Martin Armstrong: Open Letter to the Guardian

Posted by Martin Armstrong - Armstrong Economics

Share on Facebook

Tweet on Twitter



The Guardian headline is supporting government propaganda that 9 out of 10 economists warn of a dire future if Britain exits the EU. For a newspaper who published Snowden, I would expect a lot more integrity on this issue. The Guardian is reporting propaganda on a grand scale. They reported that “Some 72% [of economists] said that a vote to leave would most likely have a negative impact on growth for 10-20 years.”


The propaganda implies that economic growth in Britain has benefited from the EU single market since it joined in 1973. Let us expose the lies and corruption propagated by this pool of economists. Using the government’s own statistics from the Office for National Statistics, annual economic growth for Britain peaked BEFORE it joined the EU and has been declining ever since. This forecast that leaving the EU will have a negative impact on British economic growth is clearly a bunch off lies. Annual economic growth for Britain has fallen ever since it joined the EU in 1973. Each rally produced a lower economic growth peak.


Palm-ReaderThis is the end of Britain if it remains in the EU and the media will not tell the truth or expose what is going on all to save the jobs of bureaucrats at the expense of their own families (feel free to forward this article to everyone). The British pound peaked against the dollar in 1864. It has been a bear market long-term. If the pound simply now closes below 14600 for 2016, it will fall to make new historic lows well under par to the dollar seen back in 1985.

Economists are notoriously incapable of forecasting the future. Larry Summers publicly admitted on Bloomberg that they are incapable of forecasting anything. I think they would have a far better chance of consulting a palm reader than a mainstream economist. If they cannot forecast the future, all they do is mouth whatever the government pays them to do. I have stated it before, when I was asked by the government back in 1985 to effectively “save the world” it was clear, they have such hearings only as a dog and pony show. The government then stands up and does what it wanted to do anyway and pretends they consult experts.

…continue reading HERE

…also more from Martin: The Dow & The Confusion