This blog post originally appeared on RealMoney Silver on March 6 at 7:43 a.m. EST. The frustration, fatigue and the fear of market participants is palpable. In this environment, no one is smart; some are just less stupid. The weight and the pressure have intensified as the investment wounds run deep. I have noticed that many are angry and are spending a lot of time articulating what's wrong, with the ambiguity of policy and the lack of swiftness in its execution being the most often mentioned factors. That criticism is coming from both ends of the aisle. While I am not a policy maker -- I am a hedge fund manager -- it has reached a point in time when I would now prefer to be in the mode of making suggestions as the sickening stock market decline steepens and solutions are sought. I did that in yesterday's column, and though some agreed with my recommendation, many (especially those of a free market capitalist view) disagreed. The most popular response had the word "preposterous" in it. This morning, I would like to offer another proposal that could serve to address some of today's economic woes. For a long time, the U.S. has had a policy of issuing green cards rapidly to foreigners willing to invest in a business here. Few have taken the option because:
- a.) Canada has a lower amount of investment needed; and b.) Canada has not the stipulation of taxing green card holders on all income generated overseas.