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Global Economic Collapse Of “Staggering Proportions” Warned Imminent
Link: http://www.whatdoesitmean.com/index1385.htm
Grim economic warnings are being sounded from the United States today after one of their top market forecasters and social theorists named Robert Prechter [photo top left] advised everyone to abandon the stock markets over what he says will be one of the largest financial crashes (of “staggering proportions”) to occur in over 300 years rivaling the Great Depression, the Panic of 1873, and the collapse of the South Sea Bubble in 1720, a crash so catastrophic it deterred people “from buying stocks for 100 years.” Important to note about Prechter’s dire warning is its being based upon what is called the Elliott Wave Principle developed by Ralph Nelson Elliott (1871-1948) that is a form of technical analysis that investors use to forecast trends in the financial markets by identifying extremes in investor psychology, highs and lows in prices, and other collective activities. Elliott, in turn, had based his new principle on the findings of the great Russian evolutionary theorist Peter Kropotkin (1842-1921) who in his book titled “Mutual Aid: A Factor of Evolution” countered Charles Darwin’s (1809-1882) “survival of the fittest” evolutionary theory by concluding that cooperation and mutual aid are as important in the evolution of the species as competition and mutual strife, if not more so.
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