The problems with Prechter's doomsday

Japan is a nice place, with the best food there is. Takling about depressed stock prices... Dont know, people looked fine there, with genuine happy smiles. Clearly quality of life not decided by stock prices. Maybe japs decided other things are more important in life than money, like no stealing, or less social issues.

Not having desperate people around cost lots of money and cant be reflected in stock prices. Maybe if there was another exchage for 'quality of life'. Probably there you would see reverse relationship with stock prices....

more or less: differrent systems or countries is like choosing different pricing plans by your favorite phone company. most of the time you cant switch the plans :D :D
 
When ever you see something written by Bob Prechter just think Joe Granville. Birds of a feather - long term perma-bears.
 
Maybe the way to view Prechter is as a scare monger with an overlay of technical analysis to legitimize his stories? Is there money in scare mongering? Apparently, he's still in business. I think he got one prediction right, about 1982 when they introduced the 401k's and everybody started buying stocks, his analysis showed that we were in for a bull market...
 
Another problem to add:

7. In the deflationary bear market bomb, the Dow and the S&P lose 90% of their value from the peak. Yet, the dollar will be in a multi-year bull market, as the need to grab dollars to pay of debts, margin, etc. ensues.

Okay, I agree that the dollar has reached a bottom with all of the bearish news and views. And yes, if the dollar rallies, the markets will probably pull back a healthy amount. However, with a multi-year strong dollar, the Gov't will have soooo much more power and tools, and probably have no problem writing off consumer loan debts, or sending $10,000 checks to every household... etc.
 
Quote from pspr:

When ever you see something written by Bob Prechter just think Joe Granville. Birds of a feather - long term perma-bears.
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Joe Granville says stock market will go up for next 2 years, CNBC Street Signs, Aug 31, 2009.
Prechter was bullish last March/April. EWT had their free week recently.

Easy to verify these yourself.
 
Quote from Fractals 'R Us:

Prechter was selling a pricey book in 1996 that predicted the grand supercycle whammy full on crash and burn.... for 1995!! I know, I was an absolute newb trader and I bought the thing.. it was my first lesson in "advisers". His followers missed the whole runup from 1995 to 2000... I had a 401k that did very nicely in those years, I'm glad I bought that horrid book after 1995 or I might have listened to his advice...

How does this assclown keep getting attention? Does he have a show somewhere.... googling: I guess he gets on CNBC every so often.. I don't watch any of those shows at all...
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Keep repeating the same thing long enough and eventually you will be proven right ('when' you will be proven right is another matter entirely)
 
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