Tag Archives: ECM

Jul 28 2019

Is Inflation Inevitable?


Armstrong Economics Blog/Economics

Posted Jul 27, 2019 by Martin Armstrong

QUESTION: Mr. Armstrong is there any way we can not have inflation. If so how? If not what would you say 5% or more?
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ANSWER: It all depends on your definition. The type of inflation coming is more STAGFLATIONwhere prices rise due to cost-push (shortages) but there is a declining economic growth. The more familiar inflation is a DEMAND lead event because the economy is booming. Because governments are desperate for money, they keep raising taxes and are increasing enforcement. This trend is DELATIONARY for it reduces disposable income. The INFLATIONARY pressure comes from the rising costs which are set in motion by raising taxes.

Then we add the impact of the climate chaos creating shortages in food and that furthers cost-push inflation. The end result will be the shift from PUBLIC to PRIVATE where people will run away from government debt on all levels and move to tangible assets to survive.

Jul 25 2019

Black Vests Storm Paris


Armstrong Economics Blog/France

Re-Posted Jul 24, 2019 by Martin Armstrong

The Black Vests are rising up in France. This group is composed of undocumented Africans who are in France and demanding to stay. Hundreds of these undocumented migrants stormed the Panthéon in Paris and demanded the right to remain in France. They are primarily from West Africa and managed to get in pretending to be refugees from Syria. They call themselves the “black vests,” which is a reference to the yellow vest protest movement that spread through much of France earlier this year.

 

Jul 25 2019

Boris Johnson Wins Britain Right on Target


Armstrong Economics Blog/BRITAIN

Re-Posted Jul 24, 2019 by Martin Armstrong

Boris Johnson has been elected as the new Prime Minister of Britain and he has promised to take Britain out of the European Union “come what may.” Jeremy Corbyn says Labour will table a motion of no confidence, designed to force Boris Johnson from office “at a time of (their) choosing,” adding “it will be an interesting surprise for all of you.” That is the main concern that if Labor gets a hold of the government, Britain will see a massive exit of capital and Corbyn will single handedly destroy the British economy, which has been the concern behind in the decline in the pound sterling.

Boris Johnson beat Jeremy Hunt in the battle for the leadership of Britain’s governing Conservative Party winning 66% of the vote. Although the Conservatives’ working majority in Parliament is very small, it appears to be enough to ensure that Mr. Johnson will succeed Mrs. May as prime minister and Labor will not be able to stop that at this point in time.

What is very interesting is that our computer gave us two targets — May and July 2019. Prime Minister Theresa May said she would step down as leader of the Conservative Party and then as prime minister after repeatedly failing to get her Brexit plan through Parliament on May 24th, 2019. The next target was July, and here we have Boris Johnson elected. Now we are looking at October and December going into year-end.

Categories: BRITAIN
Jul 25 2019

President Trump Remarks During Oval Office Swearing-In Ceremony – Defense Secretary Mark T. Esper…


RE-Posted from The Conservative Tree House on July 23, 2019 by 

This evening President Trump delivered remarks during the swearing-in ceremony for newly appointed Defense Secretary Mark T. Esper.  [Video and Transcript]  The Senate voted 90-to-8 easily confirming Secretary Esper.

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[Transcript] – THE PRESIDENT: Well, thank you very much everybody. We have a very important moment in our country’s history, actually. And we had a lot of our great Republican senators in the White House, and I invited them over and many of them wanted to be here. And as you probably heard, the vote just took place, and it was 90 to 8. That’s a vote that we’re not accustomed to, Mark, I have to say that. So congratulations, that’s great.

But I’m honored to be here today for the swearing-in of our new Secretary of Defense, Mark T. Esper. I especially want to thank Justice Samuel Alito — highly respected and a great gentleman, a great man — for joining us to administer the Oath of Office. Thank you very much. Thank you, Sam.

We’re also delighted to welcome several of Secretary Esper’s family members and friends to the White House today, including his mother, Polly. Hi, Polly. (Laughter.) Boy, are you proud of him, Polly? You better believe it. Yeah. (Laughter.) His wife, Leah. Thank you, Leah, very much. And his three children — Luke, John, and Kathryn. Thank you very much. Congratulations, too, most importantly. Congratulations. That’s an incredible thing.

There is no one more qualified to lead the Department of Defense than Mark Esper. A West Point graduate — great student, actually — Secretary Esper served our military for 21 years, including in the Gulf War. He also advanced U.S. national security in government and in private sector, most recently as Secretary of the Army, where he played a critical role training and equipping our armed forces. That’s where I got to know Mark. And there was nobody that did a better job than Mark and there’s nobody that loves it more than Mark. And thank you very much.

He is a recipient of the Bronze Star and Combat Infantryman Badge. He holds a doctorate in public policy from George Washington University and a master of public administration degree from the John F. Kennedy School of Government at Harvard University.

I am confident that he will be an outstanding Secretary of Defense. I have absolutely no doubt about it. He is outstanding in every way. And we’re honored to have you aboard. And I would ask Justice Alito, please, to administer the Oath of Office. Thank you. Thank you, Judge.

(The oath is administered.) (Applause.)

THE PRESIDENT: Would you like to say something?

SECRETARY ESPER: Yes, sir, if I may.

THE PRESIDENT: Please.

SECRETARY ESPER: Well, thank you, Mr. President, for your kind words, for your confidence in me, and for this incredible opportunity. And thank you, Justice Alito, for administering the Oath of Office. I really appreciate you being here this afternoon.

I’d also like to Senate — to thank the Senate Armed Services Committee for its quick action on my nomination and for the strong bipartisan support that I received today from the entire United States Senate.

It is an honor of a lifetime to be appointed Secretary of Defense and to lead the greatest military in history. And I will do so with that same energy and commitment to duty, honor, and country that I have for nearly four decades since my early days at West Point.

Mr. President, it is a privilege for me and for my family to be here with you today. Thank you for your leadership and for your commitment to a strong national defense and to all of our service members. Our military has made tremendous gains in recent years thanks to your leadership and we stand ready today to take on any challenge.

And while our soldiers, sailors, airmen, and Marines stand guard each and every day, we will ensure their families are well taken care of.

On a personal note, I would like to thank my wife, Leah, who has been by my side now for 30 years as a military spouse herself; my children, Luke, John, and Kate; my mother, Polly; my in-laws, Tom and Von; and my sisters who join me here today. And everybody else who has been a steadfast supporter of me over the years.

Again, thank you, Mr. President, for allowing me to serve our great country once again, as Secretary of Defense. Thank you, sir. (Applause.)

THE PRESIDENT: Thank you, Mark. Congratulations.

SECRETARY ESPER: Thank you.

THE PRESIDENT: Fantastic. Proud of you. Come on over here.

SECRETARY ESPER: Okay. Leah?

(A certificate is presented.)

THE PRESIDENT: He’s going to be a great one. Thank you very much.

END 5:50 P.M. EDT

Jul 25 2019

The Real Adam Smith: Ideas That Changed The World – Full Video


Published on Mar 28, 2016

The Real Adam Smith: A Personal Exploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world. Norberg explores Smith’s insights regarding free trade and the nature of wealth to the present, where they are thriving and driving the world’s economy. In the second hour, Ideas That Changed The World, Norberg traces Smith’s insights regarding the benefits of free trade and the nature of wealth to the present, where they are currently in operation. He talks with some of the most distinguished Adam Smith scholars, as well as leaders of some of the world’s most admired companies to discover how Smith’s ideas continue to be relevant and drive the global economy today.
Jul 24 2019

Milton Friedman Speaks – Myths That Conceal Reality


Published on Jul 31, 2012

Five myths cloud our perception of both the past and the present. (1) The “robber baron” myth, which holds that in late nineteenth-century America there were powerful men who became rich at the expense of the poor. The reality is that they became wealthy by being productive, and that there is no other period in history which saw such a rapid and widespread improvement in the well-being of the average individual; (2) The myth that the Great Depression was caused by a failure of business, when it was, in fact, produced by a failure of government and specifically by the Federal Reserve System; (3) The myth that government in the economy has expanded in response to public demand, when, actually, the public has had to be sold “hard” for politicians to enact every major social program; (4) The “free lunch” myth, which forces the individual to pay more, no matter how the government raises money – by taxing individuals, by taxing businesses, or by printing more money; and (5) The myth that government, like Robin Hood, transfers wealth from the rich to the poor, when the reality is that the government usually transfers wealth and income from both the very rich and the very poor to those in the middle. Check out our Facebook page here: https://www.facebook.com/FreeToChoose…
Jul 24 2019

Boris Johnson Wins Party Vote Becomes Newest British Prime Minister…


Re-Posted from The Conservative Tree house on July 23, 2019 by 

Boris Johnson has succeeded in beating his nearest rival Jeremy Hunt for leadership of the conservative party in the U.K. thereby becoming the next Prime Minister. One of the priority challenges for Prime Minister Johnson will be navigating a successful Brexit.

A full three years after the British electorate voted to leave the European Union, the elites in Britain have continued to stymie the referendum in their effort to remain attached to the communal values of the collective society.  Thus gave rapid rise, recently, to the Brexit Party as a national force led by Nigel Farage.  It’s the UK version of ‘deplorables’ vs ‘elites’.

The British Parliament is filled with elected members who stand in opposition to the majority of the British citizenry.  It is amid this professionally political and elitist disconnect that Boris Johnson must now attempt to deliver Brexit, while the purchased politicians of both institutional parties will oppose his effort. [Sound familiar?]

London (AFP) – Boris Johnson won the race to become Britain’s next prime minister on Tuesday, heading straight into a confrontation over Brexit with Brussels and parliament, as well as a tense diplomatic stand-off with Iran.

The former London mayor easily beat his rival, Foreign Secretary Jeremy Hunt, in a vote of grassroots members of the governing Conservative Party.

He is expected to be confirmed as prime minister on Wednesday when Theresa May formally tenders her resignation to Queen Elizabeth II.

US President Donald Trump was the first world leader to offer his congratulations, saying: “He will be great!”

It is a triumph for a man who has always coveted the premiership. But Johnson, known for his jokes and bluster, is taking over at a time of immense political upheaval.

Three years after the referendum vote to leave the European Union, Britain remains a member amid continued wrangling in a divided parliament on how to proceed.

– ‘We’ll get Brexit done’ –

Johnson led the referendum “Leave” campaign and — after May delayed Brexit twice — insists the latest deadline must be met, with or without a divorce agreement with the EU.

“We’re going to get Brexit done on October 31,” he declared in a speech to party members in London, after winning 66 percent of almost 140,000 votes cast.  (read more)

Here is Johnson’s victory speech. [Prompted, just hit play]

Jul 23 2019

Middle East Chaos


Armstrong Economics Blog/Middle East

Re-Posted Jul 23, 2019 by Martin Armstrong

The Middle East has been in turmoil and Trump has stood his ground against the neo-cons. The UAE is trying to avoid involving its nation in the conflict with Iran and certainly sees no upside to turning its country into a battlefield between the US and Iran. Iran promised to talk to the Yemeni officials to avoid hitting targets in Dubai and Abu Dhabi, provided the UAE pulls out its forces from Yemen. The so-called “deal of the century” proposed by President Trump’s son-in-law Jared Kushner, which sought to deal with the Palestinian-Israeli conflict, was met with minimal interest. The $50 billion in aid to the Palestinians was view as just a bribe.

Meanwhile, Trump has been thwarting the neo-cons for he came out opposing their policies, stating with respect to Iran: “We’re not looking for regime change. We want them out of Yemen.” Those unfamiliar with the players in the Middle East should read our report on the region – The War Cycle.