Posted originally on Jun 16, 2024 By Martin Armstrong
While we must first go through some hard times, we will NEVER reform until most people see that this is NOT going in the right direction. It is unbelievable. I was willing to give the benefit of the doubt to Prime Minister Giorgia Meloni, who rose to power from virtually nowhere. People were fed up with the BS of career politicians and the collapse of so many businesses and turned to a fresh face who was not a fascist or even a neo-fascist. She’s a right-wing populist-nationalist of a type who seems to be naive and has been conquered by the Neocon agenda. She is more likely to engulf Italy in World War III, but that seems to be the European Agenda as a distraction from the crisis unfolding, and the Euro is drowning in fiscal mismanagement.
The Italian share market began to crash one week after the turn in the Economic Confidence Model on May 7th. The major resistance stands at the 35000 level, and that is where the bounce effectively hits a wall of resistance. Meloni’s insane comment that Russia will be forced to surrender if the Kremlin does not agree to the terms of peace that the EU dictates to Russia is just unimaginable. According to Meloni, she made this comment during the broadcast of the second plenary session of the peace summit.
“Defending Ukraine means uniting all the efforts of the international community to protect Ukraine. If Russia does not agree to Ukraine’s terms, we will force it to surrender. We need to set the minimum conditions for this discussion.”
Her total lack of experience is precisely what the Neocons have counted on. She has joined the cheerleaders for World War III and the audacity, if not total ignorance, of the fact that it was the West and Kyiv that started this war intentionally to force Putin into World War III so they could conquer Russia and engage in genocide. Ukraine is the MOST disgusting, corrupt, and untrustworthy country on the face of this planet, and they WILL use whatever means to start World War III.
I apologize to those in Rome that I could not stay longer to meet with Meloni, which many wanted to arrange. But based on her recent comments, it is clear that the Neocons would have told her not to meet with me anyway. She has joined the warmongering crowd. I just hope this was not the last time I will ever see the Roman Forum.
These failed leaders, who are clearly incompetent to drive a taxi, are steering the world into World War III. This insane confrontation with Russia appears to be heating up in July. Putin is the ONLY adult in the room. He desperately keeps warning is this where you want to go?
I have always loved Rome. I was surprised at how many restaurants I used to go to have been closed and driven out of business thanks to COVID-19. Sorry to inform Italian readers, but you are headed into a recession, and with Giorgia Meloni taking directions from the Neocons instead of addressing the economic issues, we have the worst crop of leaders in modern history around the globe all hell-bent on creating war. Instead of being neutral, she has thrown Italy into the target zone.
Posted originally on Jun 16, 2024 By Martin Armstrong
COMMENT: Mr. Armstrong, Thank you so much for coming to Germany. Your view is always the best, for it is not based, as you say, on personal opinion. I wish the government would listen and inform the politicians to adopt a new way of managing society.
H
ANSWER: Yes, I know what you mean. But as I have always said, after working and meeting with governments worldwide for over 40 years, they prefer to act in their own self-interest, defined as their personal power – not the benefit of the people. This illustration is of the German GDP in the Euro, followed by the timing array, and then expressed in US dollars.
Currency masks the real trends. I try to explain that, but as you know, most people in these meetings cannot grasp the concept. You are not common in government. There needs to be more like you. More than a simple one-dimensional view seems too complicated for them to understand. When I am gone, hopefully, they will be able to take what I have done without prejudice as to who developed it. That’s just the way it goes. They used to say a prophet is never accepted in his own land. Keynes was criticized in the 1920s. Marx was embraced only after he died.
As you can see, German GDP peaked in terms of real international value in 2007 with the Economic Confidence Model, and the Euro peaked in 2008. The high value of the Euro in 2008 reduced exports, and the recession began with that turning point on the ECM. The Pi Target on that wave was the precise day Greece turned to the IMF for a bailout, launching the European Debt Crisis.
German REAL GDP in international value terms will not bottom until 2030. The ECM turning point suggests that Germany is headed into a recession that overall will appear to bottom in nominal terms in 2028, but in real terms, it will extend into 2030.
Posted originally on Jun 5, 2024 By Martin Armstrong
We would like to thank our invaluable AE community for gathering together in London for the Economic Confidence Model seminar. I heard some say that the annual event has become akin to a reunion of friends. It is indeed a distinct congregation of concurring intellects seeking truth.
If you missed the seminar, there is still an opportunity to purchase a virtual ticket. This option will provide you with a complete video of the event, as well as the slides displayed during the presentation and special reports.
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