Today's sage-like reality skeptics can look forward to being monkey-hammered into fucking oblivion by their own denial.
Given enough time, human beings will believe literally ANYTHING, as long as it bears no resemblance to reality. Reality is the gift we were given, but it wasn't good enough so we threw it in the landfill along with everything else. Fortunately, religion replaced reality, so everyone gets to pick their own version of what won't happen.
Every month, we get to endure the denialists' paradise that is the employment report, with boy-man Steve Liesman (perfect name) telling us how record numbers of 25 year-olds are opting for early retirement:
And here it is, hot off the press...
ZH: July 2, 2015:
The devastation of the U.S. labor force continues. Participation rate at 1977 levels. Full time jobs still lower than 2007, despite 19 million added to the population.
Part-time employment level:
"Which stocks should I buy in a collapsing economy?"
For Prechter to be wrong, then every dumbfuck you ever met would be right for doubling down on the collapsing status quo after 2008. The Idiocracy didn't get away with anything these past six years, they just dug their own graves deeper than imaginably possible, with friendly assistance from glassy-eyed psychopaths of course.
Consumption sentimentality versus reality aka. what used to be the economy:
In other words, human beings are an ungrateful species, in a constant state of denial, who need to be tattooed with an enduring lesson, and it just so happens that an inconvenient monkey-hammering is on the way...
Prechter places bets, that given enough time, people will blow themselves up. He can't be wrong, he can only be early. The longer he is deemed "wrong", the more brutal the outcome.
When people want to know who to blame for this collapse, they need look only in the mirror. The premise of Elliot Wave Theory is that human beings are their own worst enemy. Forever oscillating between greed and fear. It doesn't have to be that way, it just is.
Prechter can't be wrong, he can only be early. With the banquet of consequences steadily accumulating in the meantime.
And right now the banquet is on a scale no one can describe.
So they don't. Not even Prechter.