ASIA: As mentioned in yesterday’s MT, the U.S. raised tariffs on China after the most recent deadline of 12 midnight eastern had passed. Trump earlier this week said that he was frustrated by the lack of progress (regression) in negotiations, while today he stated there is no rush to the ongoing talks now that the […]

ASIA: China and the U.S. entered the day with just one day left to agree to a trade deal before the U.S. imposed tariffs on $200 billion dollars’ worth of Chinese goods goes up from 10% to 25%. Chinese Premier Liu is in the U.S. meeting with trade negotiators in an attempt to resolve differences, […]

QUESTION: Mr, Armstrong; Why the push for lower interest rates again in developed markets? You have stated the QE has been a total failure. Are they incapable of doing anything else? KE ANSWER: We are switching from QE to a new reality of budget management. If interest rates rise on government bonds, the budget blows […]

QUESTION: Dear Martin, Would you like to enlighten me on your stance on the Modern Market Theory that is being touted by some in finance and politics please? VV ANSWER: The basis upon which MMT has emerged is actually logical for those who lack the understanding of how to conduct research. Since QE has lasted in […]

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: […]

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 […]

ASIA: Japanese PM Abe has been in advanced talks since the beginning of the week with European Leaders, discussions about protectionism and free trade agreements were at the forefront of the conversation. Due to current trade agreements savings in excess of 1.1billion Euros for European businesses exporting to Japan. The backdrop of the conversation was […]

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 […]

ASIA: The North Korean leader Kim Jong-un visits Russia for the first time near the city of Vladivostok. Talks are due to commence tomorrow between the two nations as Russia wishes to discuss North Korea’s nuclear problem. This, along with continued efforts to engage with China, is a continued effort for North Korea to hedge […]

In Japan, Nomura’s chief Koji Nagai took over as Nomura’s chief executive back in 2012 and followed that appointment with a $1bn cost-reduction plan that was criticized both externally and internally for failing to target the inefficient divisions of Nomura’s domestic operations in Japan. The latest program will see the company close more than 30 […]