Armstrong Economics Blog/Politics Re-Posted Dec 15, 2020 by Martin Armstrong
Now that the Electoral College has voted for Biden, this is what makes him “president elect” not CNN. Unless Trump acts on the Executive Order where the agencies must submit a report stating that the election has been compromised. That would then allow Trump to freeze everything. But I see this as a long-shot. It would be historical. Attorney General Barr has resigned I believe because he was unwilling to provide such a recommendation. I have stated all along that I doubted that Barr was really on Trump’s side for he was protecting the Deep State. So he will leave this week raising more concerns about what has really been taking place.
The computer has been warning that we are headed into an economic recession into 2022 and it will strangely be the mid-term elections that will bring a lot to a climax. Biden has done the typical politician routine and promised the moon to the AOC left wing and to the right-wing in the Democrats they understand the game. Biden will turn more to his conservative wing and I doubt you will see him doing much for AOC and the squad. This may leave the BLM movement turning now against Biden when they see that what you hear is not what you get.
Nevertheless, we must be prepared for some real chaos into 2022. The secret deals cut with the Democrat governors from Pelosi has been that is they crush their economies to overthrow Trump, they will bail them out. Indeed, she tried to slip in a bailout package that would have covered all the state pension funds. Trump had that removed. She also pushed for digital currency, and Trump blocked that as well. With Trump gone, Biden would have no problem with those proposals so we may see the end of physical paper money on the table. However, digitizing the dollar will be a real serious issue because 70% of paper dollars circulate outside the country and have been used as hedges against their own governments.
So get your trading gloves on. We have interesting trends for the next two years that will require skills.