This is from a month ago, but it is a wide-ranging discussion from a long-term point of view. Depew is a very sharp guy who saw deflation coming himself, so this is one of the best Prechter interviews I’ve seen.
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“Yes, a depression is a period that’s difficult for many many people, but it’s not the apocalypse, it’s not the end of the world. It’s just a tough period that’s gonna last, you know, five to seven years and then we’ll come out the other side.”
For a speculator, “there’s no better time than a bear market — they’re fast, they’re violent, they’re great.”
I had always thought Elliott Wave must be some kind of numerological nonsense until Depew (who I had been reading since 2007) posted a summary of socionomics for one of his Minyanville articles and I followed up on the idea.
As I have said elsewhere, I believe that the association of significantly lower equities prices (sub-1000 Dow if you must) with “apocalypse” and “the end of the world” is actually a symptom of bubble thinking — we are so accustomed and dependent upon high asset prices that we literally cannot imagine the sun coming up without them.
Yeah, it’s just the end of the world *as we know it*.