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August 23, 2023 | Society for 2032

Martin Armstrong

Martin Arthur Armstrong is current chairman and founder of Armstrong Economics. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.


History repeats largely because those in power NEVER consult history before they hand down some decree. The scheme behind letting all these migrants infiltrate the country is that they will vote Democrat and keep them in power forever. As I have said before, I was asked by Hong Kong to negotiate with Australia to try to buy land because it was being handed back to China in 1998. I met with the former Prime Minister Paul Keating. who at the time was the Treasurer. I explained I had a blank check and could pay off the national debt of Australia. The answer was always no. Out of frustration, I finally asked if this was a racist thing. He said no. He was Labour, and if they let these people into Australia, they would all vote conservative and change the politics of Australia.

This is why the Democrats are allowing the country to be flooded with migrants with ZERO skills and handing them $2200 a month, which is more than many get on Social Security. This is all politics. The migrants will be told who to vote for in 2024. After that, they intend to draft these people and send them to fight Russia in Eastern Europe.


During the 1840s, that is when the Sovereign Defaults were taking place at the State level. This unleashed what was called the “Hard Times,” coinciding with the migration from Ireland to America in the wake of the Great Famine of the 1940s. The proximate cause of the famine was a potato blight that infected potato crops throughout Europe during the 1840s, causing an estimated 1 million deaths in Ireland from famine and an additional 100,000 deaths outside Ireland. This also contributed to the civil unrest in Europe that became widespread and evolved into the European Communist Revolutions of 1848. This would eventually also influence Karl Marx (1818-1883) and his first edition of the  Communist Manifesto in 1848.


We must refer to history to see society’s past mistakes and understand what will unfold. The United States’ emerging market was engulfed in a Sovereign State Debt Crisis of the 1839-1844 period because Andrew Jackson wanted to destroy the central bank because his opponents had borrowed from the Bank of the United States. He moved the federal government funds to his “pet” state banks, unleashing what became known as the broken banknote era. Without a central bank, all the individual banks began to issue their own currency. The frauds were enormous. Nobody knew if the banks were solvent or not or where they even existed. Brokers in NYC would buy notes at a discount and from question one branch banks and place them into circulation.

The Panic of 1837 began the Sovereign Debt Crisis, unfolding into the Hard Times period. This economic event also destroyed the credit standing of ALL states and the Federal Government. Because people were already suffering from the economic crisis, the immigrants pouring into the United States sparked a real uprising, for they would work for little pay, taking jobs from the Native Americans. This became the Nativism movement, which was anti-immigrant. On top of that, the old English feud between the protestants v. Catholics merely resurfaced in America since the immigrants were Irish Catholics.

The population of Philadelphia more than doubled during the 1840s from 161,410 to 388,721. It spilled beyond the original city limits (from South to Vine Streets between the Delaware and Schuylkill Rivers) in all directions, which put a strain on the city not designed to accommodate such rapid growth. There was also no professional police force in Philadelphia at the time. Previously, during the 1830s, there was also the national abolition movement. Many blacks migrated to Philadelphia, taking jobs from the locals, which was the origin of the Navitism Movement. This manifested in the Pennsylvania State Constitution of 1838, which rescinded the right to vote among the free Blacks. This was not racist; it was sparked by the economic decline and the rising unemployment.

In 1844, the rise of Nativism appeared because of the economic depression taking the form of a political position of demanding a favored status for certain established inhabitants of a nation as compared to claims of newcomers or immigrants. Nativism typically means opposition to immigration and support of efforts to lower the political or legal status of specific ethnic or cultural groups because the groups are considered alien to the natural culture, failing or unable to assimilate, taking employment from native sons.


Then the migration of the Irish Catholics sparked the Nativist/Protestant sentiment to explode in 1844. The Catholics objected to having their children use the Protestant King James Bible in public schools. The Nativist groups spread a false rumor that Catholics were trying to remove the Bible from public schools. The old hatred from the English Civil War rose again. On the evening of Friday, May 3rd, 1844, a Nativist organization called for a meeting in the Kensington district. They reconvened on the following Monday, and this turned violent as gunshots were exchanged and a riot ensued. Nativists converged on the Irish Kensington district over the next three days and burned more than thirty buildings, including a Catholic school and St. Augustine’s Catholic Church at Fourth and Vine Streets.

Order was restored only by the government calling in the military to suppress the riots. As always, once the first blood is drawn, vengeance follows. Again, riots broke out on July 6th and 7th, 1844. It was really about people migrating to Philadelphia during the hard times and rising unemployment. Just with the blacks previously, this was with the Irish, and this too was manifesting in anti-Catholic sentiment at the growing population of Irish Catholics.

Nativist Riots broke out again in July after it was discovered that St. Philip Neri’s Catholic Church in Southwark dared to arm itself for protection against the protestant mobs using religion as an excuse for violence. This time, fierce fighting broke out between the Nativists and the soldiers who were sent in to protect the church. The protestant Nativists attacked the soldiers, and numerous deaths and injuries took place. The violence helped nationally fuel criticism of the Nativist movement, which claimed to be victims. The Nativist Riots also exposed the need for local police rather than troops to maintain order. Eventually, the police department was formed and consolidated in Philadelphia in 1854.

With all the immigrantion both into Europe and the United States under this Soros theory of an Open Society, is purely an academic fantasy. They totally ignore culture which is the key to understanding that such a mixture undermines the unity of the state. The Civil Unrest that our computer is projecting especially from 2024 onward, will be accelerated as it was during the 1840s by the economic downtrend from May 7th, 2024 to 2028.

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August 23rd, 2023

Posted In: Armstrong Economics

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