He has advised central banks, powerful political leaders, and has testified before Congressional committees on economic cycles and monetary and currency issues.
At present, he’s extremely concerned about the gross distortions central bank policies have had on the global economy. Excess liquidity has caused asset prices to become recklessly inflated while enabling otherwise-doomed companies to persist by feeding off of the cheap and plentiful capital.
But while Armstrong predicts this “one giant mess” “is not going to end nicely”, he warns that things may get a lot more deformed, especially in the US, before the break point is reached.
With so much of the rest of the world beginning to succumb to the arriving global recession, capital is fleeing towards the relative safety and positive returns offered by America’s financial markets.
As a result, Armstrong sees the US stock market continuing to power higher from here, with the Dow Jones Industrial Average potentially tagging 35,000 by 2021.
- Source, Peak Prosperity
