QUESTION: Martin, if Europe and Japan have destroyed their bond markets, would it be a good idea for them to get the government out of the bond market and have short term rates be floating in the free market? The free market would probably help since they don’t know how to move rates correctly. RG ANSWER: […]
Socialism is dying because governments have made promises they cannot keep. Now when people expect that they will be there, they suddenly find the promises have been constantly revised. They always point to the rich and how they will make them pay. Everything who thinks they cannot possibly be the rich cheer, but at the […]
Chicago still just got 2.5 inches of snow cancelling numerous flights. Snowing this late in the season is concerning on our models. As I have warned, the winters will get longer and the summers shorter. This can cause severe reduction in the production of food in the years ahead. The snow over the weekend at […]
QUESTION: Martin, Washington State DOT is planning to bond against toll revenue generated by express toll lanes on or highways here in Western Washington. These express toll lanes were created by our DOT by stealing a general purpose lane and turning it into a toll lane. The pricing strategy is to keep the roads moving at […]
COMMENT: Dear Mr. Armstrong, Like many of your readers, I have been unable to watch “The Magnitsky Act: Behind the Scenes” for months because of its ban here in the US. Today, I was finally able to watch it at the following link. Not sure how long it will be up but I thought I […]
BoJ Statement 4-24-2019 The Great Financial Unknown is now upon us. After 10 years of Quantitative Easing, the European Central Bank (ECB) in Europe owns 40% of the national debts in the EU and it can neither sell them nor stop buying without creating a Panic in Interest Rates. Likewise, the Bank of Japan (BoJ) […]
OK. New York City can’t pay its bills and politicians think chasing Amazon out of town because they wanted a $3 billion tax break actually saved $3 billion when that was predicated on them paying some taxes, has now moved to ban hot dogs to save the environment? Mayor Bill de Blasio approved a complete insane $14 […]
COMMENT: Well you said this winter would be long and the summer shorter. It is still snowing here in the heart of America. It looks like your computer is correct again. Instead of funding research for billion dollars to pretend there is global warming, they should just subscribe to Socrates. Would save a heap of […]
The term “iliad” in Greek mean a series of miseries or disastrous events and “Odyssey” meant a long wandering or voyage usually marked by many changes of fortune. Welcome to the Economic Iliad & Odyssey. What we are facing is truly extraordinary. There is absolutely NO economic theory from Adam Smith to Keynes that ever addressed negative […]
