From Gowdie Family Wealth (Australia)-
The Brexit vote, while not being the final straw on the debt camel’s back, has exposed the fragility in the system. Europe is in a weakened state.
Deflation is taking hold.
The cost of the socialist welfare systems in European nations add more and more public debt each year.
The refugee crisis is intensifying social tension.
There’s a growing threat to establishment political parties from anti-euro and anti-immigration parties.
The temporary removal of the gold standard in 1971 heralded in an era of ecstasy (enjoying a life beyond our means for far too many years), which is soon to be followed by one of agony (a prolonged period where we pay the piper).
Paying the piper, in my opinion, is the emerging big trend we are preparing our family wealth for.
A not-so-happy 45th anniversary.