Janet Yellen will finally step down from her role as Treasury Secretary in January, leaving a massive mess for her replacement, Scott Bessent. The budget deficit surpassed $36 trillion under the Biden-Harris Administration, with Yellen touting that the US had an endless supply of funds to spend and imaginary success of Bidenomics. As head of […]
Bernie Sanders chastised his own party for abandoning working-class Americans following Kamala’s defeat. Perhaps this is why Sanders is now open to reaching across the aisle and collaborating with the Trump Administration. Such an act would have been unfathomable to the Democratic Party mere weeks ago. The GOP was to be hated and demonized. Nothing […]
QUESTION: Mr. Armstrong, thank you for the WEC. Many people feel this was your best. Your solution to save our country was spectacular, and you deserved the standing ovation. My question is that you said that Trump and RFK would not listen to you despite everything you have done. You did not explain why. May […]
Nine of the 12 Federal Reserve districts reported a decline in economic activity in August, up five districts from the July Beige Book report. Our system has warned that we are entering a period of stagflation, where inflation remains high but GDP declines. Now, the Fed is reporting that two-thirds of the US economy is […]
Biden finally admits the so-called “Inflation Reduction Act” was never about reducing inflation pic.twitter.com/9V7u0FJxnV — Trump War Room (@TrumpWarRoom) September 5, 2024 PSA: Joe Biden is still the president of the United States. Biden has been hiding on a beach in Delaware ever since his disastrous debate with Donald Trump that hard-launched Kamala Harris […]
The Bank of Canada voted to cut rates by 25 bps to 4.25%, marking the third consecutive rate cut. Inflation has allegedly slowed to 2.5% as of July, and Governor Tiff Macklem said that was reason enough to drop rates to attract investment. “If inflation continues to ease broadly in line with our July forecast, […]
https://www.armstrongeconomics.com/wp-content/uploads/2024/09/TrudeauDonuts_64b1f1.mp4 I commend the restraint displayed by this Canadian citizen. Failed Canadian Prime Minister Justin Trudeau attempted to campaign to workers in Ontario who were utterly underwhelmed by his presence. Trudeau praised the 25% tariffs he placed on Chinese steel. “So that’s going to help me keep my job?” the citizen remarked. No, tariffs […]
Vice President Kamala Harris unveiled her first economic agenda – price controls. Reminiscent of the Soviet Union, Harris believes that the government should invade the private sector and determine the price of goods. Kamala believes that corporate price gauging is to blame, particularly at the grocery store. Where have we seen this before and what […]
The coming economic collapse will not resemble the Great Depression. Yes, we are in a recession – but it will not be reminiscent of the Great Depression that began in 1929. For you see, the landscape is entirely different now. America was transitioning from an economy based on agriculture to industrialization. About 40% of the […]
The Federal Reserve Bank of New York released data this week indicating that American credit card debt has reached a new high of $1.14 trillion. A separate report from TransUnion has found that the average American is carrying $6,329 in personal credit card debt, a 4.8% uptick from last year. The vice president of TransUnion […]
