September 4, 2022 | Happy Marxist Day

On June 28th, 1882, President Grover Cleveland signed S. 730 law declaring Labor Day a national holiday. This was the era of Marxism as it was rising to become a popular theory.  Indeed, when the Panic of 1893 unfolded, there was a great uprising in Marxism as always blamed the capitalists for the depression. In 1848, Marx published his Manifest der Kommunistischen Partei originally in German in London. The first English-language edition was published in 1850. Since then, editions have been published in many languages worldwide. Ironically, it was one Pi Cycle from 1850 to 1882 to create Labor Day in the spirit of Marxism. The next Pi Cycle lines up with 2040.

So while Marxism was the dominant theory during the second half of the 19th century, our Wokeism and Cancel Culture have led to Juneteenth as a Holiday. Perhaps with every popular theory that emerges, we will get another Holliday. Curious to say the least.

Martin Armstrong September 4th, 2022

Posted In: Armstrong Economics

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