by Jim Rickards, Daily Reckoning:

Last Friday’s GDP number came in weaker-than-expected at 1.6% annualized, the weakest quarterly gain in almost two years.

I’ve written for months that there would be no interest rate cut by the Fed at their June meeting. Wall Street was putting the odds of a rate cut at around 70% and the stock market was rallying in anticipating the cut.

They were wrong, I was right. That’s not to brag, it’s just that I use a better set of analytic tools than they do.