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The Greatest Bull Market in History (1986)

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In this book originally published in 1986, Martin Armstrong provides insights and theories into the real cause of the depression like European capital flows to the US, Fed Reserve manipulation of interest rates to help Europe (which backfired in bringing European capital flows to the US), foreign bond issues in the US, bond market crashes not stock market crashes create a depression, rise of interest rates towards the end,…etc.

Marty’s blog,, is renowned for daily economic insights and perspicacious thoughts on the equity, commodities and bond markets. The website also has various articles from history going all the way back to ancient Mesopotamia to the present.

This PDF was taken from the now defunct Princeton Economics website. The original book is out of print and very difficult to find a physical copy. Used copies have been sold on Amazon.