Martin Armstrong - why promote a scammer?

[Lui Bunting]

Armstrong's claim to fame, his economic confidence model, is wrong, whether or not he is a scammer or well intentioned. His model is based on pi, 3141 days, or 8.6 years, and that's wrong because timing in our realm is never definite.

The entire financial industry that is based on technical indicators such as cycles, support and resistance and so on, the courses that teach this stuff and software that is based on these idea, is worth $3 billion to $5 billion yearly. That industry, is wrong, a fraud. Because it rests on an assumption that price movement or in fact the mechanism that moves the price can be predicted, based on just looking at the history of it. And the people who sell this stuff, they know it. Otherwise they would just keep it to themselves and make a profit. Armstrong's pi cycle is a pipe dream.

 

[axj]

The cycles theory may not be all wrong since astrological influences are cyclical. But it is certainly more complex than claiming that there must be downturns every x number of years.