by Martin Armstrong
Armstrong Economics
The year 2015 was not long ago, and yet the entire world economy has changed. Central banks mismanaged monetary policy through arbitrarily low interest rates and continuous printing to appease the bigger issue—fiscal policy. Fiscal policies are all but nonexistent in most of the modern world, and government spending has become one of the largest threats to the global economy. The COVID lockdown pushed these issues into overdrive, and world leaders usurped power that they have refused to relinquish.
This is a global issue. Canada’s opposition leader Pierre Poilievre has highlighted how much has changed within one ECM cycle, as the last major turning point hit in 2015, and asked Parliament to imagine they had awoken from an 8-year coma.