|
|
Video: Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007 - Minor Gold Stocks
| Video: Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007 www.elliottwave.com Watch Robert Prechter on Bloomberg TV on the 20th anniversary of the 1987 stock market crash predict what is unfolding before our eyes today. An uncannily accurate forecast from the man that forecast the 1987 stock market crash. Why would anyone think that the Fed's actions have any influence whatsoever on the trend in the stock market? The Fed has similarly cut the discount rate twice in recent months, and on all occasions (Sept. 18, Oct. 31, Jan. 22, Jan. 30) the stock market immediately rallied... only to see prices give back those gains and more, within a few short days or weeks. Mind you, these are recent and relatively minor instances. There are longer-term examples that unfolded for years, such as the Fed's historic campaign in 2001-2002 that saw a DOZEN rate cuts, during which time the S&P 500 lost HALF of its value. More dramatic still was the Bank of Japan's campaign that took rates to virtually ZERO for entire decade, even as their Nikkei stock index declined and/or languished over the entire period. There's nothing new about this information -- we've spelled it all out before, as recently as Bob Prechter's Nov. 27 and Jan. 24 appearances on Bloomberg television. Watch Prechter on Nov. 27: www.youtube.com With charts and facts, Bob showed how powerless the Fed really is; he also reminded the audience that "People should be careful of what they wish for when they ask for lower rates." Yes, the financial establishment labels Bob Prechter a X;b>...X;/b> |
Reply Options Share your opinions, advice, questions or comments on this post. | You must a registered user and logged in to use this feature: It is quick easy and offers many advantages when using our site. |
Social NetworkingShare this with your friends on facebook, twitter and Google+ | | Social sharing because it feels good:
| |
|
Tags and TaggingTags help organize related posts and resources by topic. | • stock market crash • |
|
