Published on May 20, 2019
Armstrong Economics Blog/European Union
Re-Posted May 22, 2019 by Martin Armstrong
QUESTION: Hi Martin,
The Rome WEC was a real eye-opener for me. Thank you for coming over to Europe. Especially the reports you released in advance of the conference. “The Fate Of Europe” pdf was especially informative. You’re explaining the structural defects of the EU make it clear it really is a doomed project, and just a matter of time before it, helped along by the ECB, descends into chaos.
Upon arriving home in Sweden I noticed this poster for a Swedish MEP candidate.
”Lagom” is the Swedish notion of the middle way. Not too much, not too little. Basically, blending in and being inoffensive. On the one hand, it’s cute, on the other hand, it’s sad. He’s clearly passionate about his political philosophy, but even if elected, there is Juncker, Tusk, and Verhofstadt waiting in Brussels to dictate to him what he has to do, and the structural flaws of the EU that make it all moot anyway.
Rome had this quality of crumbling neglect about it, like nothing had been repaired in 20 years. Unlike Sweden, that dutifully reinvests a lot of the tax revenue it collects back in infrastructure, Rome appeared starved of money and dying.
What does the computer say about civil unrest and war in Europe? I have the gnawing feeling it’s coming.
P.S. Thank you for Socrates and your life’s work.
ANSWER: Oh yes. I am familiar with Lagom. My interpretation would be “just the right amount,” so he is a skeptic partially. Unfortunately, the tension should begin to become more pronounced starting in 2020 going into 2022. I am not sure it would be a war, but certainly a rising trend toward independence.
Armstrong Economics Blog/BRITAIN
Re-Posted May 21, 2019 by Martin Armstrong
There is a lot going on in Britain. Many fear that Jeremy Corbyn will now win because Theresa May has made a real mess of BREXIT. Consequently, the Telegraph is reporting that Britain’s wealthiest individuals are preparing to leave the country. The fear that Corbyn will take over Britain as the prime minister is rising. He is so left-wing that the #1 question coming from the UK is whether a win for Jeremy Corbyn could be the reason the computer has been projecting the fall of the British pound back to 1985 levels. It is clear that Corbyn just hates the rich. What he preaches has failed, but it does not matter. People like him just feel better hurting others.
Prime Minister May plans to submit another proposal but she is just resubmitting the same ideas rephrased. If she fails this time, the conservatives will ask her to resign. That could take place in June/July giving rise to some very interesting volatility overall.
Published on Aug 25, 2011
Armstrong Economics Blog/Australia & Oceania
Re-Posted May 20, 2019 by Martin Armstrong
Australia’s center-right government won a surprise victory over the left. Voters backed the center-right government in a slowing economy for another three years and rejecting the opposition’s progressive agenda which has been really pretty out there at times. Despite trailing in most opinion polls for years, Scott Morrison’s Liberal-National coalition won attacking Labor’s pledge to take tougher action on climate change and strip tax perks from wealthy Australians. Many are calling Labour’s loss for its leader Bill Shorten, the shock of all time up there with the loss of Hillary Clinton because the polls just got it wrong again.
The Australian election was held today; voting is compulsory as everyone over the age 18 is required to vote; turnout was greater than 95%… and all the media and pollsters are stunned, shocked, jaws-agape, as the conservative coalition has received a stunning, unexpected, unanticipated victory.
Australian Prime Minister Scott Morrison has won the election. Yes Alice, 2019 media in Australia look identical to media in the U.S. circa November 2016.
The economy, immigration and push-back against the insufferable climate-change nonsense appear to be the top issues that led to Morrison’s surprising win. None of the pollsters or media saw it coming. The BBC are stunned:
BBC – […] The final result of the election may not be known for some hours, but with more than 70% of votes counted the [Conservative] Coalition has won, or is ahead in, 74 seats in its quest for a 76-seat majority, with Labor on just 66 seats.
[…] Try finding someone who says they saw this result coming.
For well over two years, the coalition has trailed behind Labor in the opinion polls, and the assumption had been it would be Labor’s turn to govern.
But somehow Scott Morrison managed to turn things around at the 11th hour – and he did it largely on his own.
With some of his cabinet colleagues considered too toxic to appear in public on the campaign trail, ScoMo made this election about him, and his ability to be the trustworthy, daggy-dad Australia needed. (read more)
Labor leader Bill Shorten , who has led Labor since it lost office in 2013, conceded defeat and congratulated Morrison. Shorten’s losing moonbat platform was centered on creating a “fairer society”, similar to the social justice movement in the far-left U.S. Democrat party.
The labor movement planned to increase taxes on the wealthy and bring social justice demands to central government. Their agenda was counting on strong support from college-aged students and climate change activists. However, the majority of Australians saw the predictable economic damage that was certain from the proposals to raise taxes and institute the Australian version of the Green New Deal.
Australian left-wing media is going bananas….
The progressive movement is crying in the streets.
Published on May 10, 2019
Armstrong Economics Blog/European Union
Re-Posted May 15, 2019 by Martin Armstrong
In Hungary, the anti-EU movement runs intense and links Soros and his funding behind the curtain as the number one problem. There have been protests in Hungary implicating the fact that Soros has been behind everything. The anti-EU sentiment is rising ahead of the May 23rd elections. The main issue that has torn Europe apart is the Refugee Crisis.