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Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007

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http://www.elliottwave.com/s.a... '>http://www.elliottwave.com/s.a... 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: http://www.youtube.com/watch?v... 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 contrarian. But, what does it say about that establishment's state of mind when arguments based on facts and evidence make a person "contrary"? All the charts Bob included in that interview -- in fact, everything he said at the time and more -- is in the current Elliott Wave Theorist and Elliott Wave Financial Forecast. See it all on your computer screen in minutes, via the fast link below. http://www.elliottwave.com/s.a... '>http://www.elliottwave.com/s.a... ADD TO YOUR FAVORITES! EMAIL THIS VIDEO TO FRIENDS!

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: elliottwaveintl

Length: 07:07
Rating: 4.89
Views: 70223

Tags: 1987  analysis  banks  bloomberg  central  commentary  crash  Fed  japan  market  news  prechter  robert  stock  the  

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Video Comments

anyname666 (November 30, 1999 at 12:00 am)
Stay out of the flip'n stock market. get into real estate. today 11/22/08 the DOW is at an 11 year low.!!!Real estate is down a little but 3 times what it was 11 years ago.
ZombieOnDrugs (November 30, 1999 at 12:00 am)
Hi!
BipedalHumanoid (November 30, 1999 at 12:00 am)
not really sure what that comment was in aid of. I didn't say I didn't care about people losing their jobs... and nobody outside of the US has a 401K
jingling30 (November 30, 1999 at 12:00 am)
well when you loose your job and loose your 401 k don't come on youtube and expect anyone to care. After all - its just the big picture that matters.
51Sarge51 (November 30, 1999 at 12:00 am)
Yeah we didnt get affected too badly because we have a good economy, we have restrictions on things like this (unlike the US). But still heaps of people in the US lost everything, their money, their house etc. Moral of the story = getting greedy ruins lives
BipedalHumanoid (November 30, 1999 at 12:00 am)
I didn't say it was a good situation. Part of the reason for the aussie dollar drop against the US dollar was the 1% interest rate cut you guys just got. Low interest rates are good for mortgage holders.
51Sarge51 (November 30, 1999 at 12:00 am)
yeah ok but im just talking about the people who lost their houses and virtually everything. this isnt a good situation if thats what your getting at...
BipedalHumanoid (November 30, 1999 at 12:00 am)
A strong US dollar is a good sign. It's one of the ingredients required to get us out of this BAD situation. Historically 65c isn't a bad conversion rate. I was living in Australia when it fell below 50c.
51Sarge51 (November 30, 1999 at 12:00 am)
look what im getting at is that this entire situation is more BAD than good. It was caused by a bunch of guys who got too greedy. I just used that holiday as an example
BipedalHumanoid (November 30, 1999 at 12:00 am)
Their plight is also a tad more important than your holiday don't you think?

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