The interesting fact is that the majority of fund managers today have reduced their equity allocation to their lowest level since November 2016 according to Reuters. The reason for this is their focus of trade and their assumption that the Great Depression was caused by a PROTECTIONISM. According to yet a recent monthly report by […]

QUESTION: Mr. Armstrong; Do you have any comment on the latest excuse for the decline in gold is because Trump is forcing it down so he can buy it up and move to gold-backed bonds like Nevada? This is the latest coming from the fringe which just seems so unrealistic any more. I am not […]

The the first debt bankruptcy of a major corporation in China has now taken place here on schedule in 2018. This first bankruptcy of a major corporation was due to over-indebtedness which occurred in the current year. The South China Morning Post reported that coal company Wintime Energy has been forced to cease operations after failing […]

The causes of the Great Depression have been debated for decades. The problem with all of the analysis is this same attempt to reduce the cause to a single event. In school, we read the Great Crash by Galbraith. He was a socialist so he blamed the corporations and never bothered to ever even mention the […]

COMMENT: Mr. Armstrong; I find your analysis refreshing here in Europe. Sometimes we cannot always look in the mirror objectively. You are correct that perhaps the greatest fault in trying to create the euro has been this idea of forcing one culture upon everyone in Europe. The feelings about the EU are very different in […]

Mario Draghi said the euro-area economy is strong enough to overcome increased risk,  and therefore this justifies the European Central Bank’s decision to end bond purchases bringing to an end a decade-long failed experiment. The truth behind this statement is starkly different than being portrayed in the press. Draghi also pledged to keep interest rates unchanged […]

  Interesting the price action in Asia following yesterdays events and action. The Nikkei was the only core market to record a positive return today, but probably weighted by the currency decline and safety boost. The Japanese index made steady progress throughout the day to close at the high, which was the complete opposite to […]

QUESTION:  Hi Marty, Two questions: 1. When the Canadians said they never look at “those things,” what “things” are they talking about? 2. I always like lowering taxes, if the remaining revenue will be spent wisely. (In our dreams). But as a lawyer in the Austin area, I can assure you that manufacturing by some […]

QUESTION: Mr. Armstrong; I was at the Treasury Management Association of Canada (TMAC) conference in Vancouver when you appeared as a speaker as well as Peter Detallis of the Bank of Canada if I remember his name correctly. I was there at the cocktail party when the Finance Minister of Nova Scotia said you diminished the […]

  QUESTION: Why is the Fed moving to relax the Volcker Rule and allow banks to once again engage in proprietary trading? I figure if anyone knew the truth, it would be you Thank you in advance PH ANSWER: Yes, the Federal Reserve Board wants to roll back the Volcker Rule, which was imposed to […]