Martin Armstrong was right!

Martin Armstrong said there would be a major waterfall event taking place sometime in December 2009. Dubai "HAS" defaulted on it's debt on Friday, November 27, 2009. Once again his Economic Confidence Model is spot on in predicting economic cycles. This prediction is a bull's eye call!! Way to go Martin!! Regardless of how the financial media and the so-called financial experts try to spin this story, Dubai HAS defaulted on its debt and will not be able to pay it back. Not in 6 months, not in 600 years! This is what happends when you play with derivitives (leverage backed by nothing) and you have 2 sets of accounting ledgers. Let's all stand under this waterfall with our soap (gold and silver) and cleanse ourselves of this economic filth!:))