The Economic Revolution Occurring in Europe

Posted by Martin Armstrong - Armstrong Economics

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keep-calm-and-start-a-revolution-6Britain’s Chancellor of the Exchequer Revolts Against Merkel & Draghi

Hammond is a welcome relief and has come out openly departing in the policies of Draghi and Merkel stating: “The markets need calming signals. You need to know that we will do everything necessary to keep on track the economy. “ 

Hammond came out and stated that it is time to rethink the economic policy of his country and in reality Europe. He stated rationally that the entire idea of  austerity was the appropriate response to the financial crisis of 2008. However, Hammond stated bluntly that the world is in a completely different position today. Effectively, Hammond outright fundamentally rejected the economic policies of Angela Merkel. What we are beginning to see is an economic revolution against the idea of Merkel’s austerity programs. From Italy and France, we are also hearing the same rebellion. The new British Finance Minister Philip Hammond, was appointed as  Chancellor of the Exchequer on July 13th, 2016.

also from Martin Armstrong on the ongoing economic and political revolution:

“The Rule Of Law No Longer Means Anything”