The Asian World Economic Conference
November 2nd & 3rd, 2012
Grand Hyatt Erawan Bangkok
494 Rajdamri Road, Bangkok, Thailand 10330
How to Survive the Sovereign Debt Crisis, Droughts & Global Warming, and
Global Correlation of Worldwide Investments
One Day Sunday only $750
Two Days $1,500 or $2,000 Including 6 month Subscription to the Global Market Watch Needed to Survive & Alert Updates
e are facing a real Global Meltdown that is brewing far beyond anything that is being traditionally covered in the general press and analytical circles. Greece was just the tip of the iceberg. Governments are imploding around the globe and there is no comprehension of what in truly unfolding. It is the Sovereign Debt Crisis that is rippling through the global economy that is profoundly affecting everything we see from investment to simply surviving our own future. Governments everywhere are clueless. They seek only to maintain power and pray at the foot of their bed that they will wake up and everything will be back as it was. They try to create fake bailouts while never fixing the problems. We are on the verge of such a profound event, that the outcome will not be hyperinflation, but catastrophic deflation as government become more Draconian and seek to confiscate all wealth.
The United States is hunting down Americans on a global scale assuming that any account outside the United States is to hide money not for international business causing a complete reversal in world trade as the velocity of money declines. Where in the 1930s it was protectionism that shrunk the economy, today the United States is destroying itself and employment potential for the youth. In Switzerland, the record fine for speeding is 300,000SF as fines are determined according to one’s net worth. Japan is also turning against its own people doubling the sales tax as its national debt will exceed $12 trillion dollars next year – not far behind the USA. Spain is in a really dire financial position. Capital is pouring out of the country equivalent to more than 50% of the annual GDP as wealth has taken flight fearing the worst lies ahead. Unemployment among the youth in Spain has exceeded 50% as civil unrest rises in the face of stupid economic policies that are driving the global economy to the brink of collapse and possibly war. Once Spain goes, there goes the EU. The Spanish banking system is on the verge of systemic complete failure. So much capital has been fleeing Spain the ECB is now pouring in on average, more than €300 billion on a monthly basis to meet liquidity needs. Since the total Spanish banking system is about €3 trillion in size, the financial crisis brewing is amounting to almost 10% of total banking assets on a monthly basis. This is simply unsustainable. Civil unrest is breakout out against austerity throughout Southern Europe and this contagion will soon affect the United States by 2014.
Governments worldwide are in crisis. There is a great disparity between the state and local governments where the latter cannot manufacture money at will as the sovereign national governments. This is a predominant source of deflation as bondholders demand higher taxes and austerity be imposed at the sovereign government levels to prevent hyperinflation and the devaluation of bond holdings. Of course bondholders will lose everything as they always do historically. Nonetheless, in the immediate term, they will demand their pound of flesh and government will respond by extracting that from the people destroying the global economy in the process.
If you think for one moment that sovereign government bonds are the flight to safety, you better wake up before it is too late. In the United States, government is about to cut spending and raise taxes sharply in 2013. The rhetoric of the Democrats is only watering the seeds of social warfare just to win an election. Outside the United States, the “rich” are also being hunted down like animals. In France, the dramatic rise to 75% taxation upon the rich is leading to massive capital flight. The French left-wing newspaper the Libération carried a headline when France’s richest man, Bernard Arnault abandoned France for Belgium and the newspaper insulted him with the headline “Casse-toi riche con!” (Get lost, rich asshole). In the United States, Obama chastised the “rich” saying they created noting on their own and they owed everything to the state and the people. This rising tide against anyone who has more money than the next guy is threatening the collapse of Western Society and all democratic ideals. Governments everywhere are pointing to the “rich” to blame for their own fiscal irresponsibility. They are targeting even the gold dealers making it illegal to deal in cash trying to assault the growing underground economy.
Local governments are in dire fiscal condition worldwide. The City of Philadelphia has chased out the “rich” and those left behind are the unproductive with their hands out demanding more. Governments are turning to property taxes that are not tied to income. Even in Greece they are now retroactively collecting property taxes from 2008. Regardless what you have in income, you owe taxes on the property irrespective of your current employment or income.
The city of Scranton, Pennsylvania reduced all government wages to minimum wage. In Spain, Catalonia, Spain’s most indebted region, announced it could no longer pay subsides in July to hospitals, old age homes and other social services.
In South America, Argentina is also in economic decline thanks to debt and there too we see local governments imploding. Normally, the provincial cities receive funding from the provincial governments. However, this has dried up in some areas turning cities into cash-strapped debtors who cannot pay their bills or even their own employees. They have turned to trying a raffle to determine which civil servants will receive their pay first. Employees will queue up to get paid and when the money runs out, those in the end of the line are out of luck. The first draw for the raffle took place on Friday, July 20th. Only 23 of the town’s 92 employees received their pay.
The mainstream press is simply not covering these issues. Federal governments continue to suppress free elections and free speech. In Spain, watch this one closely. Right now 6 out of 17 Spanish regional provinces are is serious budgetary crises. Since the federal Spanish government is itself in bankruptcy, there will be no white knight on the horizon.
Capital is fleeing everywhere, as it rightly should. Governments are in hot pursuit determined to destroy Western Civilization as they try to confiscate every scrap of wealth from the private sector as if this will somehow miraculously save the world and maintain the power. The only outcome is revolution or total dictatorial forms of government subordinating all human rights to the pleasure of the bureaucracy. Capital outflows from Spain have been more than €41.3 billion ($50.7 billion) in May, quadrupled compared to the outflow one year ago according to figures released by the Spanish central bank. For the first five months of 2012, a total capital outflow has been about €163.
This massive capital outflow is the same pattern we saw when our computer forecast the collapse of Russia that created the Long-Term Capital Management debacle in September 1998. This capital outflow is stripping banks of deposits and was the reason behind the banking conglomerate, Bankia, having requested a bailout in May. The Spanish government’s response has been to try to punish capital leaving.
Governments are out of control around the globe. This is the worst possible outcome we face globally. The United States has lowered the $10,000 reporting on the movement of cash to $3,000 at the bank level. They are going to cause a worldwide economic implosion of untold proportion. They are now trying to criminalize natural human behavior of protection one’s economic self-interest. Governments simply take no responsibility for their own actions. This is similar to a landlord renting you an apartment and saying that at any time he can raise the rent because he needs more money because he spent too much money having a good time.
The individual is always screwed. In Iceland, mortgages are adjusted according to the currency fluctuations. If you borrow 1 million Icelandic króna and the currency declines by 50%, you now owe 2 million. Banks have transferred the risk to the average person. People now owe more than what they paid for the house while wages do not fluctuate in such a manner.
The European crisis is spiraling down a debt vortex and the politicians simply refuse to reform. Germany is being dragged down the rabbit hole for the Debt to GDP ratio is up to 90% thanks to all these EU bailouts. In reality, Moody’s has put the Germany on a negative watch and it could lose its AAA credit rating as was the case with France last year. The IMF is simply dead in the water.
The Sovereign Debt Crisis is brewing. We will present the only possible solution at the at the World Economic Conference along with how to shelter your net worth and survive what could become the fall of Western Society because governments everywhere simply refuse to live within their means and stop this crazy borrowing with no intention of ever paying anything back.
This World Economic Conference will be held on November 2nd & 3rd at the Grand Hyatt Erawan Bangkok, 494 Rajdamri Road, Bangkok, Thailand 10330. We at Armstrong Economics are very excited to host our 2012 Asian event at this stunning venue.
Grand Hyatt Erawan Bangkok
494 Rajdamri Road, Bangkok, Thailand 10330
Tel: +66 2 254 1234 Fax: +66 2 254 6308
Because the economy is becoming so dangerous on a global scale and we are on the verge of a real economic implosion, we will offer the summary session on Sunday at $750 and the two day Event at $1500. The full service event with the 6 month subscription to the Global Capital Market Watch, which will be necessary to monitor the world economy at a glance, will be available for $2,000.
This will be exclusively a forecasting conference. We will be going over all the major world share markets, metals, agricultural, bonds, and currencies of North America, Europe, Asia, Australia-NewZealand. We are trying to make this available to the average investor who is forced to make the same decision a hedge fund manager does because of regulation that blocks global management availability for the average person. The summary section on Sunday is available for $750. The two forecasting event is $1500 and those wishing to include updates and the Global Market Watch for 6 months will be $2,000.
Please set up a Paypal username and password and use the below links to access the designated button for the California WEC. Please reference this email address- firstname.lastname@example.org
Full Service $2,000
Two Day $1500
Sunday Only $750
Two Penn Center – 1500 JFK Blvd, Suite 200
Philadelphia, Pa 19102