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fb101
Administrator
USA
2856 Posts |
Posted - 01/03/2010 : 17:20:31
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Prechter became a household name in 1987 when he correctly called the market crash before it happened. After that there is a divergence, and I'll put out my theory for the divergence; After the crash in '87 Prechter had said we had hit the top of a long peak and were due for a prolonged decline. We all know that didn't happen (or do we??) and I guess that he was discredited on that basis. (If anyone is a E-wavist, I'm not so feel free to correct my terminology)
So I see two possibilities which still allow him to keep his' credibility. The first, that '87 may have been the peak of >> real growth << and all other growth we've seen being the actually a non-growth based on artificially low interest rates and bubbles. The second, if anyone wants to debate the growth issue, is that at the time he could not see the coming of the internet and the resulting degree of actual growth on that basis.
Like I said, I'm not a wavist so I'm defending him on a fairness point of view, not necessarily agreement.
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VIDEO: Robert Prechter - Deflation
Forum Locked
Posted - 01/03/2010 : 01:12:29
