March 17, 2012 § Leave a comment

Exposing Faux Capitalism

Gary north

It’s now 12 years, 2 months and 15 days after Gary North’s apocalyptic Y2K predictions failed to materialize, and not many days after that since he scrubbed all references to it from his website, GaryNorth.com.

Thankfully, there is archive.org, which shows his Chicken Little fear-mongering in all its glory.

On October 11, 2011, North took the opportunity of Steve Jobs’ untimely passing to spout off on how Apple’s fortunes were tied to that of Newton’s apple, and that both were inevitably going down.

The closing price on Apple shares the day before his article was $388.81 USD per share.

As of March 15, 2012, in anticipation of the new iPad 3, Apple shares traded at over $600 per share — a 54% increase in just five months since his bogus prediction.

Indeed, Apple stock will eventually go down from its Steve Jobs-era high. North didn’t put a date…

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