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The Coming Wave of Creative Destruction – Martin Armstrong


QUESTION: You have said that we are in the middle of a shift in the economy similar to the Great Depression where agriculture crashed from 40% to 3% and this time it is government and technology. It seems that your warning of also moving to an electronic currency fits with your new age of skilled labor. So is this indeed part of your shift from the West to Asia?

ANSWER: Yes. It was that shift from agriculture that was forced upon society by the Great Depression and the Dust Bowl. This correlation of also weather with the Sovereign Debt Crisis in Europe, and the capital concentration in the USA that accounted for the 1929 bubble, all blended together to cause a paradigm shift or a new event of Creative Destruction. But look closely at the chart. Government grew from 22% to 33% for what followed was a Public Wave of expanding government.

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