Part 2/7:
Armstrong began by asserting that the global economy is on the brink of a recession set to bottom out around 2028. According to him, the roots of this downturn lie in a decline in economic growth, coupled with insurmountable debt issues, particularly highlighted in regions like Japan and Europe. He expressed concerns that political leaders, especially in the U.S., might attempt to blame protective tariffs initiated by the Trump administration for the looming recession, but emphasized that this is a global issue spanning beyond any single administration.