I did some research into Armstrong, whom I don’t think I’d heard of before. A market genius? Seems like it. Political prisoner? I’d say partially, but he did apparently have some questionable business practices not unlike Bernie.
A link to a Manifesto of sorts authored by Armstrong is here (long read, but very interesting):
However, at this point in time his predictions are off (from a March 2007 article):
According to the Princeton Economic confidence model, markets peaked on 27 February (2007) and can’t be expected to perform strongly in the year ahead. Armstrong is bullish for 2008, however, seeing a rebound for markets, housing and especially physical assets, such as commodities, that year. He notes that the fact many commodities peaked last spring shows capital flows are currently focused on the stockmarkets worldwide, and that after the panic selling clears, commodities will resume their bull market for the “next major leg up”, with oil going above $100 a barrel and gold well over $2,000 an ounce. The next major slump is forecast for 18 June 2011. Over the longer term, the next 51.6-year confidence cycle will end in 2032, plunging markets into a 1930s-style depression. He believes that the next 51.6-year cycle will be kick-started by a return to ‘big government’ economic policies, whereby governments intervene much more extensively in the economy.
