Tag Archives: BRICS

May 24 2019

Director of UK Charity Calls for Acid Attack on Nigel Farage


Armstrong Economics Blog/BRITAIN

Re-Posted May 24, 2019 by Martin Armstrong

The policy director of a UK charity that “campaigns to increase happiness” was fired after calling for Brexit leader Nigel Farage to be doused in acid. The battle between the left and right is really getting intense. Happy City UK’s Ruth Townsley commented on Nigel Farage being assaulted while walking in Newcastle where someone threw a milkshake at him. She tweeted: “Great that milkshakes have become a thing when it comes to racists in our midst. I’d prefer acid but milkshakes will do for now.” It is so interesting how they hurl labels of “racist” to justify violence when the entire issue of refugees is about religion and not a race

May 24 2019

May Could be Asked to Resign by June


Armstrong Economics Blog/BRITAIN

Re-Posted May 24, 2019 by Martin Armstrong

Prime Minister Theresa May could be forced to leave Downing Street by late June if she does not deliver a Brexit deal. Conservative Party sources are letting it be known that unless it becomes clear by the end of May that her plan stands a chance of being approved, she may be compelled to leave for the good of the country. They have already voted against changing the party rules that would allow another no-confidence vote this summer ahead of December.

PM May survived a no-confidence vote last December. However, they may change those rules if she fails again in May. Downing Street has set June 30 as its new deadline for a Brexit deal in the Commons. She could remove the divisive border clause in the hope MPs vote for it and send a new message to Brussels that it must be axed or changed if Britain is to leave the EU. Why she seems to prefer sacrificing her own country to the demands of Brussels leaves many in a desperate position.

Prime Minister May has been under pressure to renegotiate with the European Union by Conservative Brexiteers. EU negotiators have insisted that the UK’s Withdrawal Agreement cannot be reopened. Many called for her resignation from angry Brexiteers after a six-month extension deal was agreed at an emergency EU council meeting in Brussels. The delay until Halloween, with a ‘review’ in June, was a compromise solution. It was France who declined an extension for Britain.

 

May 24 2019

College and Housing Bubbles


Published on Oct 23, 2017

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Remember the mid-2000s housing crash that wiped out homeowners? Well, there’s another bubble getting ready to pop, and this one’s in student debt. Prof. Antony Davies explains. SUBSCRIBE: http://bit.ly/2dUx6wg LEARN MORE: Why Do We Have Student Loans? (video): Student loans skyrocketed from the 1980s to the 2007 recession. Professor Brian Domitrovic says this is a bubble that needs to pop. https://www.youtube.com/watch?v=ehn_F… 2016 Presidential Election: Student Debt (video): Forgiving student loan debt and increasing subsidies for higher education were popular ideas on the campaign trail in the 2016 presidential election, and they remain popular ideas today. Professor Don Boudreaux explains why these policy changes would lead to negative outcomes while failing to address the underlying issues at play. https://www.youtube.com/watch?v=pUpDD… How to Solve the Student Debt Crisis (video): Manhattan Institute fellow Jared Meyer talks about how innovation in the student loan industry could help solve the student debt crisis. https://www.youtube.com/watch?v=Anh-5… TRANSCRIPT: For a full transcript please visit: http://www.learnliberty.org/videos/co…
May 23 2019

Vancouver to Investigate Real Estate Buyers for Money Laundering


Armstrong Economics Blog/Canada

Re-Posted May 23, 2019 by Martin Armstrong

Premier John Horgan of BC in Canada was joined by Finance Minister Carole James and Attorney General David Eby at a press conference in Victoria, BC, where they announced plans to move forward with a public inquiry in light of recent findings on money laundering.

The real estate bubble in Vancouver was built on a tax-free principal residence exemption and greedy politicians who were eager to benefit however they could. Now that the bubble has burst, they need to blame someone other than themselves. They released a report claiming that dirty foreign capital was the cause of the real estate boom. The real estate market is now under investigation for money laundering. It had been obvious for a long time that capital was parking in Vancouver. Now the twist will be to investigate and see where the money came from. If they can determine it is tainted, they will confiscate the property. Now that the boom is over and money flow has ended, it is time to investigate everyone to see if they can pick up some extra cash with allegations of money laundering. That should help prices decline even further.

May 23 2019

British Elections


Armstrong Economics Blog/BRITAIN

Re-Posted May 23, 2019 by Martin Armstrong

Nigel Farage’s Brexit Party is poised to dominate the upcoming European elections in the U.K., according to spread betting firm Sporting Index. Nigel appears to be leading with his new party to take 28 seats. Prime Minister Theresa May’s Conservatives will win perhaps seven and Labour will take 13 with the Liberal Democrats coming in at about 12 seats. Of course, the Sporting Index predictions have been consistently wrong on their forecasts. As Nigel pointed out at the WEC in Rome, we were the only ones who got it right.

They made a forecast that was good on the trend. About two hours before the vote on May’s Brexit deal, the spread betting firm forecast she’d lose by 60 votes. She was defeated by 58. The Guardian ran the headline:

Don’t bet against the Brexit party winning the EU elections

The complete mess that PM May has created over BREXIT is just indescribable. She is determined to accept Brussel’s demands regardless of the consequences. She has even admitted that she could give into Labour’s demands to stay in customs union. Her entire policy seems to be to push it to the end and hope that the choice between a hard exit and her way will end with her victory. This has been a very dictatorial approach. PM May offered lawmakers a vote on whether her Brexit deal should be subject to a referendum, in a last-ditch bid to save it. Last time MPs voted on a second referendum, there was just a 12- vote difference, with 280 backing a confirmatory vote on a deal and 292 because Parliament is dominated by those who are against BREXIT as is PM May. This rising fear is that Senior Labour MPs are talking behind the curtain urging that Jeremy Corbyn should vote for a second referendum or face an unequivocal victory of Nigel Farage in the European elections.

May 23 2019

Rethinking Economics


Armstrong Economics Blog/Economics

Re-Posted May 23, 2019 by Martin Armstrong

The BBC wrote a piece on the failure of economics. “Many non-economists will say that the economists must have been stupid not to realise what was wrong with their subject. All that I’ve set out here should have been obvious,” the article commented. Indeed, the field of economics has been really a disaster because people are still trying to manipulate it and create the land of Utopia. They assume the power to control and eliminate the business cycle exists, which began with Karl Marx.

We have people focusing on the disparity of income who argue that is the whole problem. Nobody seems to have a mirror or is willing to just look at themselves. Nobody will even question why governments are borrowing year after year with no intention of ever paying anything off. We constantly have fights over raising debt ceilings that will always have to be raised. The question is never asked: “Do we have to revise both the monetary system and the political system to prevent massive civil unrest?” This battle waged by the left to subjugate the right only leads to violence.

May 22 2019

LAGOM – “Just the Right Amount” & European War


Armstrong Economics Blog/European Union

Re-Posted May 22, 2019 by Martin Armstrong

QUESTION: Hi Martin,

The Rome WEC was a real eye-opener for me. Thank you for coming over to Europe. Especially the reports you released in advance of the conference. “The Fate Of Europe” pdf was especially informative. You’re explaining the structural defects of the EU make it clear it really is a doomed project, and just a matter of time before it, helped along by the ECB, descends into chaos.

Upon arriving home in Sweden I noticed this poster for a Swedish MEP candidate.

”Lagom” is the Swedish notion of the middle way. Not too much, not too little. Basically, blending in and being inoffensive. On the one hand, it’s cute, on the other hand, it’s sad. He’s clearly passionate about his political philosophy, but even if elected, there is Juncker, Tusk, and Verhofstadt waiting in Brussels to dictate to him what he has to do, and the structural flaws of the EU that make it all moot anyway.

Rome had this quality of crumbling neglect about it, like nothing had been repaired in 20 years. Unlike Sweden, that dutifully reinvests a lot of the tax revenue it collects back in infrastructure, Rome appeared starved of money and dying.

What does the computer say about civil unrest and war in Europe? I have the gnawing feeling it’s coming.

BIK

P.S. Thank you for Socrates and your life’s work.

ANSWER: Oh yes. I am familiar with Lagom. My interpretation would be “just the right amount,” so he is a skeptic partially. Unfortunately, the tension should begin to become more pronounced starting in 2020 going into 2022. I am not sure it would be a war, but certainly a rising trend toward independence.

May 21 2019

Fear of Jeremy Corbyn Becoming Prime Minister in UK is a Threat to the Pound


Armstrong Economics Blog/BRITAIN

Re-Posted May 21, 2019 by Martin Armstrong

There is a lot going on in Britain. Many fear that Jeremy Corbyn will now win because Theresa May has made a real mess of BREXIT. Consequently, the Telegraph is reporting that Britain’s wealthiest individuals are preparing to leave the country. The fear that Corbyn will take over Britain as the prime minister is rising. He is so left-wing that the #1 question coming from the UK is whether a win for Jeremy Corbyn could be the reason the computer has been projecting the fall of the British pound back to 1985 levels. It is clear that Corbyn just hates the rich. What he preaches has failed, but it does not matter. People like him just feel better hurting others.

Prime Minister May plans to submit another proposal but she is just resubmitting the same ideas rephrased. If she fails this time, the conservatives will ask her to resign. That could take place in June/July giving rise to some very interesting volatility overall.

May 20 2019

Sweatshop Wages and Third-World Workers: Are the Wages Worth the Sweat?


Published on Jun 7, 2011

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Prof. Ben Powell discusses the economics of sweatshops. He begins with a few photos and personal travel stories to demonstrate typical working conditions in third world countries. He then discusses the economic forces that determine working conditions and wages. Looking at empirical data, he finds that sweatshop workers earn higher wages than non-sweatshop workers in their respective third world country. He concludes with recommendations to activists who want to actually help sweatshop workers. Credits: This lecture was delivered in 2009 at the Metropolitan State College of Denver School of Business, as part of the Exploring Economic Freedom Lecture Series, directed by Prof. Alexandre Padilla. This video was produced and directed by Scott Houck, and edited by Adrienne Christy. Video production provided by the Educational Technology Center at Metropolitan State College of Denver. Video used by LearnLiberty.org with permission.
May 20 2019

Australian Conservatives Win by Thin Margin


Armstrong Economics Blog/Australia & Oceania

Re-Posted May 20, 2019 by Martin Armstrong

Australia’s center-right government won a surprise victory over the left. Voters backed the center-right government in a slowing economy for another three years and rejecting the opposition’s progressive agenda which has been really pretty out there at times. Despite trailing in most opinion polls for years, Scott Morrison’s Liberal-National coalition won attacking Labor’s pledge to take tougher action on climate change and strip tax perks from wealthy Australians. Many are calling Labour’s loss for its leader Bill Shorten, the shock of all time up there with the loss of Hillary Clinton because the polls just got it wrong again.