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We Warned You It Was Coming

Courtesy of ZeroHedge. View original post here.

Submitted by Econophile.

This article originally appeared in the Daily Capitalist.

U.S. and foreign stock markets took a beating Thursday.

I wish to take this opportunity to thank the Daily Capitalist’s DoctoRx who gave us a heads up on the markets starting early in May. In his articles since then he has continuously warned us about the stock market and gave us sage advice on gold, gold miners, and silver investments. The Doc has a strong record of investment success over almost 30 years of investing. He is also Austrian in his views and we are grateful that he is contributing to the Daily Capitalist. 

And, to sound my own horn, hopefully not too loudly, we have been forecasting economic stagnation for quite a while. So while most economists had believed the U.S. economy was headed for strong economic growth, we were warning that this was coming since February, 2010, and the data has borne us out. We believe that our foundation in Austrian theory economics has allowed us to give the only satisfactory explanations of what is occurring in the economy.


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