- the source for market opinions


May 30, 2019 | Polarization of the World in Trade & Taxes is Destroying Western Economies

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.


While there is a grave danger many speak of with trade wars creating protectionism, that is merely a reaction to the economic decline in the West. It is not merely trade wars; it is appearing also in tax wars. Germany bribing Swiss bankers to get names of Germans with accounts in Germany illustrates that we have gone way too far everywhere. Not even Hitler took it that far, and the whole Swiss secrecy came into play because Hitler made it illegal for a German to have their money outside of Germany. Chancellor of Germany, Angela Merkel, has herself made a comment limited to trade stating that:

“Frankly speaking, the country I have the honor to represent and where I am chancellor has difficulties. And polarization is something that we see in our country as well, which we haven’t had for decades.”

This polarization that is emerging is not simply due to trade. It is also because of taxation and the hunt for taxes globally to sustain governments. Historically, the free movement of capital post-World War II is what reconstructed the world economy. But the socialistic agenda that was adopted by governments has sought to redistribute wealth among the classes and justified bigger government on a grand scale never before witnessed in history. The tax rate in the ancient Roman Empire was about 5% with some paying as little as 2%.

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the Weekly Recap.

May 30th, 2019

Posted In: Armstrong Economics

Post a Comment:

Your email address will not be published.

All Comments are moderated before appearing on the site


This site uses Akismet to reduce spam. Learn how your comment data is processed.