One Bear Feeling Good About Deflation Call

Peter Brimelow published an article titled, One bear feeling good about deflation call, on MarketWatch which highlights Robert Prechter's outlook for deflation.

However, much of EWFF, and of the Elliott Wave Theorist, the more high-concept companion letter edited by Prechter himself, is devoted to a loving macroeconomic analysis examination of the consequences of unfolding deflation, including a detailed technical analysis of the falling velocity of money, a problem monetarist economists generally dismiss (except that it seems to be happening).

Prechter writes:

"Objectively, the elements of a worldwide bank run are firmly in place. All we need do now is wait for the inexorable turn of the wheel to see it happen."

"In 2008, there was A credit crisis. The next five years will bring on THE credit crisis."

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