MANIFESTO OF THE COMMUNIST PARTY [From the English edition of 1888, edited by Friedrich Engels] A spectre is haunting Europe—the spectre of Communism. All the Powers of old Europe have entered into a holy alliance to exorcise this spectre: Pope and Czar, Metternich and Guizot, French Radicals and German police-spies. Where is the party in […]

THE ECONOMIC CONSEQUENCES OF THE PEACE by JOHN MAYNARD KEYNES, C.B. Fellow of King’s College, Cambridge New York Harcourt, Brace and Howe 1920 PREFACE The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he […]

COMMENTARIES ON THE LAWS OF ENGLAND. BOOK THE FIRST. BY WILLIAM BLACKSTONE, ESQ. VINERIAN PROFESSOR OF LAW, AND SOLICITOR GENERAL TO HER MAJESTY. OXFORD, PRINTED AT THE CLARENDON PRESS. M. DCC. LXV. TO THE QUEEN’S MOST EXCELLENT MAJESTY, THE FOLLOWING VIEW OF THE LAWS AND CONSTITUTION OF ENGLAND, THE IMPROVEMENT AND PROTECTION OF WHICH HAVE […]

The London Financial News April 21, 1997 View Across the Pond In its Present Form, EMU could Prove to be the EU’s Undoing, Says Martin Armstrong The debate over European Monetary Union has largely been argued both emotionally and technically from a theoretical perspective. Nonetheless, there is a much more serious issue of concern for […]

FOREX and Global Markets Winter 1997 A Few Home Truths about Volatility by Martin A. Armstrong, Princeton Economic Institute Markets all around the world are starting to experience greater spasms on volatility, both overnight and intraday. There comes a time with big trends when a battle between generations emerges that can be classified as the […]

THE ATHENIAN CONSTITUTION   by Aristotle Translated by Sir Frederic G. Kenyon Part 1 …[They were tried] by a court empanelled from among the noble families, and sworn upon the sacrifices. The part of accuser was taken by Myron. They were found guilty of the sacrilege, and their bodies were cast out of their graves […]

Glossary Abscissa – the horizontal base line 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 […]

Specific Model Applications What We Said October 16th, 1987 Timing on IMM British Pound Timing on CBT US Bond Timing on S&P 500 Futures Timing on Gold & Silver Cash Index Timing on CBT US Bond Futures Timing on Crude Oil Timing on Deutsche Mark

The Debt Crisis The Ultimate Defining Issue of American Politics There has been a lot of talk about bringing the deficit down. Clinton argued that issue in support of his massive $245 billion tax increase. While it is true that the deficit declined over the last two years, it is NOT true that this was […]

A Continued Era of Deflation or A Premature Expectation of Inflation? © Martin A. Armstrong Economists and analysts argue that double-digit inflation is something of the past – a freak of nature that took place during the Carter years of the mid-70s. On April 19th, 1993, Alan Greenspan (Chairman of the Federal Reserve) made a statement […]