President of China Xi Jinping made a statement last year that has sparked a number of comments over the past few months. Xi Jinping said: “The world is on the verge of radical change. We see that the European Union is gradually falling apart, how the US economy is crashing, and that all this will […]
Although the Asian cash markets were reasonably strong today we did see a slight wobble in the Shanghai index. Japan cash closed +0.35% and Hang Seng even better at +0.85% but China’s main index closed down -0.8% all in relatively low volume day. However, this was ahead Trump’s first major press conference. Most of the […]
Trump has broken his word and is by no means draining the swamp — he is filling it. He has really betrayed a lot of people by his nomination of Gary D. Cohn as Director of the National Economic Council, which is a policy-making position for domestic and international economic issues. The one legal firm in New York […]
After the holiday in Japan yesterday the JPY resumed its strong recovery and with it saw a decline in the Nikkei. The yen traded close to the 115 handle whilst the Nikkei lost 0.8% on the day. Concerns are still that the DOW continues to reject the 20k level and is having a psychological effect […]
The famous Redwood tree tunnel fell during one of California’s worst storms and caused massive flooding. I walked through this tree when I was a kid. I couldn’t find the family photo of that event, so you are spared this time. This flooding has been massive, but it is a typical precursor to big earthquakes. One theory […]
QUESTION: I wonder if you might clear something up regarding the fabled corporate cash hoard parked overseas? Must this be held in non-USD form thus taking an FX risk,albeit presumably hedged? I gather any USD parked in a foreign bank is immediately transferred to a US bank, likely in NYC — would this be regarded as repatriation? I […]
Angela Merkel and her party remain clueless about the economic history of Germany which has been made apparent through her insistence upon austerity that is tearing the EU apart at the seams. This is like blaming Trump for Hillary’s loss. Merkel’s belief that the quantity of money is the cause of inflation has been proven […]
The demand for safe-haven JPY returned with a vengeance today even though Japan was on a national holiday (Coming of Age Day) but in the futures markets the Nikkei lost almost 1.3%. The Yen traded stronger all day and in late US trading was seen slightly under the 116 level. Both the Shanghai and Hang […]
The Moscow’s Emergency Situations Ministry told residents on Friday that temperatures would drop as low as minus 35 degrees Celsius (-31 Fahrenheit) during the night of Jan. 7-8, warning that abnormal cold may affect the city’s power grid in some areas. Moscow is also experiencing the deep freeze here in January.
QUESTION: Mr. Armstrong; I read your work on the euro from the nineties and how it would fail. Everything you laid out unfolded over the the subsequent 20 years. I assume you have discovered historical attempts to create a euro type system before aside from Napoleon. Can you point to any other references? HF ANSWER: History repeats […]
