Eurozone Inflation Reaches New High – Recession Incoming


Armstrong Economics Blog/European Union Re-Posted Nov 2, 2022 by Martin Armstrong

Inflation in the Eurozone hit a new record in October, according to Eurostat who reported a 10.7% rise. That marks an increase from September’s 9.9% posting and an all-time high since Eurostat began compiling Eurozone data in 1997. The European Central Bank (ECB) attempted to curb inflations with another 75 bps hike last week. The ECB knows that inflation is here to stay. They recently changed their annual inflation target for next year to 5.8% compared to the 3.6% they were predicting three months ago. They can’t release the actual figures without causing a panic.

Economic growth “slowed significantly in the third quarter of the year and we expect a further weakening in the remainder of this year and beginning of next year,” ECB head Christine Lagarde warned. Inflation is hitting some countries harder than others. Estonia (22.4%), Latvia (21.8%), and Lithuania (22%) all experienced nearly double the average inflation rate this October.

The downturn will not be equal across the Eurozone. The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, is warning that half of the 19 countries in the bloc will fall into a recession. “Europe is affected more severely by the increase of energy prices. The heat on European economies is such that we actually expect half of the countries in the eurozone to experience at least two quarters of negative growth. In other words, a recession,” she said, without naming the countries,” Georgieva warned. She further stated that the IMF’s pre-pandemic projections compared to current projections differ by a loss of half a trillion euros.

“I am not going to sugar-coat it: 2023 will be tougher than 2022. Next winter for Europe may be even harsher than this winter,” she declared. “Why? Because European policymakers acted very swiftly to fill gas storage. If conditions remain as they are with Russia not providing gas to Europe, how is this gas storage going to be filled next year?”

Another question comes to light – can Europe remain untied amid a serious recession? The ECB will use the same strategy in an attempt to fix the broken system for the entirety of the Eurozone instead of looking at each individual economy. Let’s not forget that deeply indebted countries will only face higher costs that they likely will not be able to repay. The ECB dug its grave in 2014, and they do not have the tools to handle the current crisis. It is easy for Europe to appear as a united front when there is peace and prosperity. The real test will come when everything crashes down, and fairness goes out the window.

This is it! Last chance for PEACE before Putin launches massive Winter offensive | Redacted Live


Redacted News Published originally on Rumble on October 31, 2022

This weekend Russia called on the U.S. to come to the table for peace talks. At the same time the U.S. is sending a 15th round of weapons to Ukraine. A new report from Finland shows that many of these weapons are winding up in the hands of known criminals.

Public Confidence in Russia is Down


Armstrong Economics Blog/War Re-Posted Oct 31, 2022 by Martin Armstrong

The world forgets that war only benefits a select few who safely sit in their ivory towers while the general population suffers. Antidepressant prescriptions soared by 70% in the first nine months of 2022. The top comment online in response to this article began with, “I am sure some Russians are good, but….”

This would be akin to the world believing Americans are inherently bad due to our government’s part in Syria, Afghanistan, Iraq, etc. Newsweek reported that Russians spent $81.1 million in those nine months on antidepressants. In Moscow, 1,300 packages were delivered per 10,000 adults. So 13% of the city is being treated for depression currently. RBK stated that the increase in antidepressant usage is due to war, fears of shortages, and sanctions. Antidepressant spending also increased after Putin announced a partial mobilization of troops on September 21.

A Russian public opinion fund survey found that around 70% of the population experienced anxiety after the mobilization announcement. Around 35% of participants in this particular study reported anxiety during the week of September 18, but that nearly doubled the following week to 65%.

Not every Russian citizen is lining up to die for their country, and it is safe to say most do not want war. Human nature is the same wherever you go, but overall rhetoric has demonized Russians for simply existing.

Any aspirations for a future have been put on hold as Russians are uncertain if they will be met with the full force of NATO. Grocery stores look very different today from less than a year ago, as common brands have been replaced with obscure knockoffs and some products are no longer available. Hundreds of thousands have fled their country, but they are not warmly received. It is becoming increasingly difficult for Russians to leave their homeland, and those who are forced to stay fear what is to come.

Bolsonaro loses – Good Night Brazil


Armstrong Economics Blog/Politics Re-Posted Oct 30, 2022 by Martin Armstrong

COMMENT: Marty; Thank you so much for Socrates. Jair M. Bolsonaro lost to the left. I couldn’t believe it. Socrates had a turning point, higher volatility, and a Double Directional Change here in October and November. Looks like we will go the way of Argentina.

AH

REPLY: The currency should decline into 2023. The promises of the left will never be accomplished. Just for the record, Bolsonaro I can tell you that when he was at Schwab’s WEF, he told a friend of mine that they were all a bunch of idiots. Inflation will soar because also the currency will decline. Politicians are ignorant. They think they can do whatever they want and do not understand that we are all connected and thus they cannot reverse the international trend.

Zelensky Wants WWIII Bringing Death & Destruction to the Entire World


Armstrong Economics Blog/Ukraine Re-Posted Oct 30, 2022 by Martin Armstrong

With most con artists, you need to count your fingers after shaking hands. With the President of Ukraine Volodymyr Zelensky, you have to make sure you still have your arm. He wears the same clothes to project he is at war raising some to hope he at least takes it off to wash. Both Germany and Japan as well as the Swiss all apologized for war crimes – but never Ukraine.

Never in all my career of dealing with governments have I ever witnessed such a bold-faced liar as Zelensky. He addressed the students and professors of Yale University, and boldly had the audacity to claim that it is in Ukraine that the global fate of democracy is being determined. The Minsk Agreement called for the Donbas to vote on their independence. Ukraine has refused to allow that ever to happen. His claim that the fate of democracy will be determined only if Ukraine can destroy all Russians is just outrageous.

“It is important for the whole world that Russia loses now – in the war in Ukraine. When we win for ourselves, we will win for other nations whose freedom is potentially under attack: the ambitions of the Russian throne are known.” 

“On behalf of the Ukrainian people, I want to thank your people for the support you provide to our defense. Thank you to your leaders – President Biden, both chambers and parties of Congress, public figures and businesses who feel how important it is for Ukrainian democracy to endure.” 

Zelensky has refused to apologize to Poland for its war crimes. The depravity of Ukrainian is far beyond any of the worst horror films ever made. It has been documented what the Ukrainians have done like cutting out a baby from a mother’s stomach and sowing her back up after putting in a live cat. Zelensky REFUSES to acknowledge what the Ukrainians carried out. The Polish Association of Memory of Victims of Crimes of Ukrainian Nationalists documented 135 methods of torture and murder practiced by Ukrainian Nazis. Poland officially called the Ukrainian actions genocide. The Ukrainians have been protected by the CIA for decades ONLY because they hated Russians. They continue to protect the Ukrainian Nazis only because they are waging war against Russia. Every country has apologized for its war crimes with the single exception of Ukraine. Zelensky is an absolute disgrace as a world leader.

All the declassified documents confirm that the American Neocons have been lying about Putin simply because they want war. They told Zelensky not to negotiate peace. Zelensky has sold his own country like Judas for a handful of silver. He has refused to negotiate any terms of peace whatsoever putting his people in harm’s way all for the Neocons who want to simply destroy Russia at all costs.

Video Player

00:00

00:38

I have the same documents that were the briefings that reveal that Yeltsin turned to Putin BECAUSE he was not a communist. Yeltsin was being blackmailed with the Bank of New York case by the oligarchs and Republic National Bank’s Edmond Safra on the one side and the communists who filed an impeachment action to remove Yeltsin on the other. Yeltsin turned to Putin because he was against reestablishing the USSR and he was not an oligarch.  Anthony Blinken has repeatedly maintained the standard propaganda that Putin has “imperial designs” to recreate the USSR. All the declassified documents from the Clinton Administration prove that is also an outright lie.

The Minsk Agreement was to allow the Donbas to freely vote on their independence. They are ethnic Russians – not Ukrainians, Zelensky promised peace to get elected and has refused to negotiate for peace and has claimed democracy depends on Uktain destroying Russia when in fact he has refused to allow the Donbas to even vote. He only wants to destroy Russia.

This is a Climate Change War. The objective is the destroy Russia, and its energy production for that is 50% of the entire GDP, and they will then transform it into their idea of a vassal state subservient to the United Nations. You do not war World War III for a tiny piece of land that has always been historically Russian. Those who want to fly their Ukrainian flags in support, look around for you are condemning the future of your family for a war that they lied about from the start just like the weapons of mass destruction.

Nigel Farage on Britain


Armstrong Economics Blog/BRITAIN Re-Posted Oct 29, 2022 by Martin Armstrong