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.

The problem is, the open borders was intended to shift the politics to always favor the LEFT. They counted on being able to tax the hell out of their native citizens to keep these upstanding new arrivals fed, clothed, and adducted to video games. What the did not foresee, the the mass migration of Europeans elsewhere. This is never talked about. But when you look at the numbers, it looks like this is becoming the replacement theory, but the producers are starting to leave. Some worry that France can become the Radical Muslim State with nukes!

Europeans have been migrating to the USA, Canada, and South America, though the scale and patterns vary significantly by destination and time period. Here’s a breakdown of what recent data shows for each region.

European migration to the US has been declining in recent decades. A 2026 academic study notes that the modern era of US immigration is characterized by a decreasing flow of European migrants and an increasing flow from Latin America and Asia. This has been created by the ant-immigration policies in the USA.

A notable policy development occurred in September 2026, when the US resumed processing immigrant visas only for citizens of Poland and Hungary, while a broader moratorium remained in place for other countries.

Canada continues to attract Europeans, particularly through its International Experience Canada (IEC) program, which offers open work permits to young people from partner countries. In 2026, Canada issued tens of thousands of IEC invitations to Europeans. Key recipient countries included:

France: 658 invitations in one August round alone
Germany: 484 in the same round
United Kingdom: 309
Italy: 397
Ireland: 99

By early March 2026, Canada had issued 46,652 IEC invitations in total for the year . However, some programs have been restricted: Canada froze its Start-Up Visa program for entrepreneurs from over 30 European countries starting January 1, 2026.

South America has a long history of European immigration, particularly to Brazil, Argentina, and Chile. Today, European migration to the region continues, though it is often smaller in scale than intra-regional migration.

Paraguay has recently emerged as a notable destination. In the first half of 2026, Paraguay granted 1,132 residencies to Germans, 821 to Spaniards, 426 to Dutch citizens, and 358 to French citizens. We are see Europeans startin to migrate to Uruguay.

Brazil remains a major destination, with approximately 1.8 million immigrants:

Germans: 85,000 residents
Italians: 250,000 residents
Spanish: 75,000 residents
French: 65,000 residents
Portuguese: 40,000 annual visa renewals

Historically, southern Brazil (particularly Santa Catarina and Rio Grande do Sul) received significant Swiss, German, and Italian immigration in the 19th century. Around 15,000 Swiss settled in southern Brazil between the 1810s and 1880s, though their descendants were later absorbed into a broader “German” identity due to language and cultural dynamics.

This trend appears to be shifting into a new bull market. Many can now smell war in the air in Europe.

Martin’s segment begins at 10:30

Everyone looks at the headline manufacturing number and moves on, but buried inside the September ISM report is something far more important. The Prices Index surged 6.8 points to 77.9 while the Backlog of Orders Index jumped 4.6 points to 56.4. When backlogs move above 50, unfilled orders expand, meaning manufacturers are receiving work faster than they can efficiently complete it. When that happens at the same time prices are surging, the supply chain is telling us there is still pressure in the pipeline.

ISM reported that 43.5% of respondents were paying higher prices while only 2.7% reported lower prices, so this is not merely a story about stronger orders. Costs are rising sharply while unfinished work accumulates.

That combination can become inflationary because shortages change behavior. Companies begin ordering earlier because they fear they will not receive what they need later. Buyers become less concerned about negotiating the lowest price and more concerned about securing supply. Suppliers gain pricing power because customers cannot simply walk away when everybody else is waiting for the same materials. We saw precisely this during COVID when shortages encouraged businesses to order more inventory as protection against future shortages, making the bottlenecks even worse.

This is why the backlog matters more than most people realize. These are orders already sitting in the pipeline waiting to be completed, meaning they represent future production even if new demand begins to weaken. Consumer confidence can decline and the labor market can soften while manufacturers simultaneously face rising costs and unfinished orders. That is how you end up with economic weakness and inflation at the same time.

The Federal Reserve cannot fix this with another 25-basis-point move. Higher interest rates do not produce another barrel of oil, manufacture copper, eliminate tariffs, reopen shipping lanes, produce semiconductors, or build another factory. The Fed can suppress demand, but it cannot manufacture supply, and higher borrowing costs can actually make expanding productive capacity more expensive.

This is precisely why inflation can come in waves. CPI tells us what consumers have already paid, while manufacturing data can reveal pressure moving through the system before those costs reach the final customer. Manufacturers can absorb higher costs for a while by sacrificing margins, but eventually somebody pays. If the Prices Index remains elevated and backlogs continue expanding, businesses will increasingly attempt to pass those costs down the chain.

The September numbers should therefore be watched carefully. One month does not establish a trend, and backlogs could fall again, but a Prices Index of 77.9 alongside a Backlog of Orders Index at 56.4 is not a signal that inflationary pressure has simply disappeared. While Wall Street obsesses over every sentence from the Federal Reserve, the people actually producing goods are telling us something much more useful: their costs are rising while the work waiting to be completed is piling up.

Imagine running a private company where most of your office buildings failed to meet even a 60% utilization target, yet you continued paying the rent, utilities, maintenance, security, repairs, and operating costs year after year. How long would that company survive? Welcome to the federal government.

The Government Accountability Office examined the Department of Transportation’s real estate portfolio and found that 89% of its 189 federally owned and leased office buildings failed to meet the government’s own 60% utilization benchmark. That means only about ONE IN TEN met the standard. Taxpayers are spending hundreds of millions of dollars every year maintaining office space that in many cases is dramatically underused. The waste is blatant enough to be a non-partisan issue. Obama even broached the topic but here we are in 2026 with the same mess.

Remote work merely exposed a much larger problem that had been accumulating for decades. Government expands but almost never contracts. An agency acquires another building, signs another lease, hires another department, and increases its budget. Once that expense becomes embedded in the bureaucracy, nobody wants to surrender it because bureaucracies measure success by how much money and authority they control.

The private sector cannot operate this way. If a corporation discovers that half its office space is unnecessary, somebody begins calculating how quickly the leases can be terminated. Every empty floor represents money that could have gone toward employees, investment, technology, shareholders, or customers.

The scale becomes staggering when you look beyond one department. The federal government controls roughly 277,000 buildings and structures worldwide and spends billions annually operating and maintaining federal property. GAO has classified federal real-property management as a “high-risk” area since 2003, 23 years ago, because agencies have struggled for decades with excess and underutilized property.

If the government has known since 2003 that this is a high-risk problem and taxpayers are still maintaining enormous quantities of underused space, then this is not an oversight. This is how bureaucracy functions. The GAO has previously examined federal headquarters buildings in Washington and found extraordinary underutilization. In one study of 24 agencies during early 2023, average building utilization was approximately 25%. Seventeen agencies were using an estimated 25% or less of their headquarters capacity.

The Forrestal Building is a perfect example of why this federal real-estate mess needs to end. The Department of Energy is supposed to leave the massive 1969 1.8 million square feet complex and consolidate into the much smaller Lyndon B. Johnson Building. GSA originally said getting DOE out of Forrestal would avoid more than $350 million in deferred maintenance, yet the latest GAO report says the disposal timeline and costs are now “in flux,” with disposal itself previously estimated at more than $300 million. Even more absurd, while Washington prepares to unload the building, DOE is spending an estimated $22 million to add 20,000 square feet of classified space inside it. The Forrestal Building has been discussed for disposal for well over a decade, yet taxpayers continue paying to maintain and improve an obsolete property the government already knows it needs to leave. This is precisely how Washington burns money: everyone agrees the building needs to go, but bureaucracy makes getting rid of it almost as expensive and complicated as keeping it.

Twenty-five percent. Imagine owning a 100-room hotel, regularly using 25 rooms, heating and maintaining all 100, employing people to secure the entire building, and then complaining that you need more revenue because expenses are too high. Nobody in the private sector would tolerate it. Yet taxpayers have been paying for exactly this mentality. This becomes even more absurd when you consider what has happened to the federal workforce. Since Trump returned to office, hundreds of thousands of federal positions have disappeared. The government therefore has fewer employees while still carrying an enormous real estate footprint accumulated during decades when Washington continuously expanded.

Of course, government will explain that selling property is complicated. There are regulations, security requirements, historic preservation rules, environmental reviews, relocation costs, union considerations, lease obligations, agency-specific requirements, and countless other bureaucratic obstacles. That explanation actually proves the point. Government created so many layers of rules governing itself that it cannot efficiently dispose of buildings it already knows it does not need. The federal government occupies an enormous amount of premium property in and around the nation’s capital. Some of these buildings sit on land worth tremendous amounts of money. A rational owner would constantly ask whether holding that property still makes financial sense.

This is why simply forcing federal employees back into offices does not necessarily solve the underlying problem either. If a building is unnecessary, forcing people to commute into it merely to justify its existence reverses the logic. You do not invent a reason to use an unnecessary asset. You dispose of the unnecessary asset.

The objective should be productivity. What service does the agency provide? How many people are required to provide it? How much physical space do those employees actually need? What does that space cost taxpayers? Could technology allow the same service to be delivered with fewer people, fewer buildings, or both? Those are normal questions in the private sector. In government, they become political warfare.

This is the same mentality we just saw with federal fraud. GAO estimates the government loses somewhere between $233 billion and $521 billion annually to fraud. Now GAO is simultaneously telling us that government agencies maintain enormous quantities of underused real estate.

The GAO has been warning about federal real estate for more than two decades. The government knows it has excess property. It knows many buildings are underused. It knows taxpayers spend billions maintaining this enormous portfolio. Before Washington builds another bureaucracy, perhaps it should figure out what to do with the buildings from the last one.

For decades, economists looked down on emerging markets whenever they ran chronic deficits, accumulated too much debt, and watched interest expense consume an increasing portion of government revenue. The developed world supposedly knew better. Now the Institute of International Finance is warning that the United States, France, Britain, and Japan face “persistently large deficits and rising interest expenses — challenges long associated with debt-distressed emerging market sovereigns.”

Welcome to the sovereign debt crisis. Global debt has now surpassed $365 TRILLION after increasing by more than $10 trillion during the first half of 2026. The problem is no longer merely the amount of debt. Governments accumulated enormous liabilities during an era when interest rates were artificially suppressed, and they became accustomed to refinancing those obligations at virtually no cost. That era is ending, and the bond market is beginning to demand a real return for financing governments that have absolutely no intention of balancing their budgets.

This is the part politicians never understand. Government debt does not disappear when the bond matures. They issue another bond to repay the old one. That works beautifully while rates are falling because governments continuously refinance yesterday’s debt at cheaper rates. But the entire mechanism reverses when rates rise. A bond issued years ago at 1% eventually matures and must be replaced with debt costing 4%, 5%, or perhaps more. The principal did not increase, but suddenly the cost of carrying it explodes.

That is precisely what is happening now. The IIF estimates that advanced economies paid more than $3.3 trillion in interest on internationally traded government bonds last year. The organization says mature-market governments are now spending more on interest than the world invests in AI, defense, or energy. Government is increasingly borrowing money not to build something productive but simply to finance obligations created by previous borrowing.

The United States has already crossed $40 trillion in national debt. The 10-year Treasury yield has now pushed above 5% and reached its highest level since 2002. France’s 10-year borrowing costs are approaching 5%, their highest since 2002, while Britain’s 30-year yield has crossed 6% for the first time since 1998. Japan, which spent decades suppressing interest rates near or below zero, is watching its own bond yields climb to levels not seen in decades. This is not one isolated country making a policy mistake. The bond market is repricing sovereign risk across the developed world.

The real problem is refinancing. OECD governments are expected to use roughly 78% of their borrowing this year merely to refinance existing debt rather than finance new spending. Think about that. Governments are going into the bond market primarily to roll over yesterday’s promises. As those bonds mature, the old low rates disappear and are replaced by today’s higher rates, causing interest expense to rise even if politicians never create another new program.

That creates a vicious cycle. Higher interest expense increases the deficit. The larger deficit requires additional borrowing. Additional borrowing increases the supply of government bonds that private investors must absorb. Investors then demand higher yields to compensate for inflation, fiscal risk, and the enormous supply of paper coming onto the market. Those higher yields increase interest expense again.

Central banks can attempt to suppress rates, but eventually they face the currency and inflation consequences of doing so. Japan demonstrated that for decades. The Bank of Japan could buy government bonds and manipulate the yield curve while inflation remained dormant. Once inflation returned and the yen weakened, that policy became increasingly difficult to maintain. The BOJ is now raising rates while Japan carries one of the largest government debt burdens relative to GDP in the developed world.

The United States faces a different version of the same problem. Washington needs enormous amounts of capital every year merely to finance deficits and refinance existing Treasury securities. Foreign governments once absorbed enormous quantities of American debt as part of their reserve systems, but the market has increasingly shifted toward private investors who care about PRICE. They will buy the debt, but only at a yield they consider worth the risk.

Governments then face choices politicians hate. Raise taxes, cut spending, allow interest expense to consume more of the budget, inflate away part of the obligation, or attempt to force domestic institutions to absorb government debt. None of those choices creates prosperity. They merely determine who ultimately absorbs the loss.

The developed world spent decades lecturing everyone else about fiscal discipline while constructing entitlement systems it could not finance, expanding governments it could not afford, fighting wars with borrowed money, rescuing financial systems with borrowed money, locking economies down with borrowed money, and pretending that zero interest rates had somehow eliminated the consequences.

Now the debt is being refinanced at higher rates, interest expenses are rising, and bond investors are beginning to demand compensation for the fiscal behavior governments once mocked emerging markets for displaying. The sovereign debt crisis does not require governments to announce default. It begins when the cost of maintaining the debt starts consuming the government itself, and that process is already underway across the developed world.

QUESTION: Marty, you had a Panic Cycle for the Democrats in the Senate for the midterms. You said that there was a window for them to take the House and Senate thanks to this Iran War. Do you have any update on that projection?

WL

ANSWER: The Democrats closed exactly on the Yearly Bullish Reversal in the last election. We see resistance up to 58, We have a Double Directional Change in 2027 and a Panic Cycle with a Panic Cycle following the 2028 election. I have warned that Trump MUST throw Netanyahu under the bus. His refusal to do that will be devastating in this election. Bush Jr, lost thanks to the Iraq War when his approval rating was at 48%. Trump is down to 34%. These neocons used Netanyahu as their Trojan Horse. I believe they were brought in by Kushner and do not care about the country, the people, or the politicians they manipulate. They just want their wars. This increases the national debt; interest rates are rising because the war drums are beating everywhere, and the Democrats will push through more spending for Ukraine and then will hunt down citizens, claiming we do not pay our fair share, proving this is no democracy when they refuse to ask the people Shall we go to war.

The Democrats are incapable of ever comprehending the economy. No matter how many time they try their Marxist agenda, it always fails. They simply are incapable of every rational economic though. The Republicans also do not fully comprehend the economy. This election will NOT be about ideology and the Democrats never see to comprehend that – th’s the economy stupid.

Perhaps you will remember 3  years ago, Democrats thought that being against January 6th was a thing that united everybody and be a winner. They convinced themselves about that and watched that fail before their eyes. They painted Trump as anti-women and filed countless lawsuits and Trump was saying the 2020 election was stolen. Trump is unpopular because of gas prices and this endless war with Iran that was not for America, but for Israel.

I believe his son-in-law Kushner got Netanyahu in and he is going to regret that decision. I warned that the computer had picked up that the defense stock all began to rally the week before the Hammas attack on October 7th. Egypt’s Intel Chief Called Netanyahu Personally to Warn of Hamas Attack Days Before Oct. 7. Netanyahu,

I believe, Netanyahu allowed the attack to take place to give himself justification to destroy Gaza that same as FDR allowed Japan to attack Pearl Harbor that forced the Senate to investigate. Even Project Northwoods showed the CIA wanted to kill American to justify invading Cuba. An opinion poll by Maariv newspaper found that 80% of Israelis want to hold Netanyahu responsible for failing to secure the border and allowing Hamas to enter Israel. Only 8% believe he should not be held responsible.

It was the CIA that killed JFK because he wanted peace. These people who start wars convince them selves that there is an enemy and if they are not destroyed, eventually they will attack. They do this all the time and NEVER do they EVER tell the truth.

The Democrats are a one-zebra party. They talk the rich into giving them money making them think have money is evil. Like in ancient times, they would donate money to the temples trying to buy their way to the afterlife. The Democrats are still preaching Socialism that got FDR in office so they think, but in truth, it was the economy. They can browbeat the billionaires to give them money to buy their stairway to heaven. They simply will ALWAYS vote for the opposite side and where they go wrong is assuming the people are buying their ideology when they are not.

The Democrats guilt the billionaires into hand them money as if this will make up for their wealth. King Croesus of Lydia, who established the bimetal monetary system, did donate a massive amount of gold and other treasures to Delphi before his war with Cyrus to win the god’s favor and a favorable prophecy. His Massive Donations according to Herodotus, were legendary in their scale. He melted down a vast amount of gold to create 117 ingots (bricks). Four of these were pure gold, weighing two and a half talents each (about a kilo 32 ounces), while the rest were a lighter gold alloy – electrum.

He also donated a Golden Lion that he also commissioned ten talents weighing 600+ troy ounces. That was not the end. He sent immense bowls, a golden statue of a woman (said to be his baker), and his wife’s necklaces and girdles. Before sending the gold, he sacrificed 3,000 cattle and burned couches, cups, and purple garments on a huge pyre. All of this was to buy favor of the gods which is the same guilt trip the Democrats use to manipulat the billionares.

They country has become so polarized that this not about what is good for the country or the people. Their centerpiece is Trump and without him at the center of all of this, they offer nothing new but higher taxes and a deeper division in American culture since the people who voted for Trump, still was the endless wars and get back to basics. As I said, the Democrats are incapable of understand what the country needs and Trump will not admit a mistake with Iran. It is clear that the values or principles Republicans believe in are still present even though Trump is increasingly too focused on Iran.

The Democrats don’t have anything but oppose whatever a Republican presents. This is why the next two years into 2028 will merely confirm out Economic Confidence Model that projects a sharp global recession into 2028.

By 2032, there’s going to be a new census, and things are going to get worse for Democrats. The press is not looking at anything objectively. People are not grasping this monumental shift is unfolding in politics. People are leaving California for Texas, people are leaving New York for Florida, and it’s just going to get harder for Democrats to win as our computer projects into 2028. Mandami is destroying NYC and even Wall Street is moving to Texas.

The Republican Party has also been hollowed out as Donald Trump and his refusal to admit a mistake on Iran will get worse as Europe is determined to have was with Russia and will be screaming at Trump to send American to defend yet another socialist failing state. While we see that the Progressives will destroy the Democratic Party, we may also see the demise of the Republicans and a complete new party emerge that finally is responsive to the people when both parties pursue their own agendas. With one model project 78.3% for a Republican victory, there is a major possibility that this is reflecting a new party altogether as both sides comit political suicide into 2028.

This is NOT my opinion. I do not have the luxury to be partisan. Besides, we all have opinions, but opinions and $4.65 will get you a Venti Skinny Vanilla Latte at Starbucks. I cannot beat my own computer. It calls the shot based on the data – not who I want to see win or lose.