As many know Robert Prechter was wrong since DOW 8000 to 14000. That's an embarrassment to be sure, but was he really wrong? Yes cash wise, which is the bottom line to you and me, he was very wrong. But in terms of the dollars actual value he was right. What a pity to be right, but wrong because the printing presses were running at full speed to print dollar bills.
We were ripped off without even noticing. All we saw was the value of real property soaring exponentially, and nobody wanted to look this gift horse in the mouth.
Well, finally the truth came out, and the party was over. But wait we can't end the party like this! Have one for the road! We have to bail out all the fat cats that might go under. Uncle Sam has some pretty deep pockets, but he has a lot of needy children, and now he has mortgaged the house, and pimped his wife just to support the children. It's an all or nothing bet, and Sam is in deep trouble. The wife is too old, and the loan sharks are not happy.
Analysis presented on this Blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.