Some people thought we were crazy when we put a giant wind turbine on top of a floating spar structure and towed it out to sea. But it turned out to be the future, and the future is now. This year we made a giant leap forward as we installed and started producing electricity from the world’s first floating wind farm. The 30 MW Hywind Scotland pilot park will demonstrate the feasibility of future commercial floating wind farms that could be more than four times the size. This will further increase the global market potential for offshore wind energy, contributing to realising Statoil’s ambition of profitable growth in renewable energy and other low-carbon solutions. Visit our website to learn more: https://www.statoil.com
Armstrong Economics Blog/Climate
Re-Posted Oct 13, 2019 by Martin Armstrong
Our computer models have proven beyond a shadow of a doubt that there is absolutely no basis for human-caused global warming and that the climate has ALWAYS changed. There is no foundation to presume that the climate is being altered by humans. There have been previous periods where CO2 levels have been more than twice that currently.
We are breaking records for cold each year. Weather is changing and the next solar cycle our model is forecasting will be a lower activity level that the past wave and there remains a risk of things getting much more colder during the winters with swings to heat and droughts in the summer.
This usurpation of climate change to force communism/socialism upon society to justify government seizing control of industry and to punish wealth is a major fraud. It is being rejected in Asia and many see this as a political agenda to keep developing nations in poverty.
We are facing a very serious threat to our liberty from these Climate Change people and most of the supporters actually think they are saving the environment and are oblivious to the real agenda behind the fake research. It certainly appears that the West will decline and Asia will rise for the next cycle to be the Financial Capital of the World because the hidden agenda of the real communists are pushing Climate Change to take over the economy.
I even question whether Al Gore, who has no expertise in science, understands that he is being used for a covert agenda and the $100 million he is earning from Global Warming may end up in their pocket at the end of the day.
Armstrong Economics Blog/Climate
Re-Posted Oct 12, 2019 by Martin Armstrong
This is a good documentary on the subject of human-caused climate change. In a court of law, the evidence argued by the global warming crowd is absolutely a joke and in a real court of law, they would be charged with criminal fraud. This is an agenda which has been usurped by the Marxists who simply want to destroy the free market and impose their will to redistribute wealth so they do not feel inferior because other people have made money they only dream of having but either are too lazy to work or lack the talents to earn money.
This is the backdrop to people like Thomas Piketty, the French economist from communism’s birthplace, who argues it is not fair that anyone has more money than he does. Piketty wants to drive a stake through the heart of capitalism and restore Marxism thereby subjugating human rights. If it is unfair to discriminate against race, gender, or creed, then why is it reasonable to discriminate against people because of their wealth? To this crowd, a doctor should earn no more than a trash-truck driver. By earning more, you are suppressing others even if you try to help others.
We are facing a very serious crisis for the Marxists who have usurped climate as the new excuse to end the freedoms that were once guaranteed by the constitution we generally refer to as human rights. This is building into a serious issue for they then immediately attack anyone who disagrees with their agenda intimidating politicians around the world.
Armstrong Economics Blog/Rule of Law
Re-Posted Oct 12, 2019 by Martin Armstrong
In Alaska, attorneys for 16 young Alaskans have sued over state climate change policy. They are trying to shut down fossil fuels and arguing their case before Alaska Supreme Court justices. They are claiming that state policy, which promotes fossil fuels, violates the constitutional right of young Alaskans to a safe climate. They are claiming that human-caused climate change will be catastrophic unless atmospheric carbon dioxide declines.
If they have a constitutional right to a safe climate, which has never been defined and they could never prove is human-induced, then I should have a right to be free from Marxists trying to shut down airplanes, cars, and the industrial revolution. That is a denial of my right to be free from their subjugation. They simply want to seize the economy and impose central control all over again. They are communists using climate change as their excuse.
Armstrong Economics Blog/Climate
Re-Posted Oct 10, 2019 by Martin Armstrong
QUESTION: Marty, are you still in Asia because you wanted to miss this early snowstorm?
ANSWER: No, the crisis is Asia has capital in a state of concerned. Because of the problems in Hong Kong, there remain major concerns not just about the peg, but the future of Hong Kong. As I have said, we have 3 offices in Asia and clients on every side of this issue with questions.
I moved to Florida because (1) it was going to get much colder, (2) my lawyer told me to tell my family if I died in New Jersey, make sure my family dragged my body across the state border before they told anyone, and (3) my accountant made we swear in blood to get out of the state before it was too late.
As far as the cold is concerned, AccuWeather said this is definitely a “massive size and intensity of this snowstorm is unheard of for October…” I do not do well in cold and having to shovel my way out of a house. Civilization always expands with warm weather and contracts with cold.
As far as population migration is concerned, the #1 state people are fleeing from in New York. Also, Connecticut and Illinois are not far behind. According to recently released data from the US Census, about 38,000 more people left California than entered it in 2018. This is the second straight year that migration to the state was negative, and it’s a trend that is speeding up. Every year since 2014, net migration has fallen.
The interesting thing is as revenues decline in these state, they raise taxes and enforcement to make up the short-fall which in turn then send more people out. If a retail store sees a recession and sales decline, they run a sale to entice people to buy. The government is incapable of proper management. This is like a recession comes so the store doubles its prices to make up for the decline in prices. Dah
Armstrong Economics Blog/Economics
Re-Posted Oct 9, 2019 by Martin Armstrong
The internet reshaped the retail consumer world by eliminating many small stores and forcing big stores to close locations as online shopping exploded. Many small book stores and camera stores were particularly vulnerable. Now climate change is having a similar impact.
The strike with the United Auto Workers’ (UAW) and General Motors is not so much about pay raises. Instead, UAW members are deeply concerned that climate change and electric cars mean less employment. Most other automakers have come to the realization that the internal combustion engine will be replaced by electric vehicles. Exactly how fast, it is hard to say for it also depends on the political rhetoric to win an election.
Electric cars come with fewer parts, which means fewer people are needed for assembly and they are more prone to be produced by robots than combustion engines. Hence, the UAW is more concerned about losing jobs, not the pay increases
Armstrong Economics Blog/Politics
Re-Posted Oct 8, 2019 by Martin Armstrong
What is really driving the Democrats crazy is that they still refuse to comprehend why Trump was elected to begin with. He was an anti-career politician. Even the Republicans did not get it. This impeachment nonsense would stick ONLY if the people actually believed that Biden and Hillary were honest and Trump was wrong. But Biden’s son getting hired in Ukraine when Ukraine was seeking aid from the USA just does not look ethical regardless of the situation. Hillary’s emails and her brother getting a contract for a gold mine when he had nothing to do with mining just does not seem honest.
The general polls are showing that this latest scandal is just another trumped-up version of Russiagate against Trump. At the end of the day, they will need 2/3 of the Senate to remove Trump, which they will never get.
They have turned politics into a corrupt sewer and the stench is overwhelming the nation. There is just no return to a normal government that at least functions. From here into 2032, it will only get worse.
My concern is still what comes AFTER Trump! Our computer projected Trump as the winner long before the candidate was even selected. Our computer projected at the start of this 51.6-year wave (1985.65) that by 2016 the door would open for a possible third party candidate. That meant 2107.05 which was Wednesday, January 18, 2017. Trump was inaugurated on Saturday, January 21, 2017, 12:00 AM GMT+7. So we were close — off by 2.5 days for a forecast made 31.4 years prior ((1985.65 + 31.4) = 2017.05).
Even AOC overthrew a career Democrat they expected to be speaker of the House. She won for the very same reason as Trump — she was the anti-career politician. Those in Washington just do not comprehend that the people are fed up with all their lies and nonsense. This is BY NO MEANS a Republican v Democrat confrontation. We have moved beyond political parties but they do not wish to see it that way for it means having to accept responsibility for all their mismanagement.
You need not even be pro-Trump to see the incompetence in Washington. Instead of solving problems, the Democrats simply oppose whatever Trump does and seek to remove him. They are idiots for even if they regained the White House, the Republicans will do the same to them. Functioning government has ceased to exist. This is exactly what the computer projects into 2032.
From here on out into 2032, the government will get very aggressive because it knows it is losing control. I am very concerned for the government will attempt to seize control and tighten its grip.
Even if we look at the Pi Turning Point on the previous wave that began 1934.05 with Roosevelt confiscating gold, 31.4 years later was 1965.45, and again on Wednesday that week is when Vietnam started to become a warzone. U.S. Secretary of Defense Robert S. McNamara announced in Washington that 22,000 additional American troops were being sent to South Vietnam. The additional deployment would raise the number of U.S. soldiers and officers in South Vietnam to 72,000. That would eventually grow to 9,087,000 military personnel who served on active duty during the Vietnam Era with the peak in troop strength reached 543,482 (April 30, 1968). A total of 58,202 were killed in action with 303,704 wounded.
The Pi target 1913.85 was November 26, 1913. The previous wave that began 1882.45 fell in the middle of the two major acts: the Income Tax passed on October 3, 1913, and the Federal Reserve Act passed on December 23, 1913.
These Pi targets have been rather important political-economic events. Even in Mexico, 1913 was the Mexican Revolution.
Armstrong Economics Blog/Climate
Re-Posted Oct 5, 2019 by Martin Armstrong
COMMENT: Dear Marty,
in your blog today you write that politicians state we have allegedly only 12 years to live.
Please see this picture of the most read German yellow press paper „Bild“. They stated on front page of February 23rd, 2007: „Secret Climate Report: We have only 13 years left to save the earth!“
This comes due next year. If it were not about all the fear they are mongering I would call it ridiculous.
MS from Germany
ANSWER: The number of forecasts they have made that NEVER come true are just amazing, and yet the press loves to project these people as infallible. They are absolutely stupid for they do not even realize that they are being manipulated as a tool to remove their own freedom.
These reports are always “secret” to not panic the public. But that is to hide the fact that they are really trying to make sure the truth does not surface.
This is like handing a person a loaded gun who has no idea what it is or what to do with it. They will be lucky if they do not kill themselves since they do not understand what it even does.
Armstrong Economics Blog/HongKong
Re-Posted Oct 4, 2019 by Martin Armstrong
There is no question that the rioting in Hong Kong has been violent as protesters even set cars on fire. Business is very concerned for as this continues, it does threaten the shift of the financial hub to Singapore. We have clients on every side of this issue over here as we have three offices in Asia. So we have the concerns from all sides. There is a fear that if China is forced to send in troops that this may break the peg and result in financial business moving to Singapore. So the stakes are rather high over here.
Tony Tsang, the 18-year-old Hong Kong student protester who was shot in the chest by police at close range as he fought an officer with a metal pipe on Tuesday. He was charged with rioting. He faces a maximum 10-year sentence for assaulting a police officer. Police have urged the government to impose curfews as the violence continues to escalate. China has increased its troop strength on the border and the Hong Kong economy has been taking a nosedive.
The extradition bill that began the protests has been withdrawn. However, that is only one of their five demands. The protesters have also demanded an independent probe into the use of force by police; amnesty for arrested protesters; a halt to categorizing the protests as riots; and the implementation of universal suffrage.
The Hong Kong dollar peg will either break or be allowed to readjust and the two targets appear to be November and January. The ideal targets seem to be 789 and 797. This is when the risk will be at its greatest. Keep in mind that it could come prematurely in October or December. The key weeks ahead for turning points appear to be 10/07, 11/04, 11/18, and 12/02.
The View from Business
COMMENT: Marty, you’ve always been vigilant against biased news from FNF (Fake News Factories.) So I’m hopeful I’ll get an audience in you. In your recent blog “Hong Kong & Risks in Asia” (9/27) you’ve finally used the word “violent” to describe the rioting in my hometown.
As usual, you were the first to call it as it is, but then you hastened to add that the police threw tear gas, as if that had precipitated the violence! I must assume you’ve been fed the same fake news that we get here in the west, even though you’re currently in Asia.
The picture the FNFs painted of Hong Kong is a lonely cry for help. However, the flip side they don’t show is the destruction, business closures, loss of jobs, and fear for life and limb that the rioters have brought upon the silent majority. They’ve set fire to cars, homes, and MTR, shut down the airport, beat up tourists and the elderly, even stormed government offices and destroyed everything inside!
Try that on the White House and watch them drop you like flies! If MY police is faulted for “excessive force” in protecting us the same way, then the only thing “excessive” is the taxes I paid the government. To be sure, most Hong Kong residents would welcome universal suffrage, but we denounce terrorism and wish to restore peace and order. However, with the biased media fanning the fire, I can see civil war within the city of Hong Kong by your 2020 ECM turning point.
In summary, may I point out that in the past 3 to 4 decades, Hong Kong has prospered incredibly with the rise of China, and did so without even a semblance of democracy, under the Brits or under China. But what we did have was peace and order. We really like to have that back now. So if the world honestly wants Hong Kong to have something it deserves but isn’t getting, please stop fanning the fire. Hot heads (on both sides) need time to cool.
REPLY: I am NOT suggesting that the police acted first with tear gas. That was a response to the riots.