Armstrong Economics Blog/America’s Economic History
Re-Posted Feb 1, 2020 by Martin Armstrong
The Euro v Pound
Armstrong Economics Blog/BRITAIN
Re-Posted Jan 31, 2020 by Martin Armstrong
Despite all the yelling and threats on top of forecasts that Britain will fall apart without the EU, the markets do not reflect such a doomsday outlook. We do see 2021 and 2023 as important targets for turning points. The critical level will still remain at the 8250 level. If that is breached, then the political crisis in the EU will begin. The departure of Britain will leave a major hole in the budget of the EU which wants to fund its own army. As pressure rises on other members to chip in more money and raise taxes on their citizens even further, the European Project will remain a serious threat to the entire world economy.
Nigel Farage on the Meaning of Brexit
Armstrong Economics Blog/BRITAIN
Re-Posted Jan 31, 2020 by Martin Armstrong
Nigel Farage’s Final Appearance in the EU Parliament
Armstrong Economics Blog/BRITAIN
Re-Posted Jan 31, 2020 by Martin Armstrong
Brexit Day Has Arrived!
Armstrong Economics Blog/BRITAIN
Posted Jan 31, 2020 by Martin Armstrong
Welcome to Brexit Day! The British Mint is issuing a new 50 pence coin to mark leaving the EU at last. High-profile figures are already pledging to boycott the new coin. Alastair Campbell will boycott the coin because the slogan opposes his core beliefs. Philip Pullman will as well because, he says, it is missing an Oxford comma. These two people reflect the decline and fall of democracy. They simply refuse to accept the majority vote.
Of course, those who were in the “Remain” camp used every foul label they could find in the Oxford dictionary to desperately dehumanize those who voted to leave. The main label that stuck was to call them “racists” when the immigrants pouring from Merkel’s fatal mistake were claiming to be Muslim, which is a religion and not a race.
The “Remain” camp was even striking their own coins and selling them on eBay. These show the Queen holding her head when in fact the behind-the-curtain view was that she very much agreed with getting out of the EU.
Theresa May was a career politician who personally wanted to REMAIN. She negotiated half-heartedly and that was reflected in her abysmal management of the government.
The most interesting aspect to demonstrate just how corrupt the politicians were in Britain who kept arguing to REMAIN was the fact that they were supporting their personal power and careers. All someone had to do was chart the government’s own statistics that proved Britain’s economic growth has declined ever since Britain joined the EU back in 1973. The continental Europeans in government have always resented the British, for without them they would be speaking German today. That has always left a resentful taste in their mouths. It’s kind of like how they say the best way to get rid of a friend is to lend them money.
There will always be that resentment toward Britain. The French demanded that no EU member should issue coins that commemorated the defeat of Napoleon. There was a commemorative issue of coins, but they were not allowed to circulate pursuant to the demand of the French to join the euro. Resentments linger in Europe and always will. It is ingrained within the culture of so many hundreds of years of conflicts and war. The creation of the euro will never change history
Armstrong on Bloomberg in Canada on the ECM Turn
Armstrong Economics Blog/Armstrong in the Media
Re-Posted Jan 25, 2020 by Martin Armstrong
I will do mainstream media interviews outside the USA. I have just done yesterday a TV appearance on BNN Bloomberg in Canada. These are typically very short interviews so it is hard to get a lot into two 7 minute segments. Nevertheless, I gave it my best sho
Australia – The Most Aggressive Tax Authority in the World?
Armstrong Economics Blog/The Hunt for Taxes
Re-Posted Jan 24, 2020 by Martin Armstrong
Australia has been perhaps the most aggressive tax authority in the world. They are certainly competing to be #1. Besides stalking children to see where they go to school, and then demanded the school reveal how the parents pay the tuition, now they are going after insurance companies demanding to know what assets people are insuring.
The Australian Taxation Office’s new scheme is hunting money and assets to seize and tax. They are demanding the last five years’ worth of insurance policy information from more than 30 insurance companies. They are searching for “lifestyle assets” of the rich who they clearly hate with a passion. They are demanding details on clients who own yachts, any boats, fine art, thoroughbred horses, high-value cars and aircraft. They have targeted around 350,000 taxpayers.
This is the world we live in — “1984” has just been late to arrive. It makes you really understand the entire principle behind Atlas Shrugged.
Will Governments Respond Globally or Just Act Independently?
Armstrong Economivs Blog/Banking Crisis
Re-Posted Jan 24, 2020 by Martin Armstrong
QUESTION: Is there any comparison to be made between the current suppression of interest rates by the Fed and its suppression of interest rates in the 1920s? With sovereign defaults on the horizon, it seems that history could be repeating itself.
RK
ANSWER: The Fed’s attempt to lower rates in 1927 to help Europe backfired. It sent capital rushing out of Europe and into the US share market as well as real estate. The Fed had to then abandon its international policy and focus on domestic policy objectives. That will most likely take place again. Despite this crisis becoming a global contagion, each country will defend itself and adopt its own measures independently. That is where the risk will truly lie because politicians are used to running on promises of power. They are not ready to surrender domestic policy objectives for international ones. I suspect we will need such a crisis before we can understand we are all connected
Deadly Crash Involving Bus Carrying Covington Catholic High School Students…
January 25, 2020
This is terrible. For unknown reasons a car crossed the median on a highway in Kentucky and drove directly into a bus carrying students from Covington High School. The driver of the car was killed, some of the bus passengers were injured including the bus driver.
The students were returning home after the March for Life rally in Washington DC.
CALIFORNIA, Ky. — One person is dead and several are injured following a head-on crash involving a charter bus carrying Covington Catholic students, Campbell County police said.
The crash happened around 7:20 a.m. Saturday in the northbound lanes of the AA Highway at California Crossroads in Campbell County.
According to witnesses on the scene, a southbound car somehow entered the northbound lanes of the highway, striking the charter bus head-on.
“I saw a car come across the median and head toward me,” said Ricky Lynn, a witness who was also driving north. “I was able to get out of the way.”
The driver of the wrong-way car was pronounced dead at the scene. That driver’s name has not been released.
Two people on the bus were taken to area hospitals for treatment, and others suffered minor injuries. The motor coach driver suffered a minor knee injury, the bus company said.
The bus was full of Covington Catholic High School students and several parent chaperones, who were returning from the March for Life rally in Washington. The bus was one of four in a caravan, carrying a total of about 200 passengers. (read more)
The Strange Way Some People Think
Armstrong Economics Blog/Opinion
Re-Posted Jan 22, 2020 by Martin Armstrong
COMMENT #1: HILARIOUS!! A simple FOOL wanting to shoot the messenger.
“A closed mind gathers NO facts.”
Old Texas bumper sticker. “To hell with them, let them freeze to death in the dark.”
UD
COMMENT #2: Hi Mr. Armstrong….yes I agree, you are dangerous, but the real issue is “dangerous to whom ?” Certainly not to citizens who search for truth in their government.
HS
COMMENT #3: Hey Marty,
Not to worry you have many who value your counsel and experiences as a trader, history buff, visionary, lawyer and computer programmer. As a recovering social parasite that still works for the Federal government, it not easy sometimes to recognize the errors of your past thoughts and actions. I hope that you can continue to tip at the windmills of our linear thinking patterns with your work. Please don’t let your critics and enemies get under your skin too much. We always look forward to your next post.
Grace and peace to you,
JD
REPLY: No worries. I find these people just a joke myself. I refrain from publishing them because sometimes they are just so off the wall it is hilarious. They claim I make up the questions because I publish ones that are at least valid. So once in a while I will post some of these crazy ones just to show how nuts they can be.
I was in Philadelphia during the Occupy Wall Street Movement when they camped out by city hall. I was in the building across the street and came out wearing a suit and tie. One yelled at me calling me a “Corporate Liberal” and I just had to stop and ask just what the hell was a Corporate Liberal? He was stringing together two opposing concepts of evil big corporations and conservatives who called opponents liberal. I just had to laugh. Some of these are just beyond even trying to figure out what they are so angry about. Just life I suppose.
I really think we need to split the country and all the left should move left to California and the right should move to the right. Where you draw the line down the middle would be interesting. I am more Libertarian, so perhaps I should just leave. Maybe we should colonize Mars and just start all over.
Centinel2012 