Stocks still face deflationary collapse - Robert Prechter, August 17, 2009

Robert Prechter CNBC Video Interview, August 17, 2009;Robert R. Prechter is an American author and stock market analyst, known for his financial forecasts using the Elliott wave principle joins CNBC to predict the direction, asset markets are likely to take in the near future.

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[BringBackCapitalism]

Good Point. Even Marc Faber recently changed his tune. It's possible that we'll go through the deflationary depression, immediately followed by hyperinflation.

[BringBackCapitalism]

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[trublu97]

@herbs814

How is the "charts tell me gold is done at 1250" looking?

ah, so sad-too bad. People wonder why 5% of the people control 90% of the wealth?

Its because 95% of the people are dumb asses and use charts/lines to make decisions.

How is the prechter news letter doing? Instead of getting 11 years of constant gains, prechter has been losing big trying to short. well, he hasn't, but the dumbass subscribers have.

[trublu97]

@herbs814 a "bit" higher? Gold is 150-200 bucks higher and silver is 100% higher.

Gold is topping now? Wait, I thought your charts said it was topping at 1250? Sound like your charts are just guesses. So, predict the top, get blown out. Repeat until right and put out advertising showing you called the crash.

CRB, all time high. Silver is up 100%, gold stocks up 100-500%- 1000% in junior space. Oil( topped out at 72-not!), up 30% and climbing.

[herbs814]

@trublu97

calls are always preliminary (and protected with stop losses). just because gold has extended its rally a little bit higher, you're willing to get sucked in at the top?! USD is rising. Gold is topping below 1500.

Do you not realize that gold and stocks are declining in upward momentum, breadth, and volume -- in preparation of a severe correction to the downside? 2011-2012 will feature a stock market crash even more severe than 2007-2008... severe enough to take gold down with it.

[trublu97]

@kswatcher I can go one, better: He has been/was calling for gold to (no has to) test $239 bucks before it could start on the bull trend when gold was $330. This was in 2002. Jim Sinclair offered an open bet at the time, of 1million dollars that gold would hit $500 bucks (a 65% increase) before it printed $300 bucks (only a minor correction of 10% at the time).

He passed, which tells you all you need to know about this joker. Which is this: talk is cheap, unless you are subscriber.

[trublu97]

@herbs814 1250 gold topped? Wrong again, Ace.

What other charts ya got?

Maybe you can put those darts to use, because I would bet the darts over your E-wave voodoo...

Prechters long term calls? You mean the crash he called in 2002? (and 2003, 2004, 2005, 2006, 2007, 2008....Nailed it! time to write a book and go on the CNBC tout channel!)

Yeah, the "call" is there will be corrections in the future? Nooooo Wayyyyy. The market changes, that is the call? Stall long the dollar, pal.

[straty01]

@ctrader09 well we agree on something at last, social mood is deflationary, debt implosion looks likely, interesting how the Yen has appreciated so much, given their population growth required to service their 200% of gdp, when they can no longer service this debt domestically they will get into a 'debt trap', US states also require more funding, China's real estate bubble looks wobbly,philly fed data last week was terrible too, its the paper bugs vs gold bugs, long USD for me too

[ctrader09]

@straty01 Gold has risen in terms of all currencies, not just the USD. The Global fiat money system is collapsing, and the Dollar-denominated debt is contracting, so the remaining Dollars become more valuable. The only reason the Dollar is so weak is all the credit inflation. This has not been currency inflation, like zimbabwe or Wiemar Germany, this has been CREDIT inflation, courtesy of U.S. banks. When all that credit inflation is undone, the U.S. Dollar should be MUCH stronger than it is now

[straty01]

@herbs814 we could possibly be heading for a correction on stocks, the dollar way have bottomed after Fridays NFP, we will have to wait and see what bubbles ben says next week, maybe we are nearing the end of wave 2 and the most powerful wave 3 is due

[straty01]

@ctrader09 why has gold risen in price vs the USD for 10 years now peanut? Prechter himself has been bearish on gold for years, just like a broken clock he will get it right eventually. In the 1970's the USD was worth 300 yen, today it is worth 86 yen, In 2002 the USD was worth 1.60 vs the Canadian dollar, today it is worth 1.0173, now tell me how 'strong' the USD is?