Tag Archives: U. S. Moral relativism

Aug 11 2016

Thomson Reuters Leak on over 2 million records of People & Firms they say are Questionable


Armstrong Economics Blog

Re-Posted Aug 11, 2016 by Martin Armstrong

Reuters Leak

There has been a major leak of a list of “suspected” people who maybe criminals with links to profiles individuals and businesses suspected of ties to organised crime and terrorism. This leak online has serious implications and was the result of  a list which emerged from a Thomson-Reuters who has engaged in a due diligence claimed service called World-Check. The question about the validity of such a service certainly involves privacy concerns. There is also some serious implications that if they claim someone has some connection to anything, is this true or not and does this prevent someone from doing business to renting an apartment. What are the sources of their information? All of this comes into question.

Aug 11 2016

Italy’s Referendum


Armstrong Economics Blog

Re-Re-Posted Aug 11, 2016 by Martin Armstrong

Mario Renzi

QUESTION: Mr. Armstrong; You said other nations would follow Britain. It appears that Italy is doing so with their referendum. Is this correct?

You are very famous in Germany by the way.

Thank you.

KG

ANSWER: Yes. Prime Minister Matteo Renzi has said that a victory in the poll would end Italy’s questionable political system which has prevented any government completing a full term since the Second World War. This may actually be part of the shift in politics coming in Italy. Nonetheless, a defeat will mean the end of the line for pro-Brussels direction of Italy. This referendum is all about changing Italy’s 1948 republican constitution which is legally required for popular consent.

This is a major political gamble for the pro-EU centre-left government akin to BREXIT. The opinion polls are showing many of the 50 million voters are undecided and the “No” camp gaining momentum in what will be a very close campaign. Support for opposition parties who want to leave Brussels have been certainly emboldened by Britain’s historic decision to leave the EU which is growing and the battleground will be this referendum.

Renzi may be forced out as was the case with David Cameron. Italy’s highest court gave the green light to a referendum that Prime Minister Renzi says will either guarantee political stability with staying in the EU or he will resign if voters do not approve the constitutional changes he hopes for.  The high court validated the more than 500,000 signatures required for the referendum. Now, the government has 60 days to set a referendum date which may come in November or as late as December. The referendum is most likely going to be held after parliament approves the 2017 budget, a draft of which must be presented by Oct. 20th, 2016 and approval by both houses would take about a month.

The protracted political uncertainty is a cloud hanging over all of Europe. It has been the mad ruch into Germany 10-year paper at negative rates showing that people are just parking money. This is not a question about making a return. They are buying the German paper assuming the euro will break and they will get Deutschemarks once again.

The actual reform proposed by this referendum would shrink the upper house, cutting the number of senators to 100 from 315, and stripping it of powers over the budget and its ability to bring down a government. Instead, it would have oversight of local, rather than national, issues. Renzi supports this to prevent the upper house from stopping his agenda. It would increase the powers of the federal government while diluting the 20 regions with respect to national policy. This will be accompanied by a new two-round voting system for the lower house. Here, Renzi says the changes should finally make Italy a governable country.

The rising opposition parties are very anti-immigrant. The Northern League in particular, warns that Italy is being stripped of any democratic checks thaty were designed to prevent a strong national government and the rise once again of some political strongman like Fascist dictator Benito Mussolini. This is becoming the hot topic and this is a vote on the future of Renzi and Europe

Aug 10 2016

5 Explosive Secret Intelligence Memos Everyone Must Read


We should never have done what we did for the next result was the creation of ISIS. Obama and Hillary created a monster and now they can’t stop it and this will bring Hillary down so at least there was some benefit.

Aug 10 2016

Europe on the Brink of Complete Chaos?


Armstrong Economics Blog

Re-Posted Aug 10, 2016 by Martin Armstrong

european_union_3d_map_1600_clr_17749

There are so many incidents with the refugee crisis in Europe that the blog could be filled with that subject alone. Even the press in Germany is starting to shift after countless incidents from knife attacks to a gang beating and robbing British tourists in the same square in Cologne, Germany. Not to mention the media’s failure to report things like the attack on women in Cologne and the protest in Frankfurt during the opening of the ECB that set the city on fire.

Up until now, the common view of the German press has been that it is THEM against the PEOPLE, because they are protecting Merkel at every corner. News blackouts have been the name of the game to the point that the people view the press as just an arm of government. Attacks by refugees are widening from France to other nations including Ireland.

It is as if the fate of the world could easily spiral downward now. All it will take is perhaps a flood of knife attacks throughout Europe to divide the people squarely against the refugees. Meanwhile, tourism is collapsing in Europe, not to mention Turkey. This will have a further deflationary impact upon the economic data that will be published by year-end.