Legendary financial and geopolitical cycle analyst Martin Armstrong says the President has the power to reopen the entire country. Armstrong explains, "He doesn't want to use it, but he actually has the power to open up the entire country. I wrote a piece on this, and it's called the Commerce Clause (in the U.S. Constitution) which governs. They (the governors) have no legal authority to shut down the economy-period. They cannot do that. The Commerce Clause prohibits interference with interstate commerce-period. . . . Increasing the money supply, which is what the Fed is doing right now, is not going to save the day because the amount of money lost on a leverage basis is 20 to 30 times that. It's like throwing a bucket of water into the wind, it's going to come right back in their face. They can't stimulate enough. It's impossible to overcome this. . . . The only way to overcome this is to open up the economy. We have to get the productive capacity back up, which is what wealth is and you are destroying that. 70% of employment is with small business."
Martin Armstrong is a world renown economist and the creator of the Economic Confidence Model. He is the founder of Armstrong Economics - a public service and blog for the average person to comprehend the global economy and for professionals to access the most sophisticated international analysis possible.