The G7 Nation Spending the Least on Healthcare


Posted originally on Sep 26, 2025 by Martin Armstrong |  

Doctors Medicine

One European nation consistently ranks last in healthcare spending among the G7 nations, and 14th among the European Union member states—Italy. The underfunded system has led to a rapid decline in services, a shortage of family practitioners, excessive wait times in emergency rooms, and lengthy procedure delays.  Regional inequalities in care are extremely prominent. One in 10 citizens or 5.8 million people have been forced to pay out of pocket for healthcare when their taxes should cover the expense, leading many to question where their taxes are being directed.

Italy allocated 6.3% of GDP to health services in 2024, well beneath the OECD (7.1%) and EU (6.9%) averages. The gap in per capita spending with other EU members hit €43 billion, and now, health providers are sounding the alarms that a massive structure reform must occur to support the structural integrity of the nation’s healthcare system.

“In Europe, Italy leads the poorest countries in per capita public spending: it is ahead of only a few Eastern and Southern European countries, given that the Czech Republic, Slovenia, and Spain invest more than us.” Until 2011, per capita healthcare spending in Italy was in line with the European average; then, due to cuts and defunding implemented by all governments, the gap gradually widened, reaching $430 in 2019. The gap widened further during the pandemic, when other countries invested significantly more than Italy; the trend was confirmed in 2023, with spending remaining stable in Italy, and in 2024, when the increase was lower than the average for other European countries,” Nino Cartabellotta, President of the Gimbe Foundation, commented.

Per capita spending on health care was $3,835 compared to the OECD average of $4,625. Other EU nations spend around $4,689 per capita and have seen a surge in investments in recent years. Germany, for example, nearly doubled its spending from $4,245 per capita to $8,080.

There is a blatant difference in care across Italy and the North-South divide. Milan is known for hosting the best hospitals and providers in the nation. Everyone is entitled by law to the same “Essential Levels of Assistance” (LEA), but in actuality, regions with fewer resources to guarantee the LEA face massive shortfalls in services.

It has been this way for over 100 years, where people from Southern regions often travel to the north for better service, shorter wait times, better doctors, and adequate staffing. Italy claims it has universal healthcare but then invests primarily in the northern regions who have more to provide in taxes. The difference is so profound that Southern Italians face higher levels of cancer and chronic illness and have a higher mortality rate than those living in the north.  One study published by the National Library of Medicine found that Italy had the highest disparity in regional care among all European nations.

If health were privatized, the matter may seem a bit more leveled, but poorer regions depend on the government for funding and the wealthier regions are forced to pay for those with less. The northern regions, like Lombardy, can cover up to 40% of their healthcare costs through regional taxes, whereas lower-income regions can only offer up to 5%. The corporate tax on productive activities (IRAP) varies by region as well. Half of national healthcare funding is derived from VAT taxes that are then redistributed among the regions. There are surcharges and taxes on nearly everything, and no one is quite certain how the government is allocating these funds since it is not going into health care.

Italy claims to share the same model as the United Kingdom with universal healthcare. The UK continues to pour into the NHS but it is still extremely flawed by design. I personally know someone in London who dialed for an ambulance when his relative broke their leg. Emergency responders told him they were unable to send an ambulance and suggested he find an alternative mode of transportation.

Politicians love to sell the idea of universal healthcare as a human right, but do not factor in the complexities of funding. On the surface, who wouldn’t want free medical care? The problem is government never manages anything efficiently. Once bureaucrats get involved, costs explode, quality declines, and corruption takes hold. These universal systems are collapsing with wait lists stretching for months if not years and doctors fleeing for better pay abroad. Rather than reform, governments either cut services to ration care or dump an excessive amount of money in the system only to see the same result with more money leading to higher charges.

Universal healthcare, like every socialist policy, ultimately leads to shortages, rationing, and higher taxes. It is not about “caring for people” but about expanding government power. The only sustainable system must be built on free markets and innovation. Political corruption and lobbying have ruined healthcare in the United States as hospitals, big pharma, and insurance companies scheme to charge asinine fees with no checks and balances. If you fall ill in America, you’ll lose your life savings, and if you fall ill in Europe, you’ll potentially lose your life.

US GDP Rose 3.8% in Q3


Posted originally on Sep 26, 2025 by Martin Armstrong 

GDP 3

US GDP grew at a 3.8% annualized pace in Q2, surpassing estimates of 3.3%, leading the press to cheer a strong and robust economy. By design, the GDP calculation counts net exports as a positive. When imports collapse, GDP rises even though that is a signal of weakened consumer demand.

Consumer spending rose by 2.5%, rising 0.6% from Q1, and overperformed compared to the 1.6% estimate. Again, the underlying cause of that rise is not consumer confidence. The price of goods remains elevated, and consumers are spending more on less. Household debt is now at record highs across every area, from mortgages to credit cards and auto loans. It is an illusion that higher consumer spending indicates prosperity.

The Bureau of Economic Analysis (BEA) accurately stated that the “primarily reflected a decrease in imports, which are a substraction in the calculation of GDP, and an increase in consumer spending. These movements were partly offset by decreases in investment and exports.” This does not mean companies are simply purchasing domestically due to tariffs.

The GDP calculation, albeit better than anticipated, does not indicate long-term strength in the economy. The decline in imports has skewed the figure in favor of government so it looks as if policies are working and the US is somehow immune to the global economic decline. The US cannot experience meaningful growth when demand in declining due a loss of confidence and debt is rapidly accumulating.

Trump Taking Us Into World War III


Posted originally on Sep 25, 2025 by Martin Armstrong |  

Trump advised by NEOCONS

The NEOCONS are advising Trump. All is lost. The computer will be correct, so buckle up. If September proves to be the high for the euro, things can change starting in October. Trump may think he can put pressure on Russia to stop the war, but he may get a reality check. He has no idea what he is playing with. These NEOCONS will NEVER accept peace with Russia. Their entire lives have been filled with hatred of Russians. Putin is well aware. There will NEVER be peace with the West, and Trump has just signed the death warrant for the United States. China will emerge as the Financial Capital of the world after 2032. Just like the London bankers couldn’t see that World War I would end the domination of Britain, they voluntarily got into a war that destroyed them all because of the ethnic hatred in the Balkans. History repeats. This is our turn.

Zelensky on Stage R

Trump is destroying our future for this?

I am embarrassed to be an American

Trump Surrenders to the NEOCONS – Bolton Won!


Posted originally on Sep 25, 2025 by Martin Armstrong |  

White House Logo

QUESTION: I heard you on a Podcast say you would meet with Trump if asked. If that could be arranged, would you do it?

OP

ANSWER: I seriously doubt that the powers that be in DC will EVER allow me to get close to Trump. I will be suicided if I step foot close to the White House. The NEOCONS have completely compromised Trump. I am very disappointed to say the least. The computer has never been wrong. He is being led by the nose to take us into World War III.

2025_09_25_09_51_36_NATO_Countries_Still_Tapping_Russian_Oil_and_Gas_What_to_Know_The_Epoch_Times

This is the total BS that NEOCONS put out – SANCTIONS, SANCTIONS, SANCTIONS. This strategy has NEVER worked, and Trump is following their direction. Cutting off buying energy from Russia will not stop the war. The end goal is always the same. Hurt the Russian people so much that they will rise up and overthrow their government, and then have a ticker tape parade and pin the highest medals on Dick Cheney, John Bolton, Bill Kristol, Tony Blinken, Victoria Nuland, etc.

Russia might as well push the button because there is absolutely no way the WEST will ever accept Russia, no matter what. They are only interested in conquering Russia and stripping it of all its assets. Sorry, I am not sure I would even want to waste my time talking to Trump. He is going down the path of a warmonger that everyone voted against. The NEOCONS have won.

Biden Picture in White House Replaced by the Neocon’s Autopen


Posted originally on Sep 25, 2025 by Martin Armstrong |  

Presidential_Walk_of_Fame_

Trump hangs a picture of Biden’s autopen in the new “Presidential Walk of Fame.” Perhaps he should also remove Bush Jr. ‘s photo and replace it with Dick Cheney.

Hunter Biden Pardons Decisions

Hunter Biden actually was participating in the decision process regarding pardons signed with an AUTOPEN, ex-White House chief of staff Jeff Zients told a House committee. AUTOPENs should be outlawed. They are counterfeit and we if a President can authorize a signature then in that time it takes to make a decision, he can sign it.

ECB: Keep Calm and Carry Cash


Posted originally on Sep 25, 2025 by Martin Armstrong |  

War drummer_clear

The European Central Bank (ECB) is urging citizens to “keep calm and carry cash.” The ominous message is a warning of trouble ahead. Bank runs, defaults, war, grid failures, pandemics—the current banking system cannot rely on what’s ahead. “Cash provides essential redundancy – a ‘spare tire’ – for the payment system,” the study’s authors write. “This redundancy is vital for any system, as no system is infallible.”

Indeed, no system is infallible. I have been consistently warning for decades that tangible assets are a necessity. Cash is freedom, which is precisely the reason that governments want to transition to digital and CBDC. Cash is anonymous, untraceable, and outside the immediate reach of bureaucrats. The entire fight against “money laundering” and the push to link biometric data to bank accounts is a direct assault on cash. Every penny will be tracked, and if they decide you owe taxes, they can simply deduct it without a trial.

Hoarding Euros

However, you cannot simply flee with cash in a suitcase as the majority of nations consider that a crime and will seize your money. Customs agents do not need evidence of a crime, and even if the courts clear you of wrongdoing, there is no guarantee you will ever receive it back. Money is whatever someone is willing to accept as payment. I have long advocated for silver coinage that is easy to carry and identifiable as one such alternative, especially valuable if the currency fails.

“The sustained demand for banknotes has been amplified by sharp increases in public demand during major crises, which highlights the unique role and attributes of physical currency,” the ECB states. The 2014-15 sovereign debt crisis in Greece led to massive bank runs, and people had no access to their funds. There were surges in withdrawals during COVID and at the start of the Russia-Ukraine wa,r and the ECB knows that banks simply do not have the liquidity to provide customers with cash in the event of a true bank run.

Central banks are issuing specific instructions for civil protection. “For instance, authorities in the Netherlands, Austria and Finland suggest holding amounts ranging from approximately €70 to €100 per household member or enough to cover essential needs for about 72 hours. Some jurisdictions, like Finland, are even exploring “disruption-proof” ATMs to ensure access during digital failures.” The ECB is keenly aware that trouble is around the corner.

European ECB Banking Crisis

The recent power outages in Spain and Portugal led to a significant disruption in the financial system. Grids will be targeted during times of war. Nations bordering Russia have seen a much higher demand for cash withdrawals, “with issuance levels reaching six to ten standard deviations above their respective historical norms.” The ECB reports that this level of deviation is “highly unusual,” but in times of panic, people hoard as a survival tactic. There was a 36% spike in daily net banknote issuance during the first month of the war. Expect this figure to multiply when it becomes obvious that the war is expanding beyond Russia and Ukraine.

Keep cash on hand for day-to-day needs, but remember that its use will be increasingly limited, and its portability across borders almost impossible. The real hedge will remain tangible assets that cannot be canceled by government. Next year will be devastating. If you are in Europe, the best thing you can do is get your affairs in order and leave immediately.

Obama Mounts High Horse to Debate Kirk’s Assassination


Posted originally on Sep 25, 2025 by Martin Armstrong |  

Obama Change We Can Believe In

Barack Obama will never miss an opportunity to juxtapose himself with Donald Trump as the pious president who preached peace. In reality, the extreme political divide of right v left began under Obama as he used divisive politics to split the nation into “us” vs “them.”

Obama was the first to label his political opponents as an “enemy,” as reported by the Washington Examiner. “Those extreme views were not in my White House,” Obama claimed in remarks to the Jefferson Society regarding the assassination of Charlie Kirk. “I wasn’t empowering them. I wasn’t putting the weight of the United States government behind them. When we have the weight of the United States government behind extremist views, we’ve got a problem.”

Obama Super Yacht

(Obama’s typical middle-class yacht)

Economic woes were blamed on the “top 1%,” a phrase that derived from Obama’s presidency following the 2008 financial crisis. “The gap between the wealthiest and the rest of us has never been wider,” he stated in 2011. He contrasted the struggles of “working families” with the “special interests” and “wealthy few” who benefited from tax loopholes and deregulation. “I believe in an America where opportunity is open to everyone—not just those at the top,” he preached during his first campaign against Mitt Romney. The Obama Administration was touted as the defender of ordinary “folks” who were suffering due to the greed of the “wealthy few,” a class that Obama himself is within.

Migrants.ObamavAdams
ObamaDeportation

“We don’t think government can solve all our problems, but we don’t think government is the source of all our problems—any more than are welfare recipients, or corporations, or unions, or immigrants, or gays, or any other group we’re told to blame for our troubles,” Obama stated during the 2012 Democratic National Convention where he pushed for Obama Care. “Government” was the same as marginalized groups like the LGBTQ+ community and immigrants, Obama declared, and anyone who disagreed with his policies was acting in a discriminatory manner. Closed borders? Racist! Voting against paying into Obamacare? Racist greed directed at marginalized communities.

Legacy media ran his rhetoric 24/7 across every platform, and that rhetoric has continued today into “progressive” ideology that aligns with socialist views. Donald Trump is certainly not the first nor the last president to take an “us” vs “them” stance. In contrast to Obama, Trump began his campaign by portraying government as the problem—drain the swamp and fire the judges. Notice how there has not been a wave of violent riots in the wake of Charlie Kirk’s assassination. The “MAGA extremists” are vocal but not violent.

The Tylenol Controversy


Posted originally on Sep 25, 2025 by Martin Armstrong |  

TylenolWarning

Robert F. Kennedy Jr issued a warning to the American public that there may be a link between Tylenol (acetaminophen) consumption during pregnancy and autism. Tylenol’s manufacturers, Kenvue and Johnson & Johnson, insist that there is no such link. The “anyone but Trump” crowd has taken it as an attack on women, with many liberals posting videos of themselves downing large doses of Tylenol on social media in what they believe is an act of defiance. Yet, Tylenol posted a message on X in 2017: “We actually don’t recommend using any of our products while pregnant. Thank you for taking the time to voice your concerns today.”

“Effective immediately, the FDA will be notifying physicians that the use of acetaminophen during pregnancy can be associated with a very increased risk of autism,” Kennedy declared. “Today, the FDA will issue a physician’s notice about the risk of acetaminophen during pregnancy and begin the process to initiate a safety label change.”

The public deserves to know of any possible side effects. Tylenol was previously considered safe to take during pregnancy in small doses, and that may still be the case for many women, but it is the FDA’s duty to warn consumers of any possible side effects. New guidelines will urge providers to suggest the “lowest effective dose.” Yet, there is absolute outrage surrounding questioning the science and the left is suddenly lobbying for Big Pharma for free.

Johnson & Johnson and Kenvue have quietly dealt with numerous lawsuits filed by parents who believe acetaminophen use during pregnancy led to autism and/or ADHD. Retailers like Walmart, CVS, Walgreens, and Target also failed lawsuits for selling the medication without the proper warning label. In re Acetaminophen – ASD/ADHD Products Liability Litigation (MDL No. 3043), was established in October 2022 in the U.S. District Court for the Southern District of New York, presided over by Judge Denise L. Cote. Hundreds of individual lawsuits were transferred there, with claims focusing on failure-to-warn under state laws. By 2023, there were 265 cases filed against the drug manufacturers, and that figure doubled by 2024. The majority of these cases were dismissed but one major federal MDL is ongoing.

Health has become political. No one is banning Tylenol or forcing women to experience unnecessary pain during pregnancy. The US health department is finally acting as an advocate for consumers and forcing transparency from pharmaceutical companies. If that offends you, you may also want to consult a doctor.

Gold – Dow & People Pretending to be Me.


Posted originally on Sep 25, 2025 by Martin Armstrong |  

Gold and IBM Share Certificate

COMMENT: Mr. Armstrong, I just wanted to thank you for your ground-breaking analysis. I was a gold-only bug, and you opened my eyes to capital flows, explaining that gold rises not due to inflation, but geopolitical tensions. You have been forewarned that when Europe is flirting with war, the capital will flee, and it will be on every boat to the USA. We have gold making new highs, and the Dow is also reaching new highs. Something the gold crowd always said the opposite. You said gold could test the $5,000 level due to war as soon as 2026, I believe. At the same time, others continue to claim that the stock market will crash and revise their forecasts with every new high.

I just wanted to say you are honestly making a difference. I know people steal your work and claim it as their own. I discovered some people created channels and pretend to be you on Telegram and elsewhere. I do not understand their game. You do not solicit money. I’m not sure if they are trying to ruin your reputation. I reported what I encountered to your staff.

I know you have more money than God because you don’t raise your prices, you don’t solicit money, and you don’t sell advertising.

Please do not get discouraged.

Cheers

FDS

REPLY: Thank you for bringing that to our attention. I am not sure what is going on with people pretending to be me. I DO NOT RECOMMEND ANY STOCK INDIVIDUALLY, AND I DO NOT MANAGE MONEY. If you want to know about an individual share that is on Socrates. Some funds trade based on Socrates, but sorry, – been there, done that. I am far too busy to manage money. I am honestly working seven days a week, from 7 AM to midnight, and I still can’t get ahead of the workload. Anyone pretending to be me, telling you to buy a specific stock or promising to manage your money, is a fraud. Let our staff know.

As far as the market is concerned, I will do a Private Post this week. There can be a brief correction in the share market after this week. But it still does not appear to be a major long-term bear market or crash. As far as gold is concerned, the key resistance is really $4500 for next year. Gold has to pass that, and then it would test the $5,000 level. Exceeding that level, the expectations will then jump to $10,000. It gets dicey after $5,000.

If I had more money than God, I suppose that means people wouldn’t contribute to any church.

Newsom’s Mask Ban Encourages Doxxing ICE Officers


Posted originally on Sep 24, 2025 by Martin Armstrong |  

Democratic-run states and cities have waged war on ICE agents over migration policies. The Department of Homeland Security (DHS) reported a 413% increase in violent physical assaults on ICE officers back in June, but that number has more than doubled to 1,000% due to the ongoing political rhetoric that these agents are kidnapping innocent people. California’s Governor Gavin Newsom implemented the first legislation in the nation prohibiting ICE agents from wearing facial masks.

“What are you afraid of?” Newsom mocked ICE officers as supporters cheered. These men and women have been doxxed online. Home addresses, names of family members, and in some instances, where their children attend school, are circulating on the internet. Certain Republic-led states like Tennessee and Florida have introduced legislation to ban doxxing practices. Florida routinely conducts check-ins and patrols to ensure the safety of ICE agents and their families.

Mobs of angry protestors commonly surround ICE raids, and violence ensues. Pictures of agents circulate online forums where deranged individuals seek out their personal information to stalk and harass federal agents. Democrats have encouraged the aggression. “Every single ICE agent who’s engaged in this aggressive overreach and are trying to hide their identities from the American people will be unsuccessful in doing that,” House Minority Leader Hakeem Jeffries (D-NY) said.

The “No Secret Police Act” implemented by Newsom is intended to act as a counter to “lawless immigration raids.” Newsom claims there are anti-doxxing laws in place in California.  “If you’re going to go down that path, do judges then start getting masked? Do elected officials start masking themselves? Does anyone that’s on the receiving end of modern day bullying as it relates to online activity?” Elected officials such as Newsom are surrounded by security at all times. ICE agents are offered no such protections and must physically protect themselves for assaults that seem inevitable in these blue-run areas that favor criminal behavior.

Newsom forgets that federal law will always supersede state law. The Supremacy Clause (Article VI) states that the US Constitution is the “supreme law of the land” that takes precedence over any and all state laws or constitutions.

His statements are purely political posturing and theater. No police officer would dare to arrest a federal law enforcement agent and risk public humiliation or potential criminal charges.