I'd say you probably rushed this post a little. My understanding of MA's 2015.75 call (irrespective of whether you think it is rubbish, missed the date, or flip flopped) is for the possibility of a final surge into bonds before the bond market suffers some kind of crisis and money flees into the US stock market. This article correlates with this possibility; negative yields in the sovereign debt market, a result of a funds flocking to the short end, looking for safety and return of capital, not so much return on capital.
This illustrates a possible unintended consequence of NIRP - a further push into bonds. Again, something MA has written of.
Look, it's very simple. Initially, his call on 2015.75 aka Big Bang was this:
Here (August 28th, 2009)
http://s3.amazonaws.com/armstrongeconomics-wp/2012/03/will-gold-reach-5000-809.pdf MA says It is coming into its own and is still poised to rally to at least test the $3,000 level if not much higher. And Government has promised the moon, and can no more keep their promise that Santa really eats the cookies. When there is no one who buys the US debt, that is when the ceiling will fall. We will see this most likely after 2010 and it appears the end may be 2015-2016. A 21 year bull market in stocks points to 2015 and a 17.2 year high in gold points to 2016. This does not negate the decline after Labor Day back into 2010 that seems to be shaping up.
I.e. by 2015\2016 the US debt should have collapsed, right? Did that happen? No.
Then he changed his call by saying that 2015.75 should be the peak in the US government bonds. Did that happen? No. As you told us the bonds are still rising and rising globally. So tell me, how did you arrive at the conclusion that his prediction was correct?
Now, as for "the bond market suffers some kind of crisis and money flees into the US stock market" on which MA based his prediction 32K-40K on the Dow. Why do you take this as a gospel truth? Just take a look what happened last year when bonds declined significantly. Did those funds moved into the Dow? No. Equities were down as well. And finally look at what is going on in Japan
https://research.stlouisfed.org/fred2/series/IRLTLT01JPM156N. The Japanese government bonds have been rising with no collapse and sudden shift into equities since 1990. And when Japanese bonds briefly declined, what did equities do? Did they always rise in response? No. When they did rise, was it because bonds declined? No. So there is absolutely no reason to swallow MA's bs.