The most serious problem we face has been the Marxist-Keynesian presumption that government is even capable top manipulating the economy. Paul Volcker in his 1979 piece Rediscovery of the Business Cycle, address this nonsense stating that effectively the collapse in the Gold Standard that was followed by the 1974-1976 Recession defied this notion about “New […]

 The Iranian Rial The Iranian Rial has come under tremendous pressure. Internally, the currency is depreciating in purchasing power at an astonishing rate. Internationally (illustrated here), the Rial has fallen generally to the 123.50 level from the 79 to the dollar level back in 2003. Internally, the Rial has just suffered one of the most […]

July 18, 1996 Testimony of: Martin A. Armstrong Chairman Princeton Economic Institute 214 Carnegie Center Princeton, NJ 08540   Mr. Chairman, members of the committee. I would like to thank you for inviting me here today to offer what information PEI has gathered from our experience in dealing with the multinational corporate and institutional sector […]

In China, the top scandal is about corruption. The story of Bo Xilai, a charismatic and ambitious politician, who was the Communist Party secretary of China’s sprawling Chongqing municipality. The papers talk about how he was driven by the greed of his wife. At least it is in the open and being discussed. This stands in contrast to […]

One of the Question at the San Diego Conference was about the acceptance of cycles in the West. In Asia, cycles are part of their religion. In the West, the Business Cycle has been acknowledged by everyone of any substance, The theories of Marx and Keynes had a common denominator – government can eliminate the […]

Germany’s Top Court Gives Green Light Germany’s top constitutional court, as expected, rejected efforts to block a permanent Eurozone rescue fund.  They dismissed motions that sought to block the European Stability Mechanism but did rule that their contribution of $240 billion could not be increased without legislative approval.  Germany was the last county to ratify […]

There are so called “Goldbugs” who hate my guts because I disagree with their reasoning why gold will rise and they cannot stand anyone who is a real analyst and ever forecasts that there will be a pause in the trend, I remain deeply concerned that many of these people who hate me so much […]

HARRIS v. McRAE, 448 U.S. 297 (1980) 448 U.S. 297 HARRIS, SECRETARY OF HEALTH AND HUMAN SERVICES v. McRAE ET AL. APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF NEW YORK. No. 79-1268. Argued April 21, 1980. Decided June 30, 1980. Title XIX of the Social Security Act established the Medicaid […]

World Economic Conference Agenda The fall we will be providing three World Economic Conferences around the world with much smaller audiences to enable questions, discussions, and interaction. This is being done to make for a much more personalized experience. Instead of 300 attendees as was the case in Philadelphia, this will be small groups to […]

U.S. Supreme Court   Braswell v. United States, 487 U.S. 99 (1988)   Braswell v. United States   No. 87-3   Argued March 1, 1988, Decided June 22, 1988   487 U.S. 99 CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR  THE FIFTH CIRCUIT Syllabus A federal grand jury issued a subpoena to petitioner […]