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BlackRockBlackRock, the largest fund management firm in the world, has plans to acquire to key ports at each end of the Panama Canal in addition to 43 ports in 23 countries. Trump touted this proposal as a win for America as BlackRock is an American company. However, BlackRock is a know World Economic Forum partner whose interest do not primarily align with the people of America.The $22.8 billion deal involves a 90% purchase of Panama Ports Company, the company that owns and operates the ports of Cristobal and Balboa in Panama. BlackRock has been involved in massive deals but this is the company’s largest infrastructure deal to date.The move by BlackRock to purchase the Panama Canal is yet another step in the consolidation of global power into the hands of unelected financial elites. This is not about capitalism; this is about neofeudalism, where multinational corporations wield control over vital infrastructure, bypassing sovereign governments and democratic accountability.The Panama Canal is a critical geopolitical asset. If BlackRock takes control, it would essentially mean that a private financial entity, rather than the US government itself, would control one of the world’s most important trade routes. A Us company acquiring the canal does align with US interests as BlackRock often operates as an unofficial arm of the Fed and US government.However, BlackRock is closely aligned with the World Economic Forum whose goal is globalization. BlackRock’s massive influence over the financial markets could assist the globalists in centralizing financial control. What happens if the company’s Environmental, Social, and Governance (ESG) policies, although recently downplayed, spill over into the world’s busiest trade route? BlackRock will have tremendous power over world trade.Is America truly “reclaiming” the Panama Canal? BlackRock may be an American company but it does not operate in a position favorable to the people of America. This deal will provide one company with massive influence over world trade—perhaps too much power that could be used to weaponize capital flows. Oversight is unclear at this time. This is far less of a win than the current administration perceives.
AidtoUkraine2024Trump and Vance were not the first to warn Zelensky that his ungrateful begging would backfire. In June 2022, during a private phone call, then-President Joe Biden reportedly lost his temper with the Ukrainian president. Biden had agreed to another massive $1 billion aid package to Ukraine at the time. Yet, no amount is enough for Zelensky.Any diplomatic leader would react to a $1 billion aid package with gratitude, especially since the US had already sent him billions in funds and weapons. Not Zelensky whose response was to list off everything else Ukraine needed on top of the new aid package. Reports state that Biden lost his temper and shouted at Zelensky during the private phone call—SHOW SOME GRATITUDE!UkraineMoneyMemeZelensky used the United States and public taxpayer funds as his personal endless piggybank. He made a complete fool of Joe Biden who continued to fulfill his every wish. The difference between the current and last administration is that Trump will not tolerate disrespect. Additionally, Biden was forced to save face with the public to secure Zelensky’s image and America’s unwavering support.In fact, months after the heated phone call, Biden publicly apologized to Zelensky for not sending MORE. He blamed the GOP, stating that Republican lawmakers were stalling additional aid as a political bargaining chip. America had already spent hundreds of billions on Zelensky’s proxy war, but our weak sell-out of a leader cowered and apologized for not prioritizing a foreign nation over his own. What an embarrassment and slap in the face to the people of America.Numerous people have told me, “This is what I voted for” after Trump and Vance put Zelensky in his place. “Have you ever said ‘thank you’ once?” Vance questioned. Zelensky telling Trump that America would “feel” the impact of the war eventually was the final straw. He actually threatened the president of the United States by warning that war would soon be on his doorstep. The world needed to see that encounter to understand Zelensky. He could have easily chosen PEACE! He could have chosen to prioritize the lives of his troops rather than his ego and pockets. The deal was there awaiting him, but he chose death and destruction.Zelensky Money HungryZelensky came for a paycheck and left with a reality check. Sorry, but the new American administration serves the American people who have provided Ukraine with more funding than any other nation. The neocons in Europe can cry all they want about America abandoning Europe, but they fail to acknowledge that our president was offering PEACE and an end to war. But no, the neocons are hell-bent on conquering Russia, so peace was never an option. It will be of interest to see how the European leaders who do not support this endless war will react and if it will cause another fracture in the EU.Trump has said he’d like to stop focusing on Russia and Ukraine and refocus on securing America’s borders. Let us not forget that millions of undocumented, unvetted foreign nationals are still residing in America, presenting an extreme threat to our own national security.
IRS buildingThe Internal Revenue Service is slated to shed half of its 90,000 agents. Recall that former President Joe Biden wanted to double the number of tax hunters by adding over 87,000 agents through a piece of legislation slipped into the Inflation Reduction Act. The Biden Administration weaponized the IRS against the American people and had even begun to train groups of agents on basic military warfare in the event of raids. This could be a major win for American citizens.InflationReductionAct.meme_IRS.FootballFieldThose complaining about DOGE fail to realize that we permit the government to audit us annually. For once we are turning the tables and auditing the very agencies who hold the people to such high standards. Trump has already placed a hiring freeze for the agency and laid off 7,000 probationary workers. The workers who may lose their jobs will be offered a buyout package, no different from what past administrations have offered when trimming the public sector. Agents will not have the opportunity to accept a buyout until May after the upcoming tax filing deadline.Other agents have an opportunity to work for the Department of Homeland Security to aid in immigration enforcement, as DHS Secretary Kristi Noem has already asked Treasury Secretary Scott Bessent to “borrow” agents to assist with the border crisis.IRS More AuditsThe misconception that IRS would only target the wealthy needs to be dispelled as a study revealed that 63% of new audits targeted Americans earning under $200,000. Trump is not looking out for his billionaire friends here, as many liberal commentators have speculating. He is protecting the average American from legal government extortion.The highest earners know how to avoid taxes. Trump famously told Hillary during a debate prior to the 2016 US Presidential Election that he obviously used the loopholes in the tax system, as do all financially savvy businessmen. “Her donors took massive tax write offs… and other things that Hillary as a Senator allowed,” Trump stated during the debate. “So do Warren Buffett, so does George Soros, and so do other people Hillary is supported by,” he added.Tax returns are merely an interest-free government loan from the working class to the US government. They are deprived of the opportunity to invest that money throughout the year or use it for other expenses. Small businesses are dissected and squeezed for every penny. The most complicated part about the filing process is that no one knows exactly how much they are to pay. Pay too much or too little and you’re in big trouble.The entire hunt for taxation has been a war on the middle class, who is unable to file massive write-offs and cannot afford to continue paying Uncle Sam on every incoming and outgoing transaction, plus savings, income, and everything else from birth to death.
Maxime BernierMaxime is the leader of the People’s Party of Canada. The Canadian Press tries to ignore him and the party because, like everywhere else, those in power are trying to suppress any alternative to their establishment. Maxime stands for individual FREEDOM and personal RESPONSIBILITY. The interview will be posted on Friday.I get many Canadians suggesting that they dump the British system and establish a Constitution like the United States because the governor general still represents the king rather than the people. Many are disenhante3d with King Charles because he is a globalist. That is not part of the PPC platform. Your comments are welcome.I am giving our Canadian readers a chance to send in any questions toArmstrongEconomics@Gmail.com
canada_blue_map_400_clr_5255COMMENT: Hi Martin,I read everything you write and deeply appreciate your work.Your insights are invaluable, and I’m truly grateful for everything you do.Regarding your upcoming interview with Maxime Bernier, I wanted to share a suggestion.Max (who referred to himself as “Mad Max” during his Freedom Convoy speeches) was one of the few political figures who had a profound impact on my understanding of freedom at the time.He was among the only voices willing to speak out when it was truly dangerous to do so – both before and during the Freedom Convoy.During that crucial moment, three figures stood firmly in defense of freedom:Maxime BernierRandy HillierBrian Peckford (the last living signatory of the Canadian Charter of Rights and Freedoms)Just a note: Pierre Poilievre remained silent during that critical time and only started speaking when the political tide had already shifted.As someone who was at the Freedom Convoy from Day 0, I can confirm that this is how it felt and this is what people were discussing there.I’m sure your Canadian supporters will send in many great questions, but I wanted to suggest this perspective: If you want to take this interview to a deeper and more multidimensional level, consider including all three of these voices.Each is an exceptional public speaker, and together, they can provide a broader understanding of Canada’s present situation and its future trajectory.Thanks again for everything you do.Best regards,GGREPLY: Thank you. That is one reason I wanted to interview him for our huge Canadian Audience
Poland ECM 1989 2041QUESTION: Mr. Armstrong, I just write to you because you are the only source for reliable news and forecasting here in Poland and Estonia. Your computer forecast our election and the markets incredibly. I understand why people try to slander you. It is always kill the messenger because they cannot argue with the message. I was concerned that you said 2025 was 86 years from Hitler invading Poland. Do you have any updates? I fear for Poland’s future.LK2023 10 26 Poland_s_new_parliament_to_convene_on_November_13_president_English_Section_ ANSWER: Yes, President Duda called for a new Polish parliament to convene after the October 15th elections, one to be led by former (unelected) EU President Donald Tusk.Poland Germany 3 28 1939The tensions with similar rhetoric preceded Hitler’s invasion of September 1st, 1939, for several months. That began in January/February 1939, and curiously, it was about 8.6 months later when the invasion took place. The rhetoric is now equally hateful. This is not going to look good. Tusk wants war with Russia.2025This year is 86 years from the 1939 invasion of Poland. The target year 2025 was also showing up to the start of civil unrest in Romania. This is an important year overall for the Eastern European nations in general.WarsawPoland_Stock_Index Q 3 3 25The Warsaw Shar Index has an important Double Directional Change for the 2nd quarter here this year. With Trump suspending money to Ukraine, we must ask, will Europe pick up the tab? If not, will the Ukrainian politicians demanding Zelensky resign and flee the country while he still can? Maybe Britain will give him political asylum.\
German Bund Y 3 3 25Geopolitics surrounding Ukraine and NATO’s push for war are set to disrupt the fiscal consolidation efforts in Europe. At the same time, growth challenges call for much more significant investment than existing fiscal rules prescribe. That is a time bomb under the entire European project. Key risks are defense and concerns over competition. These will derail efforts to cut deficits and lift borrowing costs because the Neocons never care about the people or the economy. They have exploited the United States for decades, creating endless wars. The yield on the 10-year German Bund would most likely rise to test the 5% level by 2027 without outright war, but with war, the minimum target becomes 8%.Our Monthly Timing Arrays from the Computer show a DOUBLE DIRECTIONALCHANGE this month with rising volatility. The risk of Zelensky’s arrogance as he takes orders from the Neocons toward war remains very high. Sources are already saying that climate change has destroyed Europe’s car industry. The are planning to revamp the car plants into weapons. They are considering that Italy’s struggling car industry will convert to weapons manufacture with subcontractors across Lombardy and the Veneto. They will then supply the German armaments plants where Volkswagen, in particular, will produce weapons.Macron send Nukes to GermanyThis is becoming painfully obvious that the EU has devasted the European economy (1) with COVID lockdowns, (2) climate change, and (3) sanctions on Russia. They see war as a boom to their economies to offset job losses in the car industry that they have unleashed with their stupidity. Even the premier of Bavaria, Markus Soder, is calling for a full-scale revival of German military power along with a joint nuclear deterrent in concert with France and the UK. It is widely known that it was not the New Deal that ended the Great Depression but the war. The Europeans wanted the US to keep paying the bills, but if Trump did not, they realized they were going to have to shift policies. From what I am hearing, that is already underway.
Pig CongressCOMMENT: Dear Mr. Armstrong:What I found really weird was that some Democrats were holding signs saying, “Musk Steals.”Per its website, DOGE has saved $105B. In the name of all that is good and right, who are the ones stealing?! Where was this money going?! Wasn’t a good amount of this money routed to go, in fact, to the folks holding the signs and their party for their personal benefit at the expense of “We the People”?!Is this the new, new “pot calling the kettle black” as some sort of weird mass brain washing campaign? It’s terrifying to me that some folks fall for this stuff and literally believe that Musk is stealing! We must wake up to see the forest for the trees!I may have missed it, but I haven’t yet seen anyone calling out this colossal example of abject hypocrisy and true blindness.Please continue doing what you do.JFetterman_on_dEMOCRATS _A_sad_cavalcade_of_self_owns_and_unhingeREPLY: Most Democrats reject democracy. It is either their way or no way. They have become so deep in their own lies and CORRUPTION that it is embarrassing internationally. The computer will be correct. It has never been wrong because it is not biased. I have warned that it is forecasting the collapse of the Democratic Party. Like the Federalists who also tried desperately to impose dictatorial power from a centralized government commanding and overruling local state culture and policies, this is their fate.Democrats DenialThey are too stupid and too wrapped up in the demonic hatred of anyone who opposes them; they have become a cancer eating away at the unity of the United States. Sadly, this behavior leads to at least the collapse of their political party and the breakup of the United States, for they are too blind to see their own actions. In the worst-case scenario, we end up in a civil war. Their best days were when they advocated slavery.government BureacratsThey then turned to Marxism for FDR; then they tried civil rights with LBJ: all great labels but no substance. It has always been about just retaining personal power and the flow of money into their pockets, like USAID.What are they fighting for? Transgender opera they were funding in Columbia?They Are In A Bear Market! Combined_Senate_House Democrats
Maple Leaf CanadaCOMMENT #1: Martin: The PPC is not the only smaller party resisting the establishment. Canada’s only pro-life, pro-family, pro-freedom federal party is the Christian Heritage Party. The PPC’s policies are very similar on many fronts (eg freedom, personal responsibility). The big economic policy of the CHP is scrapping federal income and business tax and replacing it with a National Sales Tax (aka FAIRtax) after reducing government’s size and reach, reducing the federal debt, and balancing the federal budget.Bernier tries to pretend the CHP doesn’t exist. The CHP has been around since 1986.I love your newsletter and the information it brings to light.DDCOMMENT #2: Martin, thank you for the opportunity to pose a question to Maxime.Maxime, with respect you are polling significantly behind the mainstream parties in Canada, what is your plan to get your message to resonate with Canadians when so many of them lean left? Would you ever consider joining forces with Pierre Poilievre where you’d have a better chance in moving some of your ideas forward?Randy
Tax RobberyThe party of war voted in unison against ending taxes on tips and overtime work. Only one Republican voted against these measures, with 217 in favor. The Democrats are NOT the party of the working class and have been actively working to undermine the people for years.Ending taxes on tips and overtime was one of Trump’s campaign promises, which is precisely why the Democrats struck down the bill. Laughably, the opponents stated they were concerned that losing $2 trillion in tax breaks over the next decade would hurt the national debt. The very people who have never seen a social program they did not want to fund are suddenly concerned about the national debt.Franklin TaxesKamala Harris was in favor of these policies and had the backing of her party. Her feigned support was an effort to win over the people, no different from the failed promise of ending student loans. “It is my promise to everyone here, when I am president, we will continue to fight for working families, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers,” Harris told a crowd at the University of Nevada in August 2024.The Democrats want everyone to be equally poor and dependent upon the government. Some lawmakers say eliminating tip taxes would be unfair to workers in states with a lower minimum wage. Under that line of thinking, should we penalize those who work in cities where, say, a meal is 5X the price as it would be elsewhere? Why should anyone out earn another in this fantasy socialist utopia? Minimum wage is a short-sighted political move that ignores the fundamental laws of supply and demand. Politicians always assume they can simply legislate prosperity, but history proves otherwise. Forcing businesses to pay higher wages does not magically create wealth—it destroys jobs, accelerates automation, and puts small businesses out of business.Wages rise naturally in a real economic expansion when businesses compete for workers. That is how a free market functions. But when governments artificially raise wages, businesses respond logically—by cutting jobs, reducing hours, or passing the costs onto consumers through inflation. The very people politicians claim to be helping end up worse off, as their cost of living rises and entry-level jobs disappear.Tipping culture is completely out of control in America. There is an expectation for consumers to pay a minimum of 20% in addition to inflated services, regardless of the quality of their service. Kiosks and self-checkout payment systems often ask for a tip. Consumers are less likely to go out when money is tight and the initial service has already risen due to inflation. Then, the government wants to take a portion of these tips AND the initial salary in most states. Whatever we must buy is then taxed; whatever we save is then taxed. Government greed knows no bounds. They’re too incompetent to manage funds, so they continue to squeeze our pockets, but it is never enough.Taxing overtime pay is just another example of how clueless politicians are when it comes to economics. The entire purpose of overtime is to compensate workers for putting in extra hours beyond a normal workweek. Yet, instead of rewarding hard work, governments see it as another opportunity to grab more revenue. Why would the government disincentivize people from working? We are eager to keep our hospitals staffed, ports flowing, trucks moving, etc. but are discouraging a productive workforce by dipping into their earnings.Do the Dems who voted against these policies hate the American people, Trump, or both? No one is buying their feigned concern for the national debt. If policymakers had any real understanding of economics, they would eliminate taxes on overtime and tips entirely. If you want a strong economy, you incentivize productivity, not penalize it.
Social Security Reform 1996COMMENT: Good morning Marty, As a financial advisor, I have already spoken to two elderly widow clients this week who are petrified that Trump will take away their SS they are counting on and they wanted to know if they can still support themselves if he does. I could not walk them away from the ledge and convince them that he will not be taking away SS. I tried telling him this is the same ploy used for 30 years and the Dem’s had the “Throwing Granny off the cliff” ads and that I was getting calls then about Bush eliminating their benefits. I told them that in fact he’s trying to save SS and reduce the taxation of it. I know there will be more calls to come. I wonder if your son-in-law has talked to any worried clients. The Dem’s lies have consequences.Thanks,NormANSWER: I know. I was asked to revise SS back in the ’90s to convert it to a wealth fund investing in the country rather than just government bonds that will only fund the corruption. The Democrats refused to vote for it unless they could change the fund managers to people who only voted for the Democrats. I gave up trying to help in Washington. It was a joke. The corruption was so pervasive that it was a giant waste of time. The Dow was 6,000 area back then. The Social Security fund would have been flush with cash by now.They do not understand that lower earners may not pay income taxes but are not exempt from Social Security. The vast amount of the lower middle class pays more in Social Security than income taxes. Then the government sends them a refund check, and they borrow from the poor and never pay them one penny in interest. The greater risk that they have is that the Democrats are so dividing the country it may now be able to stand united much longer. Then what? That is when Social Security will fail – not Trump.The press is only pouring gasoline on the fire. They do not give a dam about the country and cannot see what they are doing is destroying their own future. Somehow, the words of Rodney King come to mind – Can’t we all get along?
Market Talk 2017ASIA:The major Asian stock markets had a mixed day today:• NIKKEI 225 increased 286.69 points or 0.77% to 37,704.93• Shanghai increased 39.13 points or 1.17% to 3,381.10• Hang Seng increased 775.50 points or 3.29% to 24,369.71• ASX 200 decreased 46.40 points or -0.57% to 8,094.70• SENSEX increased 609.86 points or 0.83% to 74,340.09• Nifty50 increased 207.40 points or 0.93% to 22,544.70The major Asian currency markets had a mixed day today:• AUDUSD increased 0.00056 or 0.09% to 0.63411• NZDUSD increased 0.00030 or 0.05% to 0.57460• USDJPY decreased 0.949 or -0.64% to 147.936• USDCNY increased 0.01134 or 0.16% to 7.24779The above data was collected around 13:32 EST.Precious Metals:• Gold increased 1.33 USD/t oz. or 0.05% to 2,919.21• Silver increased 0.11 USD/t. oz. or 0.34% to 32.736The above data was collected around 13:34 EST.EUROPE/EMEA:The major Europe stock markets had a mixed day today:• CAC 40 increased 23.92 points or 0.29% to 8,197.67• FTSE 100 decreased 73.00 points or -0.83% to 8,682.84• DAX 30 increased 338.45 points or 1.47% to 23.419.48The major Europe currency markets had a negative day today:• EURUSD decreased 0.00094 or -0.09% to 1.07801• GBPUSD decreased 0.00079 or -0.06% to 1.28871• USDCHF decreased 0.00771 or -0.87% to 0.88329The above data was collected around 13:41 EST.US/AMERICAS:US Market Closings:Dow declined 427.51 points or -0.99% to 42,579.08S&P 500 declined 104.11 points or -1.78% to 5,738.52Nasdaq declined 483.48 points or -2.61% to 18,069.26Russell 2000 declined 34.19 points or -1.63% to 2,066.55 Canada Market Closings:TSX Composite declined 286.78 points or -1.15% to 24,584.04TSX 60 declined 15.89 points or -1.06% to 1,481.64 Brazil Market Closing:Bovespa declined advanced 373.57 points or 0.3% to 123,420.42ENERGY:The oil markets had a mixed day today:• Crude Oil decreased 0.025 USD/BBL or -0.04% to 66.285• Brent increased 0.068 USD/BBL or 0.10% to 69.368• Natural gas decreased 0.1429 USD/MMBtu or -3.21% to 4.3071• Gasoline decreased 0.0254 USD/GAL or -1.19% to 2.1068• Heating oil decreased 0.0118 USD/GAL or -0.53% to 2.2266The above data was collected around 13:42 EST.• Top commodity gainers: Cheese (3.60%), Wool (2.51%), Rhodium (5.50%) and Lean Hogs (2.78%)• Top commodity losers: Natural Gas (-3.21%), Orange Juice (-12.16%), Oat (-5.18%) and Coffee (-4.89%)The above data was collected around 13:49 EST.BONDS:Japan 1.5120% (+6.62bp), US 2’s 4.00% (-0.017%), US 10’s 4.2870% (+0.6bps); US 30’s 4.57% (-0.001%), Bunds 2.8180% (+3.5bp), France 3.542% (+5.65bp), Italy 3.8960% (+5.65bp), Turkey 25.86% (+0bp), Greece 3.689% (+7.1bp), Portugal 3.318% (-0.6bp); Spain 3.472% (+0.5bp) and UK Gilts 4.6220% (-2.6bp)The above data was collected around 13:51 EST.
A terminally ill child with brain cancer was awarded an honorary Secret Service award. I thought I’d post the video to explain the sheer hatred half of the nation has for Donald Trump and all of his supporters.The Democrats refused to stand during any portion of Trump’s State of the Union address. They would not applaud Laken Riley, the nursing student murdered by an illegal alien. They refused to honor former volleyball player Payton McNabb who received a traumatic brain injury when battling a transgender athlete in 2022.“Last night, just overall, the Democrat Party was so disrespectful,” McNabb said. “And they didn’t stand up for any of the guests, they didn’t stand up for DJ Daniel, who is the young boy who survived brain cancer, they didn’t stand up for Laken Riley’s family, whose daughter literally suffered a traumatic death that should have never happened, and every other guest that was there had some sort of powerful story, and they didn’t clap for any of that. “So it was heartbreaking, and honestly I wish I could say I was surprised, but I’m not.”Rep. Al Green, D-Texas was escorted out of the room within the first few minutes after shouting at the president. Bipartisan diplomacy is dead. The Democratic Party showed solidarity over one issue—their hatred of Donald Trump AND the conservative majority. The people VOTED for Donald J. Trump and yet half of our representatives refuse to represent the people. The Dems stood in the stands with signs as if they were at a college rally. It was a completely embarrassing, unprofessional, new low for the Democrats who will struggle to maintain their seats at the upcoming election.Yet, there is something particularly sinister about refusing to support a dying child. Some Democrats claim that Trump was using the child as a political prop. All the Democrats applauded manically when Ukraine was mentioned. Does this now show you where this party’s interests lie?Congratulations to 13-year-old DJ Daniel for his appointment to the Secret Service.
Market Talk 2017ASIA:The major Asian stock markets had a mixed day today:• NIKKEI 225 increased 286.69 points or 0.77% to 37,704.93• Shanghai increased 39.13 points or 1.17% to 3,381.10• Hang Seng increased 775.50 points or 3.29% to 24,369.71• ASX 200 decreased 46.40 points or -0.57% to 8,094.70• SENSEX increased 609.86 points or 0.83% to 74,340.09• Nifty50 increased 207.40 points or 0.93% to 22,544.70The major Asian currency markets had a mixed day today:• AUDUSD increased 0.00056 or 0.09% to 0.63411• NZDUSD increased 0.00030 or 0.05% to 0.57460• USDJPY decreased 0.949 or -0.64% to 147.936• USDCNY increased 0.01134 or 0.16% to 7.24779The above data was collected around 13:32 EST.Precious Metals:• Gold increased 1.33 USD/t oz. or 0.05% to 2,919.21• Silver increased 0.11 USD/t. oz. or 0.34% to 32.736The above data was collected around 13:34 EST.EUROPE/EMEA:The major Europe stock markets had a mixed day today:• CAC 40 increased 23.92 points or 0.29% to 8,197.67• FTSE 100 decreased 73.00 points or -0.83% to 8,682.84• DAX 30 increased 338.45 points or 1.47% to 23.419.48The major Europe currency markets had a negative day today:• EURUSD decreased 0.00094 or -0.09% to 1.07801• GBPUSD decreased 0.00079 or -0.06% to 1.28871• USDCHF decreased 0.00771 or -0.87% to 0.88329The above data was collected around 13:41 EST.US/AMERICAS:US Market Closings:Dow declined 427.51 points or -0.99% to 42,579.08S&P 500 declined 104.11 points or -1.78% to 5,738.52Nasdaq declined 483.48 points or -2.61% to 18,069.26Russell 2000 declined 34.19 points or -1.63% to 2,066.55 Canada Market Closings:TSX Composite declined 286.78 points or -1.15% to 24,584.04TSX 60 declined 15.89 points or -1.06% to 1,481.64 Brazil Market Closing:Bovespa declined advanced 373.57 points or 0.3% to 123,420.42ENERGY:The oil markets had a mixed day today:• Crude Oil decreased 0.025 USD/BBL or -0.04% to 66.285• Brent increased 0.068 USD/BBL or 0.10% to 69.368• Natural gas decreased 0.1429 USD/MMBtu or -3.21% to 4.3071• Gasoline decreased 0.0254 USD/GAL or -1.19% to 2.1068• Heating oil decreased 0.0118 USD/GAL or -0.53% to 2.2266The above data was collected around 13:42 EST.• Top commodity gainers: Cheese (3.60%), Wool (2.51%), Rhodium (5.50%) and Lean Hogs (2.78%)• Top commodity losers: Natural Gas (-3.21%), Orange Juice (-12.16%), Oat (-5.18%) and Coffee (-4.89%)The above data was collected around 13:49 EST.BONDS:Japan 1.5120% (+6.62bp), US 2’s 4.00% (-0.017%), US 10’s 4.2870% (+0.6bps); US 30’s 4.57% (-0.001%), Bunds 2.8180% (+3.5bp), France 3.542% (+5.65bp), Italy 3.8960% (+5.65bp), Turkey 25.86% (+0bp), Greece 3.689% (+7.1bp), Portugal 3.318% (-0.6bp); Spain 3.472% (+0.5bp) and UK Gilts 4.6220% (-2.6bp)The above data was collected around 13:51 EST.
Social Security Reform 1996COMMENT: Good morning Marty, As a financial advisor, I have already spoken to two elderly widow clients this week who are petrified that Trump will take away their SS they are counting on and they wanted to know if they can still support themselves if he does. I could not walk them away from the ledge and convince them that he will not be taking away SS. I tried telling him this is the same ploy used for 30 years and the Dem’s had the “Throwing Granny off the cliff” ads and that I was getting calls then about Bush eliminating their benefits. I told them that in fact he’s trying to save SS and reduce the taxation of it. I know there will be more calls to come. I wonder if your son-in-law has talked to any worried clients. The Dem’s lies have consequences.Thanks,NormANSWER: I know. I was asked to revise SS back in the ’90s to convert it to a wealth fund investing in the country rather than just government bonds that will only fund the corruption. The Democrats refused to vote for it unless they could change the fund managers to people who only voted for the Democrats. I gave up trying to help in Washington. It was a joke. The corruption was so pervasive that it was a giant waste of time. The Dow was 6,000 area back then. The Social Security fund would have been flush with cash by now.They do not understand that lower earners may not pay income taxes but are not exempt from Social Security. The vast amount of the lower middle class pays more in Social Security than income taxes. Then the government sends them a refund check, and they borrow from the poor and never pay them one penny in interest. The greater risk that they have is that the Democrats are so dividing the country it may now be able to stand united much longer. Then what? That is when Social Security will fail – not Trump.The press is only pouring gasoline on the fire. They do not give a dam about the country and cannot see what they are doing is destroying their own future. Somehow, the words of Rodney King come to mind – Can’t we all get along?
Pig CongressCOMMENT: Dear Mr. Armstrong:What I found really weird was that some Democrats were holding signs saying, “Musk Steals.”Per its website, DOGE has saved $105B. In the name of all that is good and right, who are the ones stealing?! Where was this money going?! Wasn’t a good amount of this money routed to go, in fact, to the folks holding the signs and their party for their personal benefit at the expense of “We the People”?!Is this the new, new “pot calling the kettle black” as some sort of weird mass brain washing campaign? It’s terrifying to me that some folks fall for this stuff and literally believe that Musk is stealing! We must wake up to see the forest for the trees!I may have missed it, but I haven’t yet seen anyone calling out this colossal example of abject hypocrisy and true blindness.Please continue doing what you do.JFetterman_on_dEMOCRATS _A_sad_cavalcade_of_self_owns_and_unhingeREPLY: Most Democrats reject democracy. It is either their way or no way. They have become so deep in their own lies and CORRUPTION that it is embarrassing internationally. The computer will be correct. It has never been wrong because it is not biased. I have warned that it is forecasting the collapse of the Democratic Party. Like the Federalists who also tried desperately to impose dictatorial power from a centralized government commanding and overruling local state culture and policies, this is their fate.Democrats DenialThey are too stupid and too wrapped up in the demonic hatred of anyone who opposes them; they have become a cancer eating away at the unity of the United States. Sadly, this behavior leads to at least the collapse of their political party and the breakup of the United States, for they are too blind to see their own actions. In the worst-case scenario, we end up in a civil war. Their best days were when they advocated slavery.government BureacratsThey then turned to Marxism for FDR; then they tried civil rights with LBJ: all great labels but no substance. It has always been about just retaining personal power and the flow of money into their pockets, like USAID.What are they fighting for? Transgender opera they were funding in Columbia?They Are In A Bear Market! Combined_Senate_House Democrats
German Bund Y 3 3 25Geopolitics surrounding Ukraine and NATO’s push for war are set to disrupt the fiscal consolidation efforts in Europe. At the same time, growth challenges call for much more significant investment than existing fiscal rules prescribe. That is a time bomb under the entire European project. Key risks are defense and concerns over competition. These will derail efforts to cut deficits and lift borrowing costs because the Neocons never care about the people or the economy. They have exploited the United States for decades, creating endless wars. The yield on the 10-year German Bund would most likely rise to test the 5% level by 2027 without outright war, but with war, the minimum target becomes 8%.Our Monthly Timing Arrays from the Computer show a DOUBLE DIRECTIONALCHANGE this month with rising volatility. The risk of Zelensky’s arrogance as he takes orders from the Neocons toward war remains very high. Sources are already saying that climate change has destroyed Europe’s car industry. The are planning to revamp the car plants into weapons. They are considering that Italy’s struggling car industry will convert to weapons manufacture with subcontractors across Lombardy and the Veneto. They will then supply the German armaments plants where Volkswagen, in particular, will produce weapons.Macron send Nukes to GermanyThis is becoming painfully obvious that the EU has devasted the European economy (1) with COVID lockdowns, (2) climate change, and (3) sanctions on Russia. They see war as a boom to their economies to offset job losses in the car industry that they have unleashed with their stupidity. Even the premier of Bavaria, Markus Soder, is calling for a full-scale revival of German military power along with a joint nuclear deterrent in concert with France and the UK. It is widely known that it was not the New Deal that ended the Great Depression but the war. The Europeans wanted the US to keep paying the bills, but if Trump did not, they realized they were going to have to shift policies. From what I am hearing, that is already underway.
BlackRockBlackRock, the largest fund management firm in the world, has plans to acquire to key ports at each end of the Panama Canal in addition to 43 ports in 23 countries. Trump touted this proposal as a win for America as BlackRock is an American company. However, BlackRock is a know World Economic Forum partner whose interest do not primarily align with the people of America.The $22.8 billion deal involves a 90% purchase of Panama Ports Company, the company that owns and operates the ports of Cristobal and Balboa in Panama. BlackRock has been involved in massive deals but this is the company’s largest infrastructure deal to date.The move by BlackRock to purchase the Panama Canal is yet another step in the consolidation of global power into the hands of unelected financial elites. This is not about capitalism; this is about neofeudalism, where multinational corporations wield control over vital infrastructure, bypassing sovereign governments and democratic accountability.The Panama Canal is a critical geopolitical asset. If BlackRock takes control, it would essentially mean that a private financial entity, rather than the US government itself, would control one of the world’s most important trade routes. A Us company acquiring the canal does align with US interests as BlackRock often operates as an unofficial arm of the Fed and US government.However, BlackRock is closely aligned with the World Economic Forum whose goal is globalization. BlackRock’s massive influence over the financial markets could assist the globalists in centralizing financial control. What happens if the company’s Environmental, Social, and Governance (ESG) policies, although recently downplayed, spill over into the world’s busiest trade route? BlackRock will have tremendous power over world trade.Is America truly “reclaiming” the Panama Canal? BlackRock may be an American company but it does not operate in a position favorable to the people of America. This deal will provide one company with massive influence over world trade—perhaps too much power that could be used to weaponize capital flows. Oversight is unclear at this time. This is far less of a win than the current administration perceives.
IRS buildingThe Internal Revenue Service is slated to shed half of its 90,000 agents. Recall that former President Joe Biden wanted to double the number of tax hunters by adding over 87,000 agents through a piece of legislation slipped into the Inflation Reduction Act. The Biden Administration weaponized the IRS against the American people and had even begun to train groups of agents on basic military warfare in the event of raids. This could be a major win for American citizens.InflationReductionAct.meme_IRS.FootballFieldThose complaining about DOGE fail to realize that we permit the government to audit us annually. For once we are turning the tables and auditing the very agencies who hold the people to such high standards. Trump has already placed a hiring freeze for the agency and laid off 7,000 probationary workers. The workers who may lose their jobs will be offered a buyout package, no different from what past administrations have offered when trimming the public sector. Agents will not have the opportunity to accept a buyout until May after the upcoming tax filing deadline.Other agents have an opportunity to work for the Department of Homeland Security to aid in immigration enforcement, as DHS Secretary Kristi Noem has already asked Treasury Secretary Scott Bessent to “borrow” agents to assist with the border crisis.IRS More AuditsThe misconception that IRS would only target the wealthy needs to be dispelled as a study revealed that 63% of new audits targeted Americans earning under $200,000. Trump is not looking out for his billionaire friends here, as many liberal commentators have speculating. He is protecting the average American from legal government extortion.The highest earners know how to avoid taxes. Trump famously told Hillary during a debate prior to the 2016 US Presidential Election that he obviously used the loopholes in the tax system, as do all financially savvy businessmen. “Her donors took massive tax write offs… and other things that Hillary as a Senator allowed,” Trump stated during the debate. “So do Warren Buffett, so does George Soros, and so do other people Hillary is supported by,” he added.Tax returns are merely an interest-free government loan from the working class to the US government. They are deprived of the opportunity to invest that money throughout the year or use it for other expenses. Small businesses are dissected and squeezed for every penny. The most complicated part about the filing process is that no one knows exactly how much they are to pay. Pay too much or too little and you’re in big trouble.The entire hunt for taxation has been a war on the middle class, who is unable to file massive write-offs and cannot afford to continue paying Uncle Sam on every incoming and outgoing transaction, plus savings, income, and everything else from birth to death.
A terminally ill child with brain cancer was awarded an honorary Secret Service award. I thought I’d post the video to explain the sheer hatred half of the nation has for Donald Trump and all of his supporters.The Democrats refused to stand during any portion of Trump’s State of the Union address. They would not applaud Laken Riley, the nursing student murdered by an illegal alien. They refused to honor former volleyball player Payton McNabb who received a traumatic brain injury when battling a transgender athlete in 2022.“Last night, just overall, the Democrat Party was so disrespectful,” McNabb said. “And they didn’t stand up for any of the guests, they didn’t stand up for DJ Daniel, who is the young boy who survived brain cancer, they didn’t stand up for Laken Riley’s family, whose daughter literally suffered a traumatic death that should have never happened, and every other guest that was there had some sort of powerful story, and they didn’t clap for any of that. “So it was heartbreaking, and honestly I wish I could say I was surprised, but I’m not.”Rep. Al Green, D-Texas was escorted out of the room within the first few minutes after shouting at the president. Bipartisan diplomacy is dead. The Democratic Party showed solidarity over one issue—their hatred of Donald Trump AND the conservative majority. The people VOTED for Donald J. Trump and yet half of our representatives refuse to represent the people. The Dems stood in the stands with signs as if they were at a college rally. It was a completely embarrassing, unprofessional, new low for the Democrats who will struggle to maintain their seats at the upcoming election.Yet, there is something particularly sinister about refusing to support a dying child. Some Democrats claim that Trump was using the child as a political prop. All the Democrats applauded manically when Ukraine was mentioned. Does this now show you where this party’s interests lie?Congratulations to 13-year-old DJ Daniel for his appointment to the Secret Service.
Maple Leaf CanadaCOMMENT #1: Martin: The PPC is not the only smaller party resisting the establishment. Canada’s only pro-life, pro-family, pro-freedom federal party is the Christian Heritage Party. The PPC’s policies are very similar on many fronts (eg freedom, personal responsibility). The big economic policy of the CHP is scrapping federal income and business tax and replacing it with a National Sales Tax (aka FAIRtax) after reducing government’s size and reach, reducing the federal debt, and balancing the federal budget.Bernier tries to pretend the CHP doesn’t exist. The CHP has been around since 1986.I love your newsletter and the information it brings to light.DDCOMMENT #2: Martin, thank you for the opportunity to pose a question to Maxime.Maxime, with respect you are polling significantly behind the mainstream parties in Canada, what is your plan to get your message to resonate with Canadians when so many of them lean left? Would you ever consider joining forces with Pierre Poilievre where you’d have a better chance in moving some of your ideas forward?Randy
canada_blue_map_400_clr_5255COMMENT: Hi Martin,I read everything you write and deeply appreciate your work.Your insights are invaluable, and I’m truly grateful for everything you do.Regarding your upcoming interview with Maxime Bernier, I wanted to share a suggestion.Max (who referred to himself as “Mad Max” during his Freedom Convoy speeches) was one of the few political figures who had a profound impact on my understanding of freedom at the time.He was among the only voices willing to speak out when it was truly dangerous to do so – both before and during the Freedom Convoy.During that crucial moment, three figures stood firmly in defense of freedom:Maxime BernierRandy HillierBrian Peckford (the last living signatory of the Canadian Charter of Rights and Freedoms)Just a note: Pierre Poilievre remained silent during that critical time and only started speaking when the political tide had already shifted.As someone who was at the Freedom Convoy from Day 0, I can confirm that this is how it felt and this is what people were discussing there.I’m sure your Canadian supporters will send in many great questions, but I wanted to suggest this perspective: If you want to take this interview to a deeper and more multidimensional level, consider including all three of these voices.Each is an exceptional public speaker, and together, they can provide a broader understanding of Canada’s present situation and its future trajectory.Thanks again for everything you do.Best regards,GGREPLY: Thank you. That is one reason I wanted to interview him for our huge Canadian Audience
Maxime BernierMaxime is the leader of the People’s Party of Canada. The Canadian Press tries to ignore him and the party because, like everywhere else, those in power are trying to suppress any alternative to their establishment. Maxime stands for individual FREEDOM and personal RESPONSIBILITY. The interview will be posted on Friday.I get many Canadians suggesting that they dump the British system and establish a Constitution like the United States because the governor general still represents the king rather than the people. Many are disenhante3d with King Charles because he is a globalist. That is not part of the PPC platform. Your comments are welcome.I am giving our Canadian readers a chance to send in any questions toArmstrongEconomics@Gmail.com
Tax RobberyThe party of war voted in unison against ending taxes on tips and overtime work. Only one Republican voted against these measures, with 217 in favor. The Democrats are NOT the party of the working class and have been actively working to undermine the people for years.Ending taxes on tips and overtime was one of Trump’s campaign promises, which is precisely why the Democrats struck down the bill. Laughably, the opponents stated they were concerned that losing $2 trillion in tax breaks over the next decade would hurt the national debt. The very people who have never seen a social program they did not want to fund are suddenly concerned about the national debt.Franklin TaxesKamala Harris was in favor of these policies and had the backing of her party. Her feigned support was an effort to win over the people, no different from the failed promise of ending student loans. “It is my promise to everyone here, when I am president, we will continue to fight for working families, including to raise the minimum wage and eliminate taxes on tips for service and hospitality workers,” Harris told a crowd at the University of Nevada in August 2024.The Democrats want everyone to be equally poor and dependent upon the government. Some lawmakers say eliminating tip taxes would be unfair to workers in states with a lower minimum wage. Under that line of thinking, should we penalize those who work in cities where, say, a meal is 5X the price as it would be elsewhere? Why should anyone out earn another in this fantasy socialist utopia? Minimum wage is a short-sighted political move that ignores the fundamental laws of supply and demand. Politicians always assume they can simply legislate prosperity, but history proves otherwise. Forcing businesses to pay higher wages does not magically create wealth—it destroys jobs, accelerates automation, and puts small businesses out of business.Wages rise naturally in a real economic expansion when businesses compete for workers. That is how a free market functions. But when governments artificially raise wages, businesses respond logically—by cutting jobs, reducing hours, or passing the costs onto consumers through inflation. The very people politicians claim to be helping end up worse off, as their cost of living rises and entry-level jobs disappear.Tipping culture is completely out of control in America. There is an expectation for consumers to pay a minimum of 20% in addition to inflated services, regardless of the quality of their service. Kiosks and self-checkout payment systems often ask for a tip. Consumers are less likely to go out when money is tight and the initial service has already risen due to inflation. Then, the government wants to take a portion of these tips AND the initial salary in most states. Whatever we must buy is then taxed; whatever we save is then taxed. Government greed knows no bounds. They’re too incompetent to manage funds, so they continue to squeeze our pockets, but it is never enough.Taxing overtime pay is just another example of how clueless politicians are when it comes to economics. The entire purpose of overtime is to compensate workers for putting in extra hours beyond a normal workweek. Yet, instead of rewarding hard work, governments see it as another opportunity to grab more revenue. Why would the government disincentivize people from working? We are eager to keep our hospitals staffed, ports flowing, trucks moving, etc. but are discouraging a productive workforce by dipping into their earnings.Do the Dems who voted against these policies hate the American people, Trump, or both? No one is buying their feigned concern for the national debt. If policymakers had any real understanding of economics, they would eliminate taxes on overtime and tips entirely. If you want a strong economy, you incentivize productivity, not penalize it.
AidtoUkraine2024Trump and Vance were not the first to warn Zelensky that his ungrateful begging would backfire. In June 2022, during a private phone call, then-President Joe Biden reportedly lost his temper with the Ukrainian president. Biden had agreed to another massive $1 billion aid package to Ukraine at the time. Yet, no amount is enough for Zelensky.Any diplomatic leader would react to a $1 billion aid package with gratitude, especially since the US had already sent him billions in funds and weapons. Not Zelensky whose response was to list off everything else Ukraine needed on top of the new aid package. Reports state that Biden lost his temper and shouted at Zelensky during the private phone call—SHOW SOME GRATITUDE!UkraineMoneyMemeZelensky used the United States and public taxpayer funds as his personal endless piggybank. He made a complete fool of Joe Biden who continued to fulfill his every wish. The difference between the current and last administration is that Trump will not tolerate disrespect. Additionally, Biden was forced to save face with the public to secure Zelensky’s image and America’s unwavering support.In fact, months after the heated phone call, Biden publicly apologized to Zelensky for not sending MORE. He blamed the GOP, stating that Republican lawmakers were stalling additional aid as a political bargaining chip. America had already spent hundreds of billions on Zelensky’s proxy war, but our weak sell-out of a leader cowered and apologized for not prioritizing a foreign nation over his own. What an embarrassment and slap in the face to the people of America.Numerous people have told me, “This is what I voted for” after Trump and Vance put Zelensky in his place. “Have you ever said ‘thank you’ once?” Vance questioned. Zelensky telling Trump that America would “feel” the impact of the war eventually was the final straw. He actually threatened the president of the United States by warning that war would soon be on his doorstep. The world needed to see that encounter to understand Zelensky. He could have easily chosen PEACE! He could have chosen to prioritize the lives of his troops rather than his ego and pockets. The deal was there awaiting him, but he chose death and destruction.Zelensky Money HungryZelensky came for a paycheck and left with a reality check. Sorry, but the new American administration serves the American people who have provided Ukraine with more funding than any other nation. The neocons in Europe can cry all they want about America abandoning Europe, but they fail to acknowledge that our president was offering PEACE and an end to war. But no, the neocons are hell-bent on conquering Russia, so peace was never an option. It will be of interest to see how the European leaders who do not support this endless war will react and if it will cause another fracture in the EU.Trump has said he’d like to stop focusing on Russia and Ukraine and refocus on securing America’s borders. Let us not forget that millions of undocumented, unvetted foreign nationals are still residing in America, presenting an extreme threat to our own national security.
