Tag Archives: ECB

Feb 24 2017

Le Pen soars in French Polls to Top


Armstrong Economics Blog/France

Re-Posted Feb 24, 2017 by Martin Armstrong

Le Pen Marine

Man Washes AssMarine Le Pen has refused to wear a headscarf at a meeting with a Grand Mufti in Lebanon.  The incident is likely to be well received by their electorate in France. Ms Le Pen in the first round of voting in France’s Presidential elections in April, is expected to top the polls. When she was offered a scarf to wear to a scheduled meeting with the Sunni religious leader, the Grand Mufti Sheikh Abdul Latif Derian, she declined. “You can pass on my respects to the grand mufti, but I will not cover myself up,” she said. Le Pen has adopted the same approach as Donald Trump making her slogan – France First.

Meanwhile, the cultural differences of the refugees in Europe has been creating a firestorm. There has been a lot reported about 2000 refugees who raped 12000 European girls, which is not pedophilia as took place in Cologne, Germany, on New Year’s Eve 2016.

Now a video that has gone viral from Italy, showing a refugee washing his ass at a public fountain intermittently drinking while he wipes with the same hand.

And politicians wonder why people like Le Pen are soaring in polls? The politicians call this movement, which included Donald Trump, a “populace” movement that is beneath them, composed of stupid people who just do not know better as they do.

Feb 24 2017

EU Bailout of Portugal Has Failed


Armstrong Economics Blog/Sovereign Debt Crisis

Re-Posted Feb 24, 2017 by Martin Armstrong

Lisbon

 

This year, 2017, is the beginning of the Sovereign Debt Crisis. While Greece is popping up on the financial radar, the Euro rescue in Portugal has also completely failed to reverse the trend of the country. There has been no effective relief from the debt crisis in Southern Europe. The debt in Portugal is also once again as high as before the crisis of 2010. The 78 billion euros of the European taxpayers money did nothing to reverse the economic trend, but in fact the funds simply went to save the banks.

IBEUUS-Y TEK TO 2020 1-22-2016Politicians really should be criminally prosecuted for trying to manage an economy. They have no experience and their own political careers always come first. As I have stated before, when the Euro was being planned, the commission in charge attended our World Economic Conference in London. I warned them that the Euro would fail unless the plan consolidated all the debts of member states. They said they understood the problem, but that the European people would never vote for that plan and so they wanted to get the currency through first and deal with the debt later.

That Phase II never came and as a result, as the euro then rallied from 80 cents to the dollar to about $1.60, all PREVIOUS debt of  member states DOUBLED in real cost. Joining the euro effectively destroyed Southern Europe and the politicians still cannot figure this out. It is as simple as you borrowed a foreign currency to buy your house and then that currency double in price. You now owed twice the amount in your home currency.

Crisis-AheadMeanwhile, the new US government wants to put US first returning to the age of mercantilism. Donald Trump also fails to grasp that forcing Americans to buy manufactured products in the USA, is forcing the consumer to subsidize inefficient American labor. You cannot tinker with the free markets. Trump’s concept of world trade and jobs falls short of reality of what free markets are all about exactly why the Eurozone is collapsing.

Welcome to the world financial crisis. We can make it better – but we have to PREVENT politicians from playing with the economy.

Feb 23 2017

There’s Nothing Free


I do hate to disagree with Walter E. Williams but there is a problem with this argument which is since everything can be made cheaper in sweat shops overseas then it must follow that everything must be made overseas. The extension of that is that all work will be done somewhere else and all consumption will be done here; obviously that can not work; for there is no one working and and therefore there is no money to buy anything and the system collapse.

Feb 23 2017

Larry Summers – Who Admits He Cannot Forecast – Forecasts Trump


Armstrong Economics Blog/Armstrong Economics 101

Re-Posted Jan 8, 2017 by Martin Armstrong

QUESTION: Marty; Did you see Larry Summer’s comments on Trump. Is this guy completely insane? He says Trump is proposing things off the planet. Wasn’t it Summers who came up with the negative interest rates and supported repealing Glass Steagal?

ANSWER: Larry Summers is a classic example of how a PHD means absolutely nothing compared to real life experience. He had the audacity to say, “The vast majority of the companies who have large overseas cash also have substantial amounts of domestic cash.” Obviously, Summers has never advised a real company. If Trump makes it a 10% tax, any company who does not bring their cash home would be a short. EBay had two companies it wanted to buy domestically. It backed out of the deal because it would have to bring in cash from overseas and pay too much tax to make it worthwhile. That’s how much Larry Summers knows about the world.

Summers went further, “The reality is that cash that is brought home will be used to pay dividends, to buy back shares, to engage in mergers and acquisitions, to rearrange the financial chessboard, not to invest in large amounts of new capital. It is a chimera to suppose that there will be large increases in capital investment as a consequence of that repatriation.”

First of all, paying dividends and buying back shares will put money DIRECTLY into the hands of investors who will redistribute the funds. Summers tries to “stimulate” by handing banks billions with no strings attached in hopes that they will lend the money to people who want to borrow. Then he wants to impose negative interest rates to punish people for not spending or investing.

Larry Summers has publicly admitted he is incapable of forecasting the economy, so where does he get off saying this nonsense? Quite frankly, those who are watching their pension funds go bankrupt should sue this guy for his non-conventional idea of negative interest rates to “stimulate” the economy. He gave us the 2007-2009 crisis by repealing Glass-Steagall and supporting the bankers, and he set the pension crisis in motion with negative interest rates. Thank God Hillary lost because this clown would be in charge of screwing up the economy even more.

Feb 22 2017

Poll: Most Americans Oppose ‘Sanctuary Cities,’ Support Trump’s Travel Ban


Why should the tax payers be supporting the people that don’t even belong here.

Feb 22 2017

Cartoon Sums Up Why The Media’s REALLY Freaking Out Over Trump


Trump is not allowed to talk directly to the American people, its the medias job to tell the people what Trumps says; or so that is what the media thinks but Trump isn’t buying that so their pissed.

Feb 22 2017

*(WE ARE ALL LIMPOPO) – Unhinged Maxine Waters Calls Trump’s Cabinet a ‘Bunch of Scumbags’ and the ‘Kremlin Klan’


Maxine Waters does even know why she is saying what she is saying what a fool.

Feb 22 2017

RUSH: ‘Not My Presidents Day’ An Abject FAILURE


The thousands they forecast ending up be less than a hundred in most cities so it was a loser for the left.

Feb 22 2017

MSNBC anchor declares it the media’s job to ‘control exactly what people think’


Sadly way too many of the under 30 cohort have been brain watched in the public schools and are unable to think for themselves; so they get sucked into the black hole of the pop culture.

Feb 22 2017

The Socialism Diet: 75% of Venezuelans Have Lost an Average of 19 lbs


At some point the weight loss will start killing people … 😦