emerging market stocks.
Ironically (or NOT) our market will benefit from the money escaping most of these countries.
Governments around the world are desperate. And they NEVER ADMIT they’ve made a mistake.
Their default mechanism is ALWAYS to raise taxes. That’s why we’ll see more GAFA laws passed.
2019, The Political Year from Hell, will pale by comparison to the Chaos Coming in 2020.
Be sure to read our August newsletter to learn how to profit in Turbulent Times.