Matteo Renzi Defends Rival Giorgia Meloni

Armstrong Economics Blog/Italy Re-Posted Sep 30, 2022 by Martin Armstrong

The media is clearly in the wrong when politicians from the other end of the spectrum are coming out to condemn fake news. Former Italian PM Matteo Renzi (2014 to 2016) is putting his political views aside and defending newly-appointed PM Giorgia Meloni. Countless articles have compared her to Benito Mussolini, claiming she would bring fascism back to Italy. Renzi said that this is fake news.

Renzi took to CNN, a platform that immediately compared Meloni to the deceased fascist dictator, and defended her character. Renzi admitted that Meloni is his rival and that they will continue to fight in the political realm. “There is not a danger for Italian democracy,” Renzi said on CNN. “She’s my rival, I’m her rival, we will continue to fight each other, but the idea now that there is a risk of fascism in Italy is absolutely fake news.”

Renzi said that Italy has not changed its position on Russia and that NATO should not worry about any problems from Italy. Does the media recall what the Italians did to Mussolini in the end? They hung him and his mistress in the streets and brutalized their corpses. Italians certainly do not want a repeat of Mussolini’s fascist reign, nor do they want to give the government more control. They also do not want to give the EU control or abandon Italian culture for a melting pot of European values set forth by Brussels. Renzi is more in favor of the EU than Meloni but admits she is a sovereigntist, which is precisely why she is the new prime minister.

CBO: Student Loan Forgiveness will Cost $400B Over Next 30 Years

Armstrong Economics Blog/Politics Re-Posted Sep 30, 2022 by Martin Armstrong

The Congressional Budget Office (CBO) is a nonpartisan agency that simply calculates the numbers. The Biden Administration is constantly at odds with the CBO as they repeatedly point out why handouts are never free. Biden’s pre-midterm bribe to cancel student debt will come with a huge price tag — $400 billion.

Borrowers earning under $125,000 annually will receive a $10,000 debt cancelation, while Pell Grant recipients will see a $20,000 reduction. Everyone else will receive a bill in the form of taxes, and even those with loans forgiven will suffer. The CBO calculated the cost of the plan, which will cost $20 billion from September to December 2022 alone. The Biden Administration initially said that the plan would cost $240 billion over the next ten years. Yet, the CBO estimates that the cost of loan cancellation will continue for the next three decades for a total of $400 billion.

Yes, this will cause America’s deficit to rise. Instead of working to lower tuition costs or predatory student lending practices, Biden simply passed along the bill to the taxpayers and pretended the money owed simply vanished. Colleges can simply raise their fees with no repercussions. Glass Stegall has not been reinstated, and those facing bankruptcy cannot erase their student debt.

Glass Stegall was repealed under the Clintons, and even the Clintons’ top financial advisor, Larry Summers, is against Biden’s student loan forgiveness program. “It consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college. It will also tend to be inflationary by raising tuitions,” Summers wrote on his Twitter in August. This is simply a gimmick to buy voters who do not understand the repercussions.

Biden’s Brain is Deteriorating

Armstrong Economics Blog/Politics Re-Posted Sep 30, 2022 by Martin Armstrong

President Joe Biden recently thanked Rep. Jackie Walorski (R-IN) for her recent work. “Jackie, are you here? Where’s Jackie?” he asked. “She must not be here,” he continued. The problem is that Jackie is dead. She died in a car accident over the summer. White House press secretary Karine Jean-Pierre tried to cover up Biden’s gaffe by saying Joe simply had her at “the top of mind.”

A reporter went further and asked Jean-Pierre why the president of the United States was actively searching the room for a dead woman. “I have John Lennon on top of mind just about every day, but I’m not looking around for him,” a reported rebuffed. Other reporters shouted to ask follow-up questions, demanding that the American people deserve to know if the man leading the country is suffering from cognitive impairment.

Another “gaffe” happened again a few days later. Biden was speaking at FEMA headquarters. He refused to speak with Governor DeSantis as the hurricane was approaching Florida. I could only imagine what would occur if those two had to debate. During this incident, Biden suddenly walks away from the podium as his handlers whisper, “Mr. President!” He tried to pull it off by shaking hands with people in the room, but this man was clearly lost. It is time we demand that Biden takes a cognitive test to determine if he is fit to lead.

Hello from Florida & Fake News

Armstrong Economics Blog/Opinion Re-Posted Sep 29, 2022 by Martin Armstrong

Thank you for all the emails of concern. I am fine. My dog is fine. Never lost power and nothing damaged. All of the newscasters go to the worst possible spots they can find and just stay there showing the very same backdrop all the time. The problem with such sensational broadcasting is that the vast majority of people no longer trust the media so when they play up a storm, so many people no longer trust the forecasting and do not evacuate.

This was Anderson Cooper standing in waist deep water while the camera crew was on high ground from 10 years ago. This is standard. I see the same reporter standing in the same spot on FOX with boats piled up. They never move from the most dramatic spots so you never see the whole region. It is no longer about reporting news. It is also about drama.

The people in South-West Florida were hard hit. By Tampa, the wind blew the water out of the bay, when it came back, it was just normal. No 10 ft wall of rushing water.

I really wish all the news channels returned to reporting the news instead of you will die in 3 hours so tune in so we can tell you the minute you will die so you can make your last phone call.

It has gotten to the point that you just do not know what to believe any more. That is causing people to lose their lives because they perhaps really should have evacuated, but did not because the last time the news dramatized the event then nothing happened.

I suffered no flooding, no power outage. From about Tampa northward on the West Coast, we were generally untouched. My cousin moved down here from New York, and he too was perfectly fine and never lost power.

Where Ian made landfall, that is the place people were hard hit. Inland, low lying levels were flooded because of the heavy rain. It would be nice if ALL the news channels realize that they have a responsibility to report a balanced view, not fixed on one spot that is the worst possible place to dramatize the news to get viewers. That is what is costing lives – crying wolf as they say. Just report the truth. They are costing lives with this dramatization. The last one CNN reported there would be a huge 10 to 15 wave, that amounted to 1.5 feet. So you stop listening after a while.

Hurricane Ian Recovery Update

Posted originally on the conservative tree house on September 29, 2022 | Sundance 

I don’t even know where to begin.  Hopefully this hotspot holds up long enough to transmit.  Thanks Ad Rem for earlier.

First things first, myself and family are okay.  We are blessed and fortunate.  Thank you for all your thoughts, prayers and well wishes.

For those who are familiar with Hurricanes, Ian was unique; painfully slow and painfully unique.  However, it had similarities to three previous storms, Frances (location), Michael (intensity) and Andrew (aftermath).   What made Ian very unique was the duration.

Normally there is 1 hour scary, 1 hour hell, 1 hour scary.  Soup to nuts three to four hours.   For Ian, that was just the first half.  With a start time around 1:30pm and a finish time around 9:30pm this one was brutal.  That’s why so much infrastructure failure.

When I saw the search and rescue flight path overhead at daybreak this morning, I knew the barrier Islands were catastrophic.  Indeed, Fort Myers beach, Sanibel Island, Upper Captiva and Pine Island all suffered topography changing events.   People will reevaluate living on barrier islands.

The Sanibel Causeway is destroyed.  The three spans still exist, but the spoil islands which held the road are totally wrecked.  No way on/off the island by vehicle.  The Pine Island bridge also failed.  The only way to Sanibel or Pine Island is by boat.  The dozens of air national guard flights today were all heading to those locations.  Regional Southwest Airport (RSW) remains closed except for rescue flights.

Several major piers are also gone.  Fort Myers Beach, Cape Coral, Pine Island.  At this moment 98% of Lee County, Florida is without power and there are major utility infrastructure failures.  Electric sub stations completely wiped out.  Utility water pumping stations also ruptured and failed.  Cell phone towers also wiped out.

The entire shrimp boat fleet docked at FM Beach was destroyed.  Boats now sit on houses with trailers on top of the boats and mobile homes from somewhere on top of the houses, boats and trailers.

Most people are shell-shocked at the scale of the damage from this storm.  Indeed, I doubt there is a community in Southwest Florida that not massively effected.  Marco Island, Naples, Bonita Springs, Fort Myers, Cape Coral, Punta Gorda, Port Charlotte and all of the inland communities all feel the impact from a major hurricane evdident.

Locally, it’s even more stunning.  We haven’t even left the neighborhood today and couldn’t even if we wanted to.  Roads are blocked by trees and debris.  When you think of debris, normally we think about small bits of stuff the size of a shopping cart or smaller.  Ian moved debris weighing tons.  Chunks of concrete from who-knows-where can be found randomly all over.  Concrete slabs from collapsed seawalls are blocks away from the water.

Every direction of wind was just as intense as the direction before it and we felt every direction.  As the front of Ian made debris, the backside then had ammunition for wind weapons of jaw-dropping scale.  The sounds of that “stuff” slamming into homes was just incredible.  Casa del Sundance has serious steel shutters with double drilled anchor bolts and several of my shutters were hit by something turning them into crash test discards.  Just, well and unreal amount of wind power.

Like many others, we had our roof compromise in the second half of the storm. Massive trees that withstood Charley and Irma were no match for Ian’s rage.   Thankfully, many people evacuated.  If you are one of those people, stay put.  Wait until after the weekend before making a decision to return home.  Heck, there ain’t no power or water anyway – and word on the street is no gas for miles.

Like hurricane Michael, this was a storm of total utility failure.  It could take weeks, depending on the neighborhood because the transfer and sub stations were hit hard.

Today was all about debris removal and that work will obviously continue.  It’s easy to be overwhelmed, but industrious people doing the next step, then the next, is the way to get it done.  How do you eat an elephant…..  One bite at a time.   Lots of bites to go.

As noted, the coastal areas took it worst. My gut tells me there are still places we have yet to hear about.

Another odd thing about this specific storm, an alarmingly fewer number of generators running.  Easily 75% fewer generators running in the aftermath around me.  Perhaps because the outcome was just too bad to try and inhabit while recovering; perhaps more evacuated this time; perhaps with the economy means fewer financial resources to try and cope.  Regardless of reason, the drop in the number of people running generators is odd.

Tomorrow, we continue to put a few more layers on those callouses.  After mostly securing the immediate homestead, we can now look to help others.   This is going to be one long recovery effort.

Thanks again for all the well wishes.  Love to all,


For A Friend (and all who now suffer from Ian)

Posted originally on the conservative tree house on September 29, 2022 | Menagerie

For Sundance, who never fails to give thanks, in all circumstances. He has posted versions of this many times.

Posted in Uncategorized

Who Bombed The Pipeline? (Ep. 1861) – The Dan Bongino Show

The Dan Bongino Show Published originally on Rumble on September 28, 2022

The most likely Bomber is Joe Biden, in my opinion Centinel2012

Interview: The World According to Martin Armstrong

Armstrong Economics Blog/Armstrong in the Media Re-Posted Sep 29, 2022 by Martin Armstrong

Click here to listen to my latest interview with Kerry Lutz from the Financial Survival Network.

Commentary from Kerry:

The world is a mess and things aren’t getting better. There’s no end in site to the Ukraine war and the situation in Europe keeps getting worse and worse. We sit down with Martin Armstrong to get the latest update. He sees gold going much higher in Q1 2023. The loss of faith in all governments keeps increasing. China is a lost cause as well. But the US is a beneficiary of everyone else’s misery. That’s just the way the world works.

Martin sees a major backlash coming in the aftermath of the 2022 mid-term elections. His model is questioning whether or not the 2024 presidential election will even take place. What could possibly happen to stop it and does it matter anyway? This is a must listen to interview.

NATO Preparing for World War

Armstrong Economics Blog/War Re-Posted Sep 29, 2022 by Martin Armstrong

I know for a fact that the US military is deploying some reservists to Romania to train European soldiers. The reservists have been told that the war will escalate, and as a soldier told me, “things are getting really bad over there.” They will be training the Europeans to fight against Russians for at least six months. NATO is constructing a battlefield in Romania for this extensive training. The Cincu military training facility already exists but is undergoing a massive expansion.

This is precisely what Russia feared long before entering Ukraine. I reported that Russia knows it is fighting the West and not simply Ukraine. NATO has increased its presence around Eastern Europe this year and has no plans to de-escalate the situation. There are over 40,000 troops on the ground across Eastern Europe, and more are set to arrive. In fact, NATO will establish four additional “multinational battle groups” in Hungary, Romania, Slovakia, and Bulgaria.

Colonel Vincent Minguet, the commander of the NATO Combat Group in Romania, said the plan is for “the creation of a permanent, stronger battalion, with more heavy weapons, to prevent any aggression or any destabilization in Romania.” Alarmingly, Minguet believes that training will last for four or five years. They are planning for a long-term ongoing battle fought among numerous nations, aka a world war.

Who Sabotaged the Nord Stream Pipelines?

Armstrong Economics Blog/War Re-Posted Sep 29, 2022 by Martin Armstrong

I rarely believe in coincidences. Everyone is perplexed as to why there are sudden leaks in the Nord Stream pipelines in the Baltic Sea connecting Russia to Germany. The first explosion was recorded on Monday near the Danish island of Bornholm. The second blast happened later that evening and was so powerful that scientists equate it to a 2.3 magnitude earthquake.

Numerous people are claiming that Russia sabotaged the pipeline, but numerous clues indicate someone else was at play. Radek Sikorski, Poland’s former minister of national defense and EU Parliament member, posted an image of the leak with the caption, “Thank you, USA.”

The USA is certainly no stranger to targeting Russian pipelines. In January 1982, Ronald Regan and the CIA planned to destroy the Soviet Union’s economy by using the technology available at the time to create a massive explosion. The US wanted to block Europe from importing Soviet Western gas amid the Cold War and was willing to take extreme measures. Thomas C. Reed, a former Air Force secretary who served in the National Security Council, wrote a book entitled “At the Abysss: An Insider’s History of the Cold War.”

“In order to disrupt the Soviet gas supply, its hard currency earnings from the West, and the internal Russian economy, the pipeline software that was to run the pumps, turbines, and valves was programmed to go haywire, after a decent interval, to reset pump speeds and valve settings to produce pressures far beyond those acceptable to pipeline joints and welds,” Reed writes. According to the Washington Post, Reed later commented that it was the “most monumental non-nuclear explosion and fire ever seen from space.”

What about other nations in Europe? No one is claiming responsibility, but they are stating that it was a deliberate act of terrorism. “It is the authorities’ clear assessment that these are deliberate actions -– not accidents,” Danish Prime Minister Mette Frederiksen said Tuesday. Sweden’s Prime Minister Magdalena Andersson said, “it is probably a case of sabotage,” and they are not ruling out any scenarios. Polish Prime Minister Mateusz Morawiecki also called it “an act of sabotage.” “The era of Russian domination in the gas sphere is coming to an end,” Morawiecki declared. “An era that was marked by blackmail, threats and extortion.”

The United States is also claiming to be perplexed by the issue. White House Press Secretary Karine Jean-Pierre said she would not “speculate on the cause.” US President Joe Biden hinted at the cause in February 2022. In the video above, Biden tells reporters that if Russia invades, “then there will be no longer a Nord Stream 2. We will bring an end to it.” When a reporter asked just how the US would complete the task, Biden ominously said. “Trust me, we will do it.”

This was clearly an act of sabotage, but who was the culprit? The West is pointing to Russia, while Russia is pointing to the West. Something does not add up.