July 20, 2024

Athens News

News in English from Greece

Famous American economist predicts the collapse of the West following the example of the Roman Empire

Renowned American economist Martin Armstrong believes that the world as we know it is going through its last days, just like the Western Roman Empire once did.

According to “Forecaster” (Forecaster, his nickname), investors should keep an eye on the whole world, that is, the global economy, because everything is interconnected.

“The failure of a large bank in the United States could have a negative impact on the entire global economy. In addition, these are very turbulent geo-economic times. How can you leave your money, that is, invest, in a country where there are tanks on the streets? How can you invest in a country where assets are inflated. Many people are ignorant, they compare the current situation in the US with the Great Financial Crisis, but then we had a natural bubble, the balance was balanced.”says Armstrong.

“Today, geopolitical risks are obvious: Ukraine, China, Taiwan, the Middle East. But the problem for the United States is that China is the largest holder of American debt. They gave up $53 billion in bonds in the first quarter of 2024 and counting. Treasury Secretary Janet Yellen tried unsuccessfully to prevent this.”adds Armstrong.

Asked about the degradation, Armstrong said that the BRICS countries had initiated processes to challenge the US currency in response to Russian sanctions: “The biggest stupidity was arming the dollar and ousting the Russian Federation from the SWIFT system. Lagarde started it, and Obama followed. So in 2019, Russia and other BRICS countries found an alternative to SWIFT. Such dictatorial behavior leads to the end of empires, burying them. Yellen and Biden are suicidal.”

According to Armstrong, the current immigration crisis is reminiscent of the last days of Rome. Just as Rome collapsed from the hordes of the Huns, so Western states will collapse from the hordes of Latin Americans, Asians and Africans. “It's a mistake to think that immigrants will adapt to Western standards. If you look back in history, it's a matter of culture, says the analyst. – It was not the single currency that contributed to the progress of the United States, but racism. Anyone who did not speak English did not board the ship sailing to America. Modern immigrants carry the culture of their countries, they are completely different animals than us. Even Ukraine and Russia have cultural differences that, among other things, contribute to increased hatred.”

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