And the phrase is sometimes used in investment circles. One investor can be heard advising another, “Don’t buy that stock—they’re underfunded, have poor management and an unsustainable business plan. You’d have three strikes against you even before you started.”

If the investor receiving the advice is wise, he would, of course, avoid the stock as he would avoid a plague. Although there might be some chance of success, the odds are so thoroughly stacked against him that he’s almost certain to lose his money.

But what of an entire country where the investor has three strikes against him before he starts? What if some country were to pass a series of laws that were so draconian that, whilst it may be possible that the investor might survive, the odds are stacked so much against him that loss is almost a certainty?

An excellent example of such a country is the home of baseball—the USA. Once regarded worldwide as “the land of opportunity,” the US has declined precipitously in recent decades and, as developed countries go, has become one of the world’s dodgiest jurisdictions in which to retain wealth.