Dear Doves,

 

As I keen watcher and reader of fivedoves for the last 8 years, one of the "signs" that I have been watching most closely is the state of the global economy.  Back in '99 I started reading the works of Robert Prechter of www.elliottwave.com.  For over 30 years, like the founder of EWT (R.N Elliott) he has predicted that massive asset devaluations would occur around the beginning of the 21st century.  These predictions are based on solid theory and indicate, for example, that the Dow Jones Industrial Average will fall below 1000 points.  Following the top in the Dow in Oct 07, it is quite possible that this precipitous drop has commenced.  A drop below the 8000 level would indicate decisively that it has.  A decline of this magnitude is of a larger scale than what happened in the 1930s.  In Elliott Wave speak, we appear to be entering a "Grand Supercycle Wave" correction (the great depression was a "supercyle wave" correction, one degree lower), which is likely to wipe out the entire increase in asset values that have accrued ever since the late 18th century. 

 

Significant declines of cycle degree and higher are normally associated with increasing unemployment, political instability and wars. We've never in modern history seen a correction of this magnitude and the effects are likely to be earth changing....I've always thought that it must coincide with Daniel's final seven years.  For me, it is the clearest sign of all.  I highly recommend the doves become familiar with EWT.

 

cheers,

 

winston