ROBERT PRECHTER JR. - SOCIONOMICS INTERVIEW part 2

Interview with Robert Prechter released in November 2009 about the Elliott Wave Pinciple, Socionomics, recent market moves and how he started studying all of it.

Category:

People & Blogs

Tags:

• elliott wave principle
• socionomics

[jdbrown371]

@haveabeer

Prechter accepts that hyperinflation can occur but definitely not before a deflationary period. We must be vigilant and on our toes. Never has being prepared and informed been so important.

[herbs814]

@haveabeer123

Schiff calls an inflationary depression based on excessive growth in the money supply. Prechter calls for deflation based on reduction in credit outstanding. Harry Dent also calls for deflation based on demographic changes. As Prechter notes (part one) the credit supply is much larger than the money supply. As Dent explains, there is also a reduction in peak spenders (fewer people to spend borrowed credit). There will be less spending despite the Fed's fiat money supply creation.

[Nuanceqwest]

My money is on prechter, because prechter focuses on the psychology of people whereas Schiff focuses on the fundamentals/results.  I studied Economics in university and had I not lost a lot of money in the stock market, I would've believed that the Keynsian model taught in schools.

Schiff and Faber are just following what is taught in schools, however, I do think that the economics taught worldwide in schools is going to change after the depression.

[ctrader09]

I struggle with the same thing you do...They both are intelligent, and I think they are both right, except I think we will have deflation first. What peter schiff misses is the fact that the amount of credit denominated in dollars dwarfs any amount of money printing the fed can do, thus we will have net deflation. as prechter said in this interview, after all the debt has either been paid off or defaulted on, we can go into a Zimbabwe type scenario. you could say they are both right

[haveabeer123]

that´s crazy... I´m really confused now. Wohm to follow... Peter Schiff or Bob Prechter... they are calling 2 completely opposite things... One is calling deflationary depression and the other one is calling inflationary depression. Both sound extremely convincing, so I´m having a tough time taking sides.

[myrtle68]

You're right Bob, unfortunately your TOO EARLY! The deflationary scenario you speak of is going to occur AFTER the inflationary consequences of out of control quantitative easing. Anybody that's quoted as stating they are correct that gold is in a bear market unless it breaks $10K/oz is a special kind of stupid. Sorry sir, no disrespect but you're mixing apples and oranges 5 years too early.

[TheAryam1]

good video !!!where is part 1?