A proponent of the Elliott Wave theory for market forecasting sees trouble ahead: a slide worse than the Great Depression or the Panic of 1873.
The Dow, which now stands at 9,686.48, is likely to fall well below 1,000 over perhaps five or six years as a grand market cycle comes to an end, he said. That unraveling, combined with a depression and deflation, will make anyone holding cash “extremely grateful for their prudence.”
A Market Forecast That Says ‘Take Cover’
By JEFF SOMMER
Published: July 2, 2010
WITH the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely.
Tami Chappell for The New York Times
If Robert Prechter is right, one market analyst said, “we’ve basically got to go to the mountains with a gun and some soup cans.”Mr. Prechter is convinced that we have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.
Bring in 55,000 poverty stricken unskilled bottom of the barrel 3rd world immigrants? Sounds good to me, we have that many coming in daily from Mexico.
ReplyDeleteThey will of course receive welfare, free medical, free dental, free food, free housing, free _____________________fill in the blank, this sounds like an excellent scheme.
The goodoleusofa has plenty of money for these immigrants.
I warned everyone to watch out for May 24, 2010 and the immediate 63 days to follow thru July 27 2010. During this this period we will see the downturn in The United States of America that will affect us for the next 5, 10 and possible the next 20 years that will be devastating to each and everyone. During this turbulent 63 period, we will see the complete truth told about the oil spill in the Gulf. The truth can't be told. It would shatter 20 millions lives in the southeast. The DOW will sink below 8900 on it eventually downturn to below 1000. Do now let this month go by without making some preparation. My guess is massive deflation. When I say massive, I mean massive. Don't get caught up in this debt trap. I told you about May 24 2010 and now I am telling you completely to get ready and prepare for the next 10-20 years.
ReplyDeletePLEASE GET READY. I am no nut case. Just get ready.
I have no doubt this will happen. I have told my millionaire sheeple slave friends and family who have all their money invested in the stock market this information. They will have no part of it. Their tv's are telling them we are in a recovery.
ReplyDeleteAnd sheeple believe anything their tv's tell them.
Hard to be sheepherders without a flock. All these gov'mint goons care about is the size of their flock, not the quality. Besides the dumber they are the easier they are to control.
ReplyDelete10:17, you keep talking about this impending doom but never back it up with reasoning... Tell us more
ReplyDelete1017 does not have to tell you, it is the truth and if you dont prepare, prepare to die, literally!
ReplyDeleteThe next 23 days will come
ReplyDeleteThe next 23 days will go
On the 24th day the sun will rise in the east and set in the west
Only small minded creatures who think they can change reality create false seasons.
We are the weak link and Mother earth will carry on regardless of what we say, think or do
I love this dude at 10:17 who writes "during this turbulent 63 period we will see the complete truth told about the Gulf Oil spill."
ReplyDeleteVery next sentence is " the truth can't be told"
This dude is a dude's dude - what a lackey on wackey tobaccey.
I will agreeon one point however - we are in for MAJORLEAUGE DEFLATION and all those numbnuts who have just hammered the hell out of my " greenback cash will be king for a period" can kiss my ass.
I know it's worthless, you know it's worthless - but guess what genius ? It's worthlessness will get you whatever you desire in the next 5-7 years
on the cheap to boot 'cause no one else has any -
Good ole Greenback CASH ! And another thing genius - there's only ONE place on the planet where EVERYBODY will park said cash when the SHTF
the UNITED STATES OF AMERICA
HU fucking RAH
11:58:
ReplyDeleteWhy would everyone park their cash in the US? Most of the elites have offshore accounts and there has been a definite move to the Euro. China, Russia and even Canada are all in fairly solid shape, especially comparatively.
My guess is that the US will find some way to falsify a war to spur economic recovery. The "War on Terror" was simply a test run to figure out how to best work the masses and stimulate the economy. My guess is the middle east will be re-targeted as a whole in short order, and we will "discover" intelligence indicating that there has been a mass plot by the Arabs to infiltrate and take over the US. Israel of course will confirm or even find this evidence.
At that point we'll go to war. By pillaging the relatively rich middle east, the US will be back on track.
This is 10:17. Commom sense will rule the day.
ReplyDelete10:17 how in the blazing hiaties can common sense rule the day when people like you write this unsubstantiated B.S. and then contradict yourself ( blatantly ) in the same paragraph ?
ReplyDeleteI agree - the "smart money" is parking their cash in the USA. It may not be for long; but for now like it or not, the greenback is the world's reserve currency and if total collapse is coming - it will be the last country to fall as the EU is already coming apart at the seams; no one other country is on large enough scale and China cannot even figure out how to supply it's population with potable water yearround let alone run the global banking system.
Iran war by 2015 plus minus 2 years, with draft and false flag attack on minor US city like Des Moines, Pittsburgh, San Jose etc 10-20k deaths. All BS of course but the sheeple will buy it all.
ReplyDeleteIt will only drop to 4,500....
ReplyDelete5:43 everything resets itself... Like every stock, home price, the earth, etc.
ReplyDeleteHow is cash still the world reserve? Do you see our bailouts working? Exactly, just more money printed to devalue our own currency and put the world in an even more hopeless predicament. Now many of them are pulling out and recognizing the dollar has shit to offer.
ReplyDeleteI'm not sure about 10:17's given date but he's more on the spot than other people here when they act like we have 10 years left before anything happens.
12:15, China and Russia are shithole dictatorships, Russians come to this country to escape their own, the Chinese aren't even allowed to have books on spirituality. Canada is just a degenerate form of the US.
And don't be so sure that your view on Israel isn't propaganda to blame the Jews yet again, and it would be people like you who will go down in history as having urged on the Great War III rather than warn against it like Icke and Jones believe they are doing...
2:22 this is 10:17. Show me some love man
ReplyDelete10:17, what preparations should we take? In addition to food supplies, weaponry, ammunition, winter clothing, first aid material, medicine, tools, batteries, flashlights, etc etc etc?
ReplyDeleteShould we close our stockbrokerage accounts and keep the cash, even if this means cutting losses?
If so, should we also close retirement accounts?
What should we do with cash on hand? Buy gold, silver, etc?
Please expound on the preparations. I'm not a nut either.
Plan for the worse, hope for the best?
ReplyDelete10:17 - I will show you all the love you can handle
ReplyDeleteJuly 28th 2010
DOW 1000 might be possible for a couple of months (a bottom of 4000-5000 is more likely), but then it will shoot up to 50.000+++
ReplyDeleteWhy? Hyperinflation !!! Investors all around the world will protect their wealth by massively buy stocks and dump worthless cash.
Take a look at the Brazilian BOVESPA index.
http://finance.yahoo.com/q?s=^BVSP
It's now at 61.000 points. The Brazilian economy is not 6 times bigger than the U.S. economy. This number is so large because of past large inflation numbers.
Get ready ... it will be fun !
10:17 response to 9:00 - If you have completed the basic as you have stated. I would gather 90% percent silver dimes and quarters (Before 1965)for bartering for the period between 2015 and 2020. How many should you get. The answer is as many as you can afford. You ask about cash in the bank - enough to pay bills. This site provide some excellent ways to survive. learn how to start a simple garden.
ReplyDeletecanada has never been nor will it be your degenerate form of the US you dumb dumb. it would seem as though our banking system is stronger (for now), our streets are cleaner, safer, people are happier, smarter, NOT sleeping with their cousins etc. Having said that, it is a good idea to plan for the worst and just hope the best comes along. Although, it would seem that the NWO has fudged that up for all of us.
ReplyDeletenot much different than pittsburgh moron. did you see the g20 there? as someone who came from europe said, canadians need to stop complaining about a police state, go to other countries and see what a police state looks like. what till your depression sets in and you will wish you lived in a police state. goofball.
ReplyDelete