Armstrong Economics Blog/Sovereign Debt Crisis
Re-Posted Oct 31, 2019 by Martin Armstrong
The Sovereign Debt Crises is almost here
The Sovereign Debt Crises is almost here
QUESTION:
Hi Martin,
I am originally from Saskatchewan and I still own farmland there. (Sask will separate along with Alberta). I currently live in British Columbia.
Given global cooling, earthquakes, the commodity boom, civil unrest, global war, Alberta Separation, the rise of China…..Where do I take my family and young son?
Thanks for all of this invaluable work,
NH
ANSWER: That is a difficult question to answer at this point in time. Normally, if there is a crisis in one part of the world there is always an alternative. This time, every place you look there is political uncertainty. There will be pockets of safe harbors. Alberta may be one if it separates from Canada. The issue stems from oppressive control coming from centralized governments that are not ready to reform. They will crackdown on society in a desperate attempt to retain power. There are some pockets in the United States, but we may be looking more outside the continent. So far, the best spot in Asia has been Thailand.
The Federal Reserve, as expected, cut rates a quarter-point. The Fed also warned that further moves to ease interest rate policy may be coming to an end. The rate cut of 25 basis points to a range of 1.5% to 1.75% has been the third cut this year, which Fed Chairman Powell characterized as a “mid-cycle adjustment” in a maturing economic expansion. The Liquidity Crisis that has emerged in the REPO Market has been deeply concerning behind the curtain as many remained clueless as to why it was even unfolding. Many analysts claimed the Fed was hiding something and US shares of banks tumbled when they were traceable to Deutsche Bank exposure.
This year’s WEC was interesting since every part of the world was in crisis and we have gone into great detail with respect to the REPO Crisis. This year’s attendance set new records for the number of people flying in from around the world which included Russia down to South Africa, Europe, North, South, and Central America, all of Asia from China and Korea as well as Japan down to Singapore and India. The cross mix from fund managers, pension funds, banks, to central banks and even heads of separatist movements from around the world provided for a very interesting cocktail party this year.
Even the third-day training session exceeded 400 attendees. We are looking at holding two conferences outside the USA in 2020 in addition to Orlando – Frankfurt, and Shanghai. Perhaps holding three sessions we can reduce the size of these events. When they reach 700 attendees they are getting just a little too big.
There was so much to cover this year we provided extensive materials because there was just no way we could have covered in detail all of the information when we have a REPO Crisis, Liquidity Crisis, Pension Crisis, Sovereign Debt Crisis, Monetary Crisis, and a Crisis in Democracy with rising civil unrest and growing separatist movements around the globe.
We want to thank everyone for all your loyalty and the show of so many who have been making this an annual gathering as if this were a university reunion.
Thank you very much. We will be posting photos in a special sector for attendees onl
On September 28, 1924, the New York Times reported that there was evidence that the Arctic had actually been tropical in the past. They reported that there was the possibility of a coming Ice Age. The NY Times reported: “NATURE is in a strange mood beyond the Arctic Circle, Glaciers are moving from their age-old beds, pouring greater quantities of ice into the sea than recorded history has known. Broad areas of land are sinking to new levels. A number of islands have disappeared.”
Then on March 27, 1933, the NY Times reported: “America in Longest Warm Spell Since 1776; Temperature Line Records a 25-Year Rise.”
There have always been overlapping forecasts that swing between global warming to Ice Ages. Journalists love to write alarming stories to capture the attention of readers. This has been going on since 1895. The difference this time has been that this issue has been seized by the socialists and used as the covert method to push their agenda to control the economy, end independent business, and redistribute wealth.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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