Economist and forecaster Martin Armstrong suggests that we may see a top out some time after Labor Day. This is one guy to listen to and consider seriously, because as some of you may know, he was essentially imprisoned for trying to control the economy of the world. If you have read about Mr. Armstrong, you’ll know that he never actually did that, but rather,Â that his forecasts were spot on for the gold top in the 1980’s, the S&L top and the crash in Japan, as well as tons of other economic and financial forecasts – and this scared the sh*t out of certain parties who wanted him out of the picture. He utilizes cyclical theories he has developed over the last 30 years, and they seem to be pretty accurate. In a letter to ContraHour.com, posted August 26, 2009, Martin Armstrong had this to say:
We got the rally after a 17.2 month low, but it looks like a high after Labor Day, retest of support into 2010, then we may see new highs for 2015.
It does not look good on the debt front, US, Europe, Africa, you name it, it’s bad except China.
You can read more about Mr. Armstrong’s current outlooks and other ideas in his most recent articles posted up at Scribd:
Will the Dow Reach 30,000 by 2015?
Big Thanks to Contra Hour for posting this personal correspondence from Mr. Armstrong.