no way, Prechter and his army of goombas are clueless
they are one-dimensional thinkers, ignoring fundamentals
when one deals strictly with charts, one misses the left brain contributions
just a wildass guess scenario HERE.....
by autumn 2004, gold hits $487, completing major EW3
then it comes down to $414, killing off some gold enthusiasts
before it takes another minimal small car of believers to $550
that might happen by spring 2005
then it is off to the races, toward $700
and the public participates to some degree
amidst pundit and Wall Street crucifixions
by then we will have some clear evidence of price inflation
but that will not last for too long
only the USEconomy will suffer badly from price inflation
we in the USA are the worst offenders, thus the greatest victims
nothing will work much anymore, as the Fed is discredited to the core
every time the Fed attempts more monetization miracles, the USDollar dives another level down
the Vicious USDollar Decline puts our currency in a death spiral
321gold.com
EuroZone will have some price inflation
they too will have printed too much free money
and Japan will falter once again, but regain composure
Chinese expansion will hurt Japan's export machine
but since China will be Japan's colonial bastion, they will prosper
recall that Japan has a monster trade surplus with China
but this will ensure a powerful JYen continued rally past parity
the Japanese will finally begin to spend some of their $11 trillion in savings
by 2006, we will see more price disinflation inside USA shores
with the whole episode of two years price inflation subdued
China will ensure it, as they come of age, flex muscles
they will suffer a "healthy correction" while USA suffers a major crippling correction,
complete with more debt defaults and at least one year of $1 trillion in federal deficits
the USEconomy will be largely killed off
as real estate and jobs both suffer mightily
commodity price rises and energy price rises are unrelenting
our economists and leaders will scratch their heads in confusion
they will scratch their nuts in consternation
the US public will come to hate anything to do with econommists
they will slowly become hated targets who destroyed our economy
Prechter fools will be shut up until the EW3 correction down to $414
then they and their folly will be silenced as secular asset deflation continues
but gold skyrockets from debt distress and monetary failures
I warned you, this was straight off the top
what the heck !!! gotta think ahead
so far, what we have in 2003 here is largely what I saw ahead in 2002
the biggest surprise was housing continuing recklessly higher
which only gaurantees its fall will be harder
/ jim
p.s. the Jackass Oracle (dont laugh too hard, mon ami) |
