By Weekly Wealth Digest
11 December 2013
This past weekend a country with one of the highest living standards in the world saw rioting in the streets!
According to Credit Suisse, Singapore ranks 8th in the world in terms of personal wealth. Since the year 2000, Singaporeans’ wealth has more than doubled.
It is clear that this is a very prosperous city state that is the gem of Asia. I know that when I have looked for offshore gold storage in the past, Singapore comes up as one of the top areas along with Hong Kong, Zuric, Perth, and Toronto.
However, on Sunday a riot was sparked in Singapore, the first one in more than 40 years. Long story short, an Indian national was struck by a bus and killed, the surrounding neighborhood went out by the hundreds to set fire to at least 6 police cars and the ambulance that responded to the young man who died.
Now I don’t know every detail of race relations in Singapore, but I do know from what I have read that about 25% of the workers are transient workers, the city state is made up of immigrants, of which about 8% are Indian.
This is definitely something to think about living in the United States. Many people think that the U.S. is safe from mass riots across the country due to economic civil unrest, but I don’t think anyone should rule out widespread rioting in the streets.
America is like a pressure cooker as my friend Doug Casey has often noted. We have 49% of the population not paying taxes, 23% of the population not only not paying taxes, but being paid to live here in the U.S. No matter what you believe or how much money you have, our health care system is screwed up. Our welfare and warfare state is robbing the middle class, and the entitlement ponzi-schemes are robbing our young of opportunity.
A lot of these thoughts and more are weighing on Americans, will they snap one day and take their grievances to the street?
I think there is a good chance during this depression, with nearly 48 million people on government food stamps, long term unemployment near records, and real unemployment closer to 20%, anger and frustration is building up.
A recent poll by ABC News and the Washington Post revealed that the dissatisfaction with the U.S. government was at 80%.
There are a lot of legitimate grievances that can add a lot of pressure to people who are barely making it or who are literally sliding out of the middle class and into poverty.
Weekly Wealth Digest Dec 11, 2013 – Are You Ready for Riots?.