The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Tuesday, June 9, 2015
EWT Only Works When Everyone Thinks That It Doesn't
Too blinded by their own greed to see that they are the biggest risk to their own future
Typical reader comment:
"RN Elliott developed his theories studying charts when the US was on a gold standard and couldn't create money at will. Also, central banks were not working in collusion with each other (and with GS, JPM, Citi) as they are now.
I think the EWT tool has dulled and is no longer effective. Sure, they'll be some isolated "twice-a-day broken clock" accurate calls, but his record is not impressive, otherwise why would he and his 33-year employees still need to work."
At the extremes, markets are driven by two key factors: GREED, and FEAR. Fundamentally, that's all Elliot Wave Theory (EWT) is saying.
But as for collapse, that inevitability is strictly compliments of the dumbfucks who ignored 2008 and who now believe that printing money is the secret to effortless wealth:
The Dow logarithmic (i.e. proportional with respect to percentage gain):
The secret to effortless wealth: Printing money to inflate stocks, while the economy is shipped to China, a strategy reserved strictly for the dumbest fucking society in human history:
Dow with Fed balance sheet:
But per the Idiocratic Oath: "No one can predict the inevitable"