Here are predictions that Elliot Wave Theorist, Robert Prechter , made in October He is a smart guy and has been right on many things, which explains his staying power and ability to still move markets. Grab the Ambien after the reading. Stock markets around the world will continue to fall. Ultimately, the averages will drop more than 90 percent. Real estate values will fall more than they did in the s and s.

Rating services will resume the trend of downgrading bond quality. Eventually, states, counties, cities, corporations and even nations will default on bonds in record amounts. Debt packages made of mortgage-backed bonds, auto loans and credit card debt will become viewed as unworthy investments.

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Many, if not most, pension plans will fall in value and be unable to provide the promised benefits. Anger over this development will result in demonstrations, violence and tardy and ineffective political reform.

Prices for collectibles will continue to fall.

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Many will become little more than curios. More banks will fail than failed in the s. The total amount of credit outstanding worldwide will decline substantially. The Federal Reserve chairman will be labeled a fool who is greatly responsible for the collapse.

The trend toward economic contraction that began in will continue to develop into a depression. The unemployment rate in the U. A record number of manufacturing companies in the U. Bush, as we have said since his election and through his highest popularity ratings, will lose the election, probably in a landslide.

Did not happen, mainly because the stock market held up. A Democrat will be the next president.

I think it will be Hillary Clinton, currently not a candidate. Did not happen, but came close in as Hillary Clinton lost the Democratic primary to Barack Obama who became president.

A less-likely but possible alternative is that many regulatory agencies will be abolished. Wave a of the bear market in social mood will bedevil more than one president. The occupation of Iraq by the U.

Stocks may bottom in , or in Prechter | Reuters

Terrorists will attack the U. Did not happen in this timeframe. Separatist movements will gain momentum. Many will successfully establish new geopolitical entities. Fears about technology will lead to restrictions on its development. Politics will become far more polarized, splintered and radical. Other Social Trends Social groups, including economic, political, religious, genders and classes, will polarize and splinter further. That is, they will polarize both internally and with respect to opposing groups.

The birth rate will continue to fall in the U. Religion will become increasingly popular. Its advocates will become increasingly passionate. Religious intolerance will increase. Belief in magic will increase. Science will be turned to manipulative or malevolent purposes.

Epidemics will increase in number and severity. Malaria will return to the U. Eventually, DDT will be re-legalized. Films will break new ground in horror, probably with themes that include suicide and torture. Environmentalists will become militant and intentionally destructive.

Professional baseball and basketball will suffer difficulties. New record performances by individuals will become rare. Attendance and viewership will fall. New brutal sports will be introduced and gain popularity..

Either gold, a currency backed by gold such as the Islamic dinar , or the Chinese yuan will take its place. The Federal Reserve System will be discredited and then abolished.

Regulatory and legislative reforms will limit, curtail or ban a number of structures facilitating speculation, such as options, futures, margin lending, hedge funds, mutual funds, IRAs and Ks. Fannie Mae and Freddie Mac will shut down. Financial news networks will change formats or go off the air.

Despite attempted manipulation by OPEC or any other nations, the world price of oil will decline. An exception may occur if production facilities are destroyed or shipping halted during wartime.

Countries will adopt numerous trade restrictions, import taxes and other protectionist measures. Consumer confidence will fall to record low levels. The number of new skyscrapers will decline dramatically. Social Security in its current form will fail. More countries will oppose U. Both patriotism and anti-government sentiment will grow into powerful emotional forces.

Openness and transparency will give way to secrecy. Spies and exclusive social organizations will have increased standing and power. Opposition to that trend will be vigorous. Conspiracy theories will become more plentiful, and more people will believe them. Race relations will become strained and violent.

The suicide rate will go up. Mob violence will break out more often than it did from to Mass demonstrations, expressing anger with some social situation, will occur. Hemlines will fall, and bright colors will go out of style.

Pornography will become more bizarre. These trends will meet with social and political backlash, as mainstream behavior will simultaneously become more conservative. Popular self-help books will change focus from wealth and self-improvement to surviving hard times and beating adversaries. Cults and other escapist communities will be established. Food scares, probably including mad cow disease, will hit the U.

Most restaurants will decline in popularity. Interest in producing the plays of Shakespeare will wane. Anti-gay, racist and xenophobic entities will organize and openly pursue their agendas.

Market timing will come to be viewed as the best approach to investing in stocks, although investing in stocks in the first place will be considered foolhardy. The demographic argument for a continued boom fueled by baby boomer spending and retirement savings will be transformed somewhere near the bottom of the decline into an argument that the same portion of the population will be responsible for a continued bust.

Many of the governments and corporate entities that have been bailed out by the U. The IMF, World Bank, the Fed and other financing entities will not bail them out. The IMF, World Bank and the United Nations will be shut down. After a period of exclusively derisive and negative popular allusions to the stock market, references to stocks in non-financial settings will become all but non-existent.

Countless difficulties attending the above events will occur. Bearish speculators will make a lot of money, and safety-minded investors will see their purchasing power rise. Affordable housing will become difficult to come by. Family members will move in with each other.

Suspicion or hatred of foreigners will increase around the globe. Nations will tend away from liberal, representative governments and toward dictatorships. The Drug War will turn more violent. Eventually, possession and sale of recreational drugs will be decriminalized.

Government will ration goods and services in which it is or becomes involved such as gasoline, vaccines, medical care, electricity, water, food, etc. International travel will be restricted, whether by statute or dangerous conditions. Third parties will gain political clout and win local elections.

Libertarians, greens and others will capture many local offices and probably at least one state government.

At least one of the two major parties will disappear or re-form. The number of Broadway shows will fall dramatically. Disney will close its NYC theater productions, and T. Square will become X-rated again. Well-off people will adopt fashions that conceal rather than accentuate their wealth. Gangsters, pirates and other outlaws will become popular folk heroes.

Entertainment media will feature fewer heroes and more anti-heroes. The Olympic Games will be cancelled at least once, if not terminated altogether. Organized labor will grow and become more active.

The number and severity of strikes will rise. Many amusement parks will close.

Scotland Star - Robert Prechter says stock market crash on track

The number of coffee shops in the United States will decline substantially. Per capita consumption of alcohol and other depressants will increase. Public art, such as sculptures and murals, will become ponderous and ugly.

See how many more come true by The man is a maniac who has not an original thought in his mind — he has perverted the work originally done by PQ Wall and gives him no credit I think PQ Wall would have agreed his extremism is just that, too extreme. Others are just plain fantasy with no thought to the changes that civilization is able to invoke as modifiers and reactions to events. Things can get out of control in a hurry but not as easily as he likes to infer.

A lot worse than a monkey. I followed him and used his investment strategies. Kept my money in cash and missed the investment of a lifetime. He is a fool and I was a bigger fool to fall for his garbage. His information is logical and there may well be a huge crash coming, but the fear mongering amongst the readers made me doubt my own instincts. But I actually speculated and shorted the markets hard and lost my life savings.

All based on his ever so convincing calls for an almost imminent drop. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email. Notify me of new posts via email. Enter your email address to subscribe to this blog and receive notifications of new posts by email.

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