Modern Capitalism Two developments paved the way for the emergence of modern capitalism; both took place in the latter half of the 18th century. The first was the appearance of the physiocrats in France after 1750; and the second was the devastating impact that the id eas of Adam Smith had on the principles and […]

Monetary History of France   The French Revolution erupted out of a major debt crisis thanks to the government’s reckless borrowing. France was threatened with insurmountable debt that brought the economy to its knees. The people were plunged into starvation and revolts began in the countryside.  King Louis XVI (1754 – 1793) convened the French […]

Part I of IV—A Brief History of World Credit & Interest Rates by Martin A. Armstrong ©Copyright PEI  3000 BC – 500 AD—The Rise and Fall of Babylon – Greece – Rome Credit is usually thought of as a modern invention of perhaps only a few hundred years old. It is true that a few […]

Abscissa – the horizontal baseline of a chart, x-axis. Ad Valorem Tax – A tax levied as a fixed percentage of the value of a particular item. Aggregate Demand – Total planned or desired spending in the economy as a whole in a given period. It is determined by the aggregate price level and by influences such as […]

Copyright Martin Armstrong All Rights Reserved March 25th, 2012 Sometimes I get such hate mail from gold bugs that you really have to wonder what is going on out there. It appears that some of these people are such fanatics that they loath anyone who dares to say there will ever be a correction regardless […]

Will Leverage Cause The Financial World to Blow Up? By Martin A. Armstrong Copyright October 9th, 1998 Princeton Economic Institute There has always been the question of leverage that enters into the process of any financial panic. The degree of leverage within the system is a key factor in determining just how severe the panic […]

by Martin A. Armstrong copyright October 7, 1998 Princeton Economic Institute The sheer chaos that is unfolding within the financial markets has now reached a level that simply requires government intervention within the foreign exchange sector. We have warned repeatedly that government intervention is wrong and that it disrupts the world economy by attempt to […]

Can the World Be Saved? Global Meltdown post July 20th Hedge Funds – Fed Social Threats of War & Designing A New World Financial System by Martin A. Armstrong copyright October 3rd 1998 Princeton Economic Institute There has been much turmoil in the past several weeks that has led to considerable outcry for everything from […]

Global Meltdown Do we need to be “rescued from Capitalism?” By Martin A. Armstrong © September 16th, 1998 Princeton Economic Institute There is little doubt that the global economy is experiencing at the very least a short-term meltdown. George Soros’ comments yesterday calling for more intervention and bailouts because emerging market investors need to be […]

Crash of 1998 Is it Over Or Just Beginning? By Martin A. Armstrong Copyright September 9th, 1998 Princeton Economic Institute There was a sigh of relief yesterday when the markets rebounded sharply. So many began to tout what stock should be bought right away that the Fed is thinking about lower interest rates instead of […]