Dr. Batra said the CRASH would have occurred had the Japanese not pumped more money into the US (i.e. buy up treasuries and bonds). At the time he published THE GREAT DEPRESSION OF 1990, he was cocksure the Japanese would not pump more money into the US because they had already lost helluva' lot of money in the US.
But the Japanese did the UNEXPECTED!!! As a consequence, the US market was artificially kept afloat, and the much anticipated CRASH did not happen.
However, Dr. Batra now believes that because the US market was given an extension of life in the early 1990s and huge debts have piled up since then and huge derivatives and hedge funds are in trouble, the "nightmare" this time will be for real! Let us earnestly hope he is wrong again.
You seem to be rather bitter about Dr. Batra's initial prediction. Did you lose money because of him? Well, I suppose after what he predicted did not pan out, you never bothered to find out what went wrong, eh? Somehow, rightly or wrongly, I believe many people are angry at Dr. Batra, not so much because of his failed prediction, but because they regard him as an upstart outsider.
BTW, Dr. Batra is only human and is prone to making errors (just like anyone of us) under circumstances beyond his/our control. In all fairness to him, let us not forget that when interviewed on US TV in 1989/90 he conceded, time and time again, it was conceivable his prediction might not happen and he earnestly wished it would not happen if ever that was possible! Much to my and others' relief, his prediction did not happen!!!
Dr. Batra does not necessarily have to have lots more trees cut down for the sake of publishing some more books of his. He could publish them on CD ROMs in the near future. |
