Join Us at the 2023 World Economic Conference in Orlando, Florida!

? Dates: November 17, 18, and 19 ? Location: Orlando, Florida, USA (or tune in from home with our virtual ticket options)

Are you ready to unlock the future of economics and finance? Prepare for an unforgettable World Economic Conference experience in sunny Orlando, Florida! This premier event is your gateway to insights, networking, and valuable resources that will supercharge your understanding of the global economy.

?️ What’s Included for In-Person Attendees:

1. Event Admission: Enjoy reserved seating assigned based on the order of ticket sales, ensuring you have a prime view of every presentation.
2. Presentation Slides: Gain access to the presentation slides from all speakers, allowing you to delve deeper into the topics discussed.
3. Video Recording: Can’t make it to a session? No worries! You’ll receive access to video recordings of all conference presentations, so you can catch up at your convenience.
4. WEC Event App: Connect with the conference on a whole new level. Access presentation slides, bonus reports, recordings, and more via the official WEC Event App.
5. Bonus Conference Materials: Get a package of bonus conference-related materials, including exclusive bonus reports and videos (as provided by Martin Armstrong).
6. Morning Information Sessions: Don’t miss out on important morning information sessions, screened on-site in the meeting room on Saturday and Sunday.
7. Networking Opportunities: Exclusive access to the Event App Networking Feature allows you to connect with fellow attendees, both in-person and virtual, fostering valuable professional relationships.
8. Culinary Delights: Savor delicious breakfast and lunch on Saturday and Sunday, prepared to keep you energized throughout the day.
9. Cocktail Reception: Kick off the conference in style at our Friday evening cocktail reception. Meet and mingle with fellow attendees while enjoying refreshing drinks.
10. Swag Bag: As a token of our appreciation, each in-person attendee will receive a swag bag filled with goodies, including an Armstrong Economics notebook, pen, and an event collector’s mug!

Unable to travel? We also have two different ticket options for those wishing to attend virtually! 

Don’t miss this opportunity to be part of a global gathering of economic and financial minds. Secure your spot at the World Economic Conference in Orlando, Florida, and gain the knowledge, connections, and resources you need to thrive in the world of finance and economics.

Space is limited, so act now and reserve your seat! Visit our Events page to register and join us in sunny Orlando this November.

Now available at all major retailers!

The eBook will be available shortly.

The second edition of “The Plot to Seize Russia – The Untold History” is now available for purchase in paperback and hardcover on Amazon and Barnes and Noble. The ebook will be available shortly.

Book description:

“Take care of Russia,” Boris Yeltsin said as he departed his presidency in August 1999. These words were directed at current Russian president, Vladimir Putin. Yeltsin specifically picked Putin as his predecessor to prevent the takeover of Russia.

So, who was Yeltsin warning against? Newly declassified documents from the Clinton Administration prove that there was a plot to rig the Russian election of 2000. These never-before-seen documents confirm numerous attempts to implement pro-Western policies using the Russian oligarchy headed by Boris Berezovsky.

On the other side were the communists who desired a return to the glory days of the Soviet Union. As one of the largest international hedge fund managers, author Martin Armstrong found himself in the middle of perhaps the greatest espionage, or attempt at a regime change for Russia, in modern history.

The Plot to Seize Russia pulls back the curtain to expose the most extraordinary attempt to seize power in modern history, but with the pen rather than armies. These declassified documents reveal a plot that has altered our thinking about the relations between the United States and Russia. The thirst for power comes seething through every line of these papers that alter our perception of reality, change the course of history, and now threaten us with World War III.

Western liberals imported the third world into France and other countries in the name of diversity and compassion. They ignored fundamental questions of assimilation and compatibility. They were told it would lead to this and they didn't listen.

I pray that France, a beautiful… https://t.co/y39o3JGlWh

— JD Vance (@JDVance) October 18, 2026

France is being torn apart by criminals who have discovered that a demonstration provides the perfect opportunity to loot businesses, burn public buildings, and terrorize entire communities. The media continues to refer to these events as “student protests,” but what the hell does setting fire to a town hall have to do with education? The historic 19th-century city hall in Limoges was gutted by flames, its roof collapsed, and rioters attacked municipal buildings in Marseille. Shops were ransacked in Paris, vehicles were burned, police were assaulted, and business owners were left surveying the destruction of everything they had worked to build. Much of this is captured on video. These are criminal acts committed under the cover of demonstrations, and calling the perpetrators students does nothing to excuse the destruction.

Nearly 2,400 people were arrested following the October 17 unrest, and authorities reported damage affecting at least 3,000 businesses. More than 1,500 shops were reportedly ransacked. There were peaceful demonstrators protesting legitimate grievances over the cost of living and deteriorating schools, but violent groups exploited those gatherings to steal, vandalize, and attack public institutions. French police themselves described people arriving later in the day for the purpose of looting. Small business owners who had nothing to do with government policy are now left with shattered storefronts, stolen merchandise, insurance claims, and lost income. These are the people who employ their neighbors and pay the taxes that support the very public services France claims it cannot afford.

France has fallen. pic.twitter.com/SaFGWqOclQ

— Breaking911 (@Breaking911) October 18, 2026

Macron’s government has spent years lecturing everyone about democracy while presiding over mounting debt, declining economic confidence, and a population increasingly furious over the cost of living. Now schools have been damaged, teachers and principals assaulted, and children deprived of their education. The politicians cannot even guarantee that a school will remain open or a shopkeeper can operate without having his property destroyed. France already faces enormous fiscal problems, yet the taxpayer will ultimately be forced to finance the repairs while the businesses that were looted may never recover. How much more destruction can an economy absorb when productive people are already struggling to survive?

Our Civil Unrest Model identified 2026 as a major target for widespread unrest in Europe years in advance. A reader in France wrote that his brother’s store had been completely looted and destroyed. This is the human cost of these events that disappears when journalists reduce everything to a discussion about demonstrations. The model also indicates that the unrest could continue into November, although there may be a temporary reprieve. The economic pressures have not disappeared, particularly the rising cost of energy, which is feeding inflation and further undermining living standards.

What concerns me even more is that our Civil Unrest and International War models are aligning during the same period. I recently explained that this is the first time I have seen both models converge in this manner. We have a Panic Cycle in Civil Unrest in 2029, while the War Cycle continues escalating toward 2027. The Economic Confidence Model also points toward the broader political and economic instability unfolding into 2028 and the major turning point in 2032. These are model projections, not guarantees that every country will experience the same events, but the convergence is particularly troubling as Europe confronts rising energy costs, sovereign debt problems, and growing separatist pressures.

A left-wing French woman joined the student protests but was horrified when the second and third-generation migrants she was with started looting stores. She screamed “This isn’t the cause”

They pushed her aside, told her to shut up and said they had “urgent shopping” to do pic.twitter.com/GEWhMCUBSF

— Visegrád 24 (@visegrad24) October 17, 2026

We are seeing unrest beyond France, including tensions in Belgium, Italy, Germany, and Albania. The common thread is deteriorating confidence in governments that continue demanding more money while ordinary people experience declining living standards. I have explained that the combination of war, rising energy costs, fiscal deterioration, and political polarization is placing enormous pressure upon European society. France is already struggling with debt and economic stagnation, and destroying businesses only accelerates the flight of productive capital. Investors do not need to wait for an official declaration of economic collapse when they can watch buildings burning and businesses being looted.

Our models point to further instability ahead, and the political establishment continues behaving as though another speech from Macron will somehow restore confidence. France sacrificed the safety of its nation to appease the globalist Build Back Better open border agenda. Now the politicians are shocked that the invaders have not only failed to assimilate but are eager to topple the current regime.

? JUST IN: While France burns, Polish Member of European Parliament Dominik Tarczynski is WALKING THROUGH Krakow LATE at night, showing all of Europe it's PERFECTLY CALM

"Look how safe we are. Churches are safe. Because we did not let them in. Zero means zero. 'Be like Poland'…

— Eric Daugherty (@EricLDaugh) October 18, 2026

Poland has become one of the most outspoken defenders of national control over immigration within the European Union. Polish Member of the European Parliament Dominik Tarczyński recently walked through a Polish city at night, contrasting its peaceful streets with the scenes of destruction coming out of France. “Look how safe we are. Churches are safe. Because we did not let them in. Zero means zero. ‘Be like Poland’ means be brave.” His message was aimed directly at Brussels, which has spent years attempting to impose a common migration system upon countries that do not necessarily agree on whom they should admit. Poland has insisted that decisions involving its borders, national security, and the composition of its population cannot simply be handed over to European institutions.

The Polish people have good reason to understand the importance of sovereignty. Their country was partitioned by foreign powers in the eighteenth century, disappeared from the map of Europe for more than a century, endured Nazi occupation, and subsequently fell under Soviet domination. Poland did not regain its full political independence from communist rule until 1989. That experience helps explain why arguments about surrendering national authority to Brussels provoke such strong reactions. The country spent generations struggling to govern itself, and immigration policy has become another arena in which the boundaries of European integration are being contested.

Poland’s confrontation with the EU began during the 2015 migration crisis when Brussels attempted to distribute asylum seekers among member states through mandatory relocation quotas. Poland, Hungary, and the Czech Republic refused to comply, and the European Court of Justice ruled against them in 2020. The legal defeat did not settle the political disagreement. Polish governments continued arguing that immigration and asylum decisions must account for national security, public consent, and the ability of local communities to absorb newcomers. Brussels viewed the relocation mechanism as a matter of shared responsibility, while Poland challenged the idea that solidarity could be imposed through compulsory admissions.

Poland has demonstrated that border security involves more than political speeches. Along its frontier with Belarus, Warsaw constructed physical barriers and expanded surveillance and military deployments after accusing the Belarusian government of facilitating migrant crossings as a form of political pressure. The European Union itself has increasingly acknowledged the problem of migration being used as an instrument of hybrid warfare. Poland’s position has been that an external border cannot remain credible if authorities are unable to control unauthorized entry. At the same time, border enforcement must operate within applicable asylum and human-rights obligations, a continuing source of legal controversy.

Poland’s position has become more significant in 2026 because the country’s border policy is no longer confined to speeches from opposition politicians. On September 18, the Polish government extended restrictions on asylum applications at the Belarusian border for another 60 days, the eighth extension since the measures were introduced in March 2025. Warsaw argues that Belarus has deliberately facilitated migrant crossings to destabilize Poland and the European Union. The measures remain controversial because of concerns about access to asylum, but they demonstrate how seriously Poland regards the border as a matter of national security.

Even more revealing was Poland’s intervention at the September 26 migration summit in Munich. Interior Minister Marcin Kierwiński told representatives from 18 European countries that the EU Migration Pact did not go far enough to address the challenges confronting Europe’s external borders. Poland was no longer simply resisting policies developed in Brussels. Its government was actively promoting stronger enforcement measures for the rest of Europe to consider. That is a remarkable development given the years of confrontation between Warsaw and European institutions over immigration.

There is also a financial dimension that Brussels cannot ignore. Poland has accommodated approximately 1.5 million Ukrainian nationals, according to the European Union Agency for Asylum. The European Commission itself recognized the cumulative migration pressures facing Poland, allowing it to seek relief from contributions under the 2026 solidarity mechanism. This complicates the familiar accusation that Poland refuses to share responsibility for migration. Warsaw’s argument is that it has already absorbed substantial humanitarian and financial obligations and should retain discretion over additional commitments. As for other nations? Poland is not disillusioned to believe that every culture can live in harmony together. “We know what jihadists are capable of. We do not know what second or third generation of so-called refugees will do. Well, actually we do know… we can see what is happening in France,” Tarczyński noted.

The disagreement over migration ultimately reaches far beyond border fences and asylum quotas. Poland’s experience illustrates the unresolved question at the center of European integration: how much authority should national governments retain when Brussels adopts common policies that conflict with domestic priorities? The EU argues that shared external borders require cooperation and mutual responsibility. Poland insists that cooperation cannot eliminate national accountability for security, immigration, and public order. As economic pressures and political tensions increase across Europe, that dispute is unlikely to disappear. Poland has made clear that it intends to remain an active participant in determining Europe’s future rather than simply accepting every decision made in Brussels.

QUESTION: You are right about the government, no matter what they call themselves. Macron’s address blamed Trump for fuel prices and said he had no part in it. Yet he has supported Zelensky and the war with Russia, and as you said, he avoids responsibility for everything.

I see your 2032 coming. I didn’t when you were here in Paris. Now, it seems too far away, and it needs to come forward fast.

Thank you for the education

PGR

ANSWER: I fully appreciate that. Five years ago, they would her me say the road ahead comes to an end in 2032 and they were often not convinced. Today, you have to be blind not to see what is unfolding.

Here’s a video of Macron addressing the nation and saying that he understands that people are angry because of the price of fuel. He goes on to say:

“The price of fuel is going to a higher price, which is increased because of what is happening in the Persian Gulf, a war that France was not part of.”

He selectively pushes the burden for the increase in gas prices only to Trump and the Iran war, when Russia-Ukraine has definitely had a bit impact in the price of gas in Europe that all began with their sanction on Russia and the decision to pay higher prices for fuel to punish Russia?

Next month’s US elections will extend far beyond November and into the 2028 presidential race. The Democratic candidates are already saying who they will throw out of government and they promise to check President Trump during his final two years and pursue investigations. Democratic leaders have explicitly said they intend to force Pete Hegseth out of the Defense Department. The most direct statement comes from House Democratic Leader Hakeem Jeffries, who said:

“One of the first things we’re going to do in the majority, we’re going to run Pete Hegseth out of town.”

Republicans admit that Democratic control would mean obstruction and efforts to harass and impeach Trump at every second of every day. Nobody cares about the country. Politics has degenerated into a grudge match. Trump should stand up and advocate World War III, then maybe the Democrats will push for peace. Whatever Trump says, they MUST take the opposite position.

The Democratic Party’s mainstream stance is indeed generally “pro-Zelensky, anti-Putin,” and Hillary Clinton’s public accusation that Putin interfered in the 2016 election and caused her defeat is a typical manifestation of this stance. However, it should be noted that this is a broad partisan consensus, not a direct causal relationship stemming from “Hillary blaming Putin.” Little do they know that Hillary was a Neocon, created the fake Dossier against Trump, handed it the Neocon McCain, who handed it to James Comey all to pretend this came from a Republican. Neocons are NOT loyal to the country or the people. Only to their personal agendas.

Anyone who thinks voting for a Democrat will somehow make everything better and solve the national debt, fuel prices, or inflation, are just idiots. There is NOBODY in Washington on either side who is interested in really setting the country right. Everything is a compromise at best. This is a cover from a report published back in 1986. The ONLY way to ever get reform is a politician has only one term. Then and only then would they do the right thing. Otherwise, they have to take money from lobbyists to run for the next election. One time in and out!

If the Democrats take both houses, what you will see beyond perhaps fist-fights like the good-old days for our entertainment like in 1798,  but the Democrats will destroy the economy as you see wild proposals from Elizabeth Warren and the Progressive led by AOC. They will so screw up the United States, that this is what will be needed to get to 2032. People will have to see that it does NOT matter you you vote for, the system is broken.

From virtually the beginning of the nation, there have been brawls in Congress. The first one to be widely noted was that of February 15, 1798, when Roger Griswold, a US House Representative from Connecticut, attacked Matthew Lyon and began to beat him with a stick. Griswold, a Federalist, walked up to Lyon’s desk hitting him on the head and shoulders with his hickory walking stick. Lyon, who was a Republican from Vermont, responded by grabbing a pair of fireplace tongs and defending himself beating Griswold in return.

They then began to just punch each other in a fistfight until they were pulled apart. That is how heated the arguments would get between the Federalists who demanded a central government with power over states and the Republicans who argued for State’s Rights. We are still plagued with this issue and it will ultimately lead to the collapse of the United States just as centralized control led to the collapse of Communism.

Four out of six of our models for the 2028 election point to the right, which you are starting to see in France and Germany as well as Italy. The Democrats will move far left to their Socialist-Marxist Dream and Elizabeth Warren want wealth taxes, dramtic increases in social security, and they want to raise taxes like never before. This will result is a wild 2028 election and the prospect of the USA also splitting like the Soviet Union. I have never see the computer come up with a model that project in excess of 70%. That is warning that CONFIDENCE is collapsing.

Brawls on Capital Hill are not so rare. After State’s Rights came Slavery as the next major dividing issue. In a speech in May 1856, Massachusetts Senator Charles Sumner spent five hours on the floor denouncing the Kansas-Nebraska Act. He said the compromise bill leaving slavery in those territories to be decided by local popular vote was outrageous. He called out Illinois Senator Stephen Douglas, who was the chief architect of the act, a “noise-some, squat, and nameless animal.” He went on to describe Andrew Butler of South Carolina, who pushed the compromise, as “the harlot, Slavery,” that he “discharged the loose expectoration of his speech” at the very thought of embracing her. That was a personal dig for Butler was known to lisp and drool.

Two days later, on May 22nd, 1856, Sumner was sitting at his desk preparing copies of the speech he intended to distribute around the nation. A cousin of Butler’s who was also a member from South Carolina, Preston Brooks,  entered the Senate floor. Brooks approached Senator Sumner and told him that he had read his words with “as much impartiality as was possible,” and then began to beat him over the head with his walking stick. Sumner collapsed in a pool of blood and, in the days that followed, nearly died. The news of the confrontation can be found in countless newspapers around the nation.

Then on February 6th, 1858, perhaps the most infamous floor brawl in the history of the U.S. House of Representatives erupted again over the Kansas Territory’s pro-slavery. The debate continued late into the night of February 5-6. Then just before 2 a.m., Pennsylvania Republican Galusha Grow and South Carolina Democrat Laurence Keitt exchanged insults, which were then followed by physical blows.

“In an instant the House was in the greatest possible confusion,” was being reported by the press. Suddenly, over 30 Members jumped into the brawl turning it into a Western Style bar fight or melee.

So cheep up, today may be the best day in your life, for politicis always has the endearing fate of always making to morrow worse that it is today.

The latest inflation figures should put an end to the ridiculous claims that inflation has been defeated. The Producer Price Index surged 1.3% in September alone, the largest monthly increase since March 2022, while wholesale prices are now rising at an annual rate of 6.3%. Economists had expected an increase of approximately 0.6%, yet the actual number was more than DOUBLE their forecast. The Consumer Price Index released the previous day showed inflation accelerating to 3.7%, and now we see the pressure building at the producer level as well. Washington keeps assuring the public that inflation is under control while the cost of producing and distributing virtually everything continues climbing.

The Bureau of Labor Statistics reported that wholesale energy prices jumped 10.8% in September, with gasoline prices at the producer level surging 20.3%. Food prices increased another 1.2%, while the index for final demand goods rose 2.6%, the largest monthly increase since that series began in 2009. Even excluding food and energy, producer prices increased 0.7%, demonstrating that the problem extends beyond the oil market. Businesses are being hit with rising costs at virtually every stage of production, and those increases do not simply disappear because some economist sitting in Washington believes inflation should return to 2%.

The retail sales report released alongside the inflation data is equally revealing. Retail sales rose 0.8% in September, beating expectations of approximately 0.3%, and the financial press immediately began celebrating the supposed resilience of the American consumer. Yet gasoline station sales surged 7.1%, and retail sales excluding gasoline increased only 0.2%. The control group used in calculating GDP, which excludes automobiles, gasoline, building materials, and food services, managed an increase of just 0.1%. Consumers are spending more money, but a considerable portion of that increase reflects the higher price of necessities rather than any meaningful improvement in their standard of living.

This is the great deception in the way economic statistics are presented to the public. Retail sales are measured in dollars and are not adjusted for inflation. If gasoline costs another 20% and the public continues purchasing roughly the same amount because they must drive to work, the government records higher sales. That does not mean consumers have suddenly become wealthier or more confident. It means they are surrendering more of their disposable income to purchase what they were already buying. The same applies to groceries, utilities, insurance, and countless other expenses that cannot simply be eliminated from a household budget.

Americans have already endured an enormous increase in the cost of living since 2020. The pandemic-era monetary expansion helped create a massive inflationary surge, and those price increases were never reversed. When inflation temporarily declined from 9% to 3%, politicians celebrated as though they had somehow restored purchasing power. They had done NOTHING of the sort. Prices remained elevated, and every additional monthly increase compounds the damage. A family that could once afford a mortgage, two vehicles, groceries, and occasional savings is now being forced to make choices between expenses that were previously manageable on the same income.

The energy situation is particularly troubling because the conflict involving Iran has disrupted petroleum markets and pushed fuel costs higher. Diesel is essential to agriculture, trucking, construction, and manufacturing. A farmer cannot refuse to operate his equipment because fuel has become expensive, and a trucking company cannot deliver goods without diesel. Those businesses must either absorb the additional costs, reduce operations, or pass the increases along to their customers. Higher energy prices eventually work their way through the entire economy, and today’s producer inflation becomes tomorrow’s pressure on consumer prices. That pass-through is neither automatic nor uniform, but the squeeze on business margins is already apparent.

Now the Federal Reserve is confronted with another problem of its own making. Inflation is accelerating, wholesale prices are rising faster than consumer prices, and government borrowing continues expanding. Kevin Warsh can raise interest rates in an attempt to restrain demand, but higher rates will not produce additional oil or reduce the cost of shipping goods through a disrupted international energy market. They will, however, increase financing costs for businesses, homebuyers, and consumers already struggling to manage their expenses. The Fed is being asked to correct problems that monetary policy alone cannot resolve.

Washington has accumulated more than $40 trillion in federal debt and continues spending without any serious plan to restore fiscal discipline. Treasury Secretary Scott Bessent must find buyers for that debt while the government competes with the private sector for available capital. Higher inflation also encourages bond investors to demand greater yields because nobody wants to lend money for ten or thirty years only to discover that inflation has destroyed the real value of their investment. The government wants lower interest rates to reduce its borrowing costs, but the bond market must consider inflation, sovereign risk, and international capital flows. Politicians cannot simply command investors to ignore those realities.

The September figures show wholesale inflation accelerating to 6.3% while the apparent strength in retail sales is being heavily influenced by expensive gasoline. This is hardly evidence of a healthy consumer economy. Inflation is again gathering momentum, and the government has fewer options than it wants to admit because its own debt and spending have become part of the problem.

Fannie Mae has sharply raised its mortgage rate forecast for 2027, and the revision should put an end to the fantasy that Americans can simply wait another year for cheap money to return. Economists now expect the average 30-year fixed mortgage rate to reach 7.4% during the fourth quarter of 2026 and remain around 7.5% throughout 2027. Only recently, Fannie Mae was forecasting 6.8% for the end of this year and 6.7% for next year.

I have explained that the artificially low mortgage rates during the pandemic were an anomaly created by extraordinary monetary intervention. People became accustomed to borrowing at 2% or 3% and somehow concluded that this was normal. It was NEVER normal. The Federal Reserve suppressed interest rates, purchased enormous quantities of mortgage-backed securities and government debt, and helped create one of the most distorted real estate markets in American history. Home prices exploded because buyers could suddenly borrow more money at artificially low rates, and now those inflated property values remain while the cost of financing has more than doubled.

The September inflation report should explain why mortgage rates are moving in the opposite direction from what real estate agents and politicians have been promising. Inflation has accelerated to 3.7%, gasoline prices have surged, and energy costs are filtering throughout the economy. Meanwhile, Washington has accumulated more than $40 trillion in debt and continues borrowing without any serious intention of balancing the budget. Investors are demanding higher yields to hold government securities, and mortgage rates respond primarily to the bond market rather than whatever overnight rate the Federal Reserve decides to announce.

The 10-year Treasury yield has been rising, and mortgage lenders must price loans according to the cost of capital, inflation expectations, and the risk of holding mortgage-backed securities. Kevin Warsh could cut the federal funds rate tomorrow, but that would not automatically bring mortgage rates down. The Fed does not control the entire yield curve, and the Treasury market is increasingly reflecting the enormous demand for capital coming from governments that refuse to stop borrowing. Washington wants cheaper money, but the international bond market has no obligation to provide it.

Consider what this means for the average homebuyer. A $350,000 mortgage at 3% carries a monthly principal and interest payment of approximately $1,476. At 7.5%, that same loan costs approximately $2,447 per month, nearly $1,000 more before property taxes, insurance, maintenance, or association fees. Yet home prices have not returned to their pre-pandemic levels. The buyer is being asked to finance a vastly more expensive property at more than twice the interest rate, while wages have failed to keep pace with the cumulative increase in the cost of living.

This has created two entirely different real estate markets. Existing homeowners who locked in mortgages below 3% have little incentive to sell because purchasing another home would mean surrendering their cheap financing. First-time buyers face inflated property prices, higher borrowing costs, rising insurance premiums, and property taxes that have climbed alongside valuations. Those who purchased homes with cash or accumulated substantial equity are in a completely different position from younger households attempting to enter the market. The result is fewer transactions, homes sitting longer in many markets, and sellers gradually discovering that buyers cannot afford yesterday’s asking prices.

Pending home sales fell 8.5% in September compared with a year earlier, while mortgage demand continues to weaken. Fannie Mae’s revised forecast reflects a market already struggling with affordability, not merely some theoretical possibility of higher rates next year. Buyers cannot qualify for mortgages simply because a seller believes their property should be worth another 20%. Real estate ultimately depends upon the purchasing power of the buyer, and that purchasing power has been severely damaged.

The real estate industry continues telling people to buy now and refinance later, but that assumes mortgage rates will decline substantially in the foreseeable future. Nobody can guarantee that outcome. The government is the largest borrower, inflation remains elevated, and capital is being demanded by governments and private industry simultaneously. There is no economic law requiring mortgage rates to return to the artificially suppressed levels of the pandemic, regardless of how badly politicians, realtors, and homeowners would like that to happen.

The housing market must eventually adjust to the price of money rather than expecting the price of money to adjust to inflated housing values. That adjustment will not be uniform because some regions remain supported by population growth and cash buyers while others face mounting inventory and weakening demand. Fannie Mae has now acknowledged that higher mortgage rates may persist through 2027, but the greater problem is that an entire generation was encouraged to believe the abnormal conditions of 2020 and 2021 represented a permanent new reality. They did not, and the longer sellers and buyers wait for those conditions to return, the longer this market remains trapped between what people want for their homes and what buyers can actually afford.

Hyundai Motor Group has announced plans to invest $15.5 billion in India through 2032, further demonstrating how the global automobile industry is shifting toward emerging economies. The South Korean manufacturer intends to expand production, strengthen research and development, and transform India into a major manufacturing and export hub. This is occurring as European automobile manufacturers struggle with declining competitiveness, expensive energy, and government mandates that have undermined an industry that once dominated global manufacturing. India, meanwhile, is attracting the very investment that Western governments seem determined to drive away.

Hyundai already has annual production capacity exceeding 1.4 million vehicles in India through its manufacturing operations, including Kia. The company is expanding its facilities and allocating approximately $700 million toward research and development. Its newly inaugurated Pune plant, built on a former General Motors facility, further shows how production capacity is being redeployed internationally. This is not merely about assembling inexpensive vehicles for the domestic market. Hyundai wants India to become a center for engineering, design, technological development, and exports. The capital is being committed for years into the future because management sees a market capable of supporting long-term growth.

I have written extensively about the decline of the automobile industry, particularly in Germany, where politicians have sacrificed manufacturing competitiveness to satisfy their insane climate objectives. The European Union decided to phase out the internal combustion engine while imposing costly environmental regulations and letting energy prices undermine industrial production. Volkswagen, once a symbol of German industrial strength, has been forced to confront factory closures and restructuring. The automobile industry supports far more than assembly workers. It sustains steel producers, chemical companies, electronics manufacturers, transportation networks, machine-tool producers, and thousands of smaller suppliers. Destroy the automobile industry and you begin dismantling an enormous portion of the industrial economy.

India is moving in the opposite direction. Prime Minister Narendra Modi launched Make in India in 2014 with the objective of expanding domestic manufacturing and attracting foreign capital. The automobile industry is now one of the clearest examples of that strategy. India has become the world’s third-largest passenger vehicle market, with approximately 4.5 million passenger vehicles sold during fiscal 2026. Total automobile production across passenger vehicles, two-wheelers, three-wheelers, and other categories reached approximately 34.7 million units. Those figures represent an enormous industrial ecosystem that continues expanding as incomes rise and more households enter the consumer economy.

Hyundai is hardly alone. Suzuki has continued expanding its Indian production capacity, Toyota is planning another manufacturing facility, and Tata Motors has strengthened its partnership with Stellantis to develop vehicles for more than 50 international markets. That agreement is particularly important because India is moving beyond simply providing inexpensive labor. Indian companies are increasingly participating in engineering, vehicle architecture, research, and product development. The more technical expertise that develops domestically, the greater the economic benefit retained within India rather than being transferred entirely to foreign manufacturers.

I recently wrote that Indians are actually experiencing their economy grow in real time. The Western world has largely forgotten that. When factories open, infrastructure expands, employment opportunities increase, and families begin purchasing their first automobiles, economic growth becomes visible throughout society. An automobile purchase is often one of the most significant financial decisions a household makes after housing. Rising vehicle ownership is therefore an important reflection of expanding purchasing power and the development of a consumer middle class. India has a young population, growing domestic demand, and enormous potential for further motorization compared with mature markets where vehicle ownership is already widespread.

The contrast with Europe could hardly be greater. Brussels is obsessed with its 2030 emissions targets and the 2035 restrictions on new combustion-engine vehicles while European manufacturers face fierce competition from China and increasingly from other Asian producers. Germany is struggling to preserve industrial employment, yet its politicians continue imposing regulations that increase production costs. India is building factories, attracting foreign manufacturers, and encouraging the development of domestic supply chains. European politicians seem to believe prosperity can be legislated into existence through environmental targets while ignoring the capital investment necessary to sustain an industrial economy.

There are obviously challenges. India remains heavily dependent upon imported petroleum, and rising energy costs threaten manufacturers and consumers alike. Infrastructure, logistics, bureaucracy, and the availability of skilled labor remain important obstacles. Foreign investment also does not guarantee that every Indian worker will immediately enjoy higher living standards. Nevertheless, these are the challenges of an economy attempting to expand its productive capacity rather than one deliberately restricting it. India is building the industrial foundation necessary to support a larger middle class over the coming decades.

The international automobile industry is telling us where it sees the future. Manufacturers are not committing billions of dollars to India out of charity or political loyalty. They are investing because they see growing consumer demand, opportunities for exports, and the possibility of producing vehicles competitively for an expanding global market. Capital looks for opportunity, and the automobile industry is particularly sensitive to changes in labor costs, energy prices, taxation, regulation, and consumer confidence.

India does not need Germany, Japan, or China to collapse in order to succeed. There is room for another major automobile manufacturing center, particularly one serving a domestic market of more than 1.4 billion people. Hyundai’s $15.5 billion commitment demonstrates that multinational corporations increasingly recognize India’s potential as both a consumer market and a global production base. While much of the developed world is debating how to preserve industries it has burdened with taxes and regulations, India is attracting the investment required to create new ones. That is how economic power gradually shifts from one region of the world to another.

QUESTION: Marty, do you have any direct contact with Trump? Is there any possible way to counteract the Democrats’ pro-war stance with NATO and the EU?

Don

ANSWER: No. I believe the Neocons are closing in, and the last letter I sent got no reply. That has never happened before. They are trying to create a bubble around him.  I do not see anyone in DC understanding that China and North Korea as well as Iran will join Russia against Europe. Nobody seems to ever think about the next step and they have no interest in even listening to such a scenario. They just dismiss it and assume Russia will just fall and China will wait for their turn. The question of diverting the US from WWIII is just not something they even want to contemplate no less take some action.

While I believe that Trump shifted on Iran to nothing before the election coming to terms that they are operating under a regime change and meeting with Xi, but I cannot say I accomplished that with direct contact with Trump himself.

Look at how many politicians jumped on the bandwagon with the masks, distancing, and lockdowns all for COVID which was a complete scam set in motion by the Globalists and the Climate Change nut-jobs. These morons are all on board with this same type of bullshit that Russia can be taken down, there will be no nuclear war, and Putin will surrender without firing a shot and simply say here, the country is yours for the taking.

People are so gullible. Look at Canada, Justin Trudeau and Carney live in a fantasy world. The World Bank puts Canada’s 2025 GDP per person at US$55,698. Mississippi, the poorest state in America, sits around US$55,877. New York State stands at $123,369 per person. The GDP of the EU stands at €18.8 trillion with 452 million people is €41,600 or  $48,867.52. and Carney wants to join the EU? Is this so Canada can bailout the EU and impose a military draft to defend his globalist dreams?

Julius Caesar said over 2,000 years ago that people believe what they want to believe. Nothing has ever changed. Humanity is led by the manipulations like a herd of sheep.

Maybe thousands of letters to the White House saying just publicly admit the Track Record of Socrates and demand he listen, might get through the Neocon security bubble that they will not be able to cover-up that many letters.

I’m the foolish optimist. I keep trying to defeat Socrates, but I have been told many times that I am the fool on the hill who sees the sun going down; The man of a thousand voices talking perfectly loud but nobody ever hears him, Or the sound he appears to make. “The Fool on the Hill” was written and sung by Paul McCartney, and the core meaning of the song is: a person deemed a “fool” by the world is often the one who truly sees through the essence of the world. There is a lot of truth in that statement.

QUESTION: Mr. Armstrong, those attempting to silence you and instruct the mainstream media to avoid you are putting the world at risk. You were projecting civil unrest here in 2026 years in advance. My brother’s store was completely looted and destroyed in France. Macron can make his resolute television appearance, but nobody listened to the people, and they certainly ignored your forecasts, which you have always said were not merely your personal opinion. This appears to be spreading everywhere: to Belgium, Italy, and Germany, as well as Albania. Will this escalate into November?

Pierre

ANSWER: I wish I had better news. You are correct, 2026 was the major target for widespread civil unrest in Europe. This will not be the end of it. There will be a reprieve, but as I have warned. the migrant issue will put Europe a tremendous risk for the people they let in have no interest in assimilating. This will perhaps continue into November. This is part of the rising fuel costs and they continue to support Zelensky and our computer warns energy is still in a bull market.

Crude can soar to as high as $200 a barrel in 2028 thanks to war and Zelensky. I have warned that the Neocon only look at their objective and are ignorant of everything else around them. They are really screwing the world economy and much of the protests are also about the cost of living. Protest will not bring down the cost of living until the leaders abandon Zelensky.

I have tried to warn that this is the first time I saw the computer have both models, Civil Unrest and International War, aligning at the same time. We have a Panic Cycle in the Civil Unrest in 2029. This raises serious concern that the EU may no longer exist and that the rise in this civil unrest will increase the pressure for separatist movements. The Politicians have simply refused to listen to the people they are supposed to represent because they see the people as too stupid to visualize what they see for the future.

These forecasts are NOT my personal opinion. This is the computer all based on the historical record. We probably have the largest such database separated between domestic and international events. This allows us to create two separate models and do not compare these forecasts as my opinion against someone else. This is the data.

Look, something is brewing the week of October 26 and we have a critical week  showing up across many European markets November 9th. All I can say is that Ursula is not someone I would personally trust to make the right decision. Thanks to Zelensky, even Crude oil appears poised to rally. Beware of November.