Posted Aug 29, 2012 by Martin Armstrong
Former Clients familiar with the Economic Confidence Model have asked is this a rapidly advancing cycle as was the cast in 1989? The Answer to that question appears to be YES! There, we had the 1987 Crash on the half cycle followed by the collapse of Japan in 1989, and then the rise and fall of South East Asia as the US S&P 5oo bottomed precisely with the low of that wave in 1994. The accuracy was astonishing from the 1987 Crash right to the day, the peak in Japan 1989.95, and then the precise day of the low in 1994. This wave appears to be working in a very similar manner. This means August 7th, 2013 we must be very careful about next year. We will be looking at the global markets at the upcoming conferences (San Diego-Bangkok-Berlin) around the world. So yes! This is a very serious development. We may not last until 2015.75 and that could be the complete economic meltdown.
The US Government is closing its Iron Curtain around everything. Not only are European banks throwing Americans out, HSBC will not deal with Americans in Asia, American Express will not issue any card to an American even working for a foreign company outside the USA. The Post Office will not allow you to mail any cash. European mutual funds are now refusing to accept American clients and US mutual funds are starting to retaliate refusing to accept Europeans. Even the Hedge funds are being put at risk from draconian US laws that any foreign entity who deals with an American, must report what that American is doing overseas or their own assets will be confiscated in the USA. This whole thing is going completely nuts. This is not freedom, justice for all, nor “capitalism” – it is authoritarianism! Any American who even lives overseas owes taxes to the USA because he was BORN American. There is no “fair share” because you used or even received anything. Americans have become economic slaves and everything they produce or own is subject to the whims of the government pleasure.
Everything possible is being done to confiscate wealth. This is rapidly causing the collapse in the VELOCITY of money and is spiraling the global economy into a dark crater. This is all to pay bondholders. Those who have been counting on HYPERINFLATION fail to realize that the bankers will not stand for that. They demand the world be shaken down to its roots. We are entering the age of Atlas Shrugged. Capital is contracting. Global investing is starting to collapse. We are headed into something far worse than the Protectionism of the Great Depression. This is how you destroy freedom and civilization. So while they keep the idiots focused on abortion and gay marriage as the ONLY important issues to waste their votes, your economic future is being destroyed. The youth are not getting married because they cannot afford it and may be only the gays will be left who want to marry at the end of the day. Unemployment among the youth is outrageous. It has exceeded 50% in Spain and this was the cause behind gangs roaming in Philadelphia attacking random people on the street as well as in London. Unemployment among minority youth in the USA has exceeded 50%. By next year, it looks like HYPERINFLATION would have been a blessing. This is the worst of the worst.