Category Archives: Financial Education

10 Years Ago Today: Prechter’s Conquer the Crash Is Published. Read 8 Chapters Free Now

We’re sharing 8 Conquer the Crash chapters FREE to celebrate!
June 25, 2012

By Elliott Wave International

In June of 2002, the notorious dot.com bust was making way for a powerful housing boom, the European Union was growing, and American involvement in the Middle East promised a “quick and easy victory.”

Yet when EWI President Robert Prechter’s first edition of Conquer the Crash published ten years ago on this date, he wrote:

  • “Home equity loans are brewing a terrible disaster.”
  • “What screams bubble — giant historic bubble — in real estate is the system-wide extension of massive amount of credit.”
  • “The Middle East should be a complete disaster.”
  • “Look for nations and states to split and shrink.”

Today, 10 years later, the U.S. housing market still hasn’t overcome its worst downturn since the Great Depression; the eurozone is in crisis, and the expected quick victory in Iraq became a drawn-out mess.

Prechter’s analysis — based on the Elliott Wave Principle and socionomics, the study of how social mood motivates social actions — enabled him to foresee these changes in the economic, social, and political landscape.

What other eye-opening forecasts do the pages of the Conquer the Crash reveal? How about:

Banks: “Banks are not just lent to the hilt, they’re past it. In a fearful market, liquidity even on these so called ‘securities’ [corporate, municipal, and mortgage-backed bonds] will dry up.” (Remember the 2007-2009 “liquidity crisis”?)

Bonds: “The unprecedented mass of vulnerable bonds extant today is on the verge of a waterfall of downgrading.” (Remember the 2011 downgrade of the U.S. Treasury bonds?)

Credit: Credit expansion schemes — the primary role of the U.S. Federal Reserve Bank — “have always ended in a bust.” (Again, think back to the “credit crunch.”)

And — “Like the discomfort of drug addiction withdrawal, the discomfort of credit addiction withdrawal cannot be avoided.” (You could say that again.)

Anticipating “shocks” to the global system is a remarkable and true, decade-long achievement of Prechter’s Conquer the Crash. And on the 10th anniversary of its publication, we’d like to offer you 42 pages of excerpted material to commemorate Prechter’s work.


Take advantage of this FREE, 8-lesson report that can help you prepare your financial future. You’ll get valuable lessons on:

  • What to do with your pension plan
  • What to do if you run a business
  • How to handle calling in loans and paying off debt
  • And so much more

Get Your FREE 8-Lesson “Conquer the Crash Collection” Now >>

This article was syndicated by Elliott Wave International and was originally published under the headline 10 Years Ago Today: Prechter’s Conquer the Crash Is Published. Read 8 Chapters Free Now. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

The Day of American Austerity: What Will It Look Like?

In the United States, the belt-tightening has just begun

By Elliott Wave International

Since the start of the European sovereign debt debacle, the word “austerity” has been bandied about a lot.

It wasn’t an everyday word, and may send some people to the dictionary. Merriam-Webster defines “austerity” this way: enforced or extreme economy.

But even knowing this definition might leave one wondering how “austerity measures” relate to Europe’s debt crisis. The Associated Press (5/13) provided this overview:

Austerity has been the main prescription across Europe for dealing with the continent’s nearly 3-year-old debt crisis, brought on by too much government spending. But what does it mean for the average European? Imagine paying sales tax of 23 percent or more. Or having your wages cut by 15 percent. Austerity comes in many forms: higher taxes, fewer state benefits, more job cuts, working longer until retirement, you name it.

How about America? Will austerity measures be imposed on the world’s largest economy? Well, a Marketwatch columnist says “America’s new Age of Austerity is already here…Yes, America is already in a depression.” (5/29)

We agree. In fact, Robert Prechter said as much in the September 2011 Elliott Wave Theorist:

Bulls say the economy is in recovery, albeit a weak one. Bears are calling for a “double dip” recession, like the back-to-back recessions of 1980 and 1982. But, as is often the case, we disagree with both camps: The economic contraction of 2007-2009 was not a recession; the respite since then is not the start of a new economic expansion; and the economy is not going to have another “dip” into recession. The economy has been sliding into depression.

The signs of an American austerity are becoming widely visible. And nowhere is this belt-tightening more evident than in state and local governments. Recent years have seen a multitude of stories that describe reduced services. And in the overall economy, we’re seeing a de-leveraging of debt. Unemployment remains relatively high. Here’s a CNBC headline from today (5/30):

Sign of the Times: 20,000 Apply for 877 Auto Job Openings

This story about a new automobile plant in Montgomery, Alabama is one of many like it that feature jobless or under-employed individuals standing in line.

Above I showed the September 2011 quote from Robert Prechter. Yet he actually foretold much of what is financially happening today in his 2002 book Conquer the Crash.

That’s right. Ten years ago, he described what this age of austerity would look like. Much of what he described looks just like what is going on today. But how about the rest of what’s described in Conquer the Crash?

Yes, there’s more. You see, Prechter pointed out much more than what unfolded in the 2007-2009 financial crisis. Do yourself the biggest of favors and learn what he has to say. Be one of the few who are prepared vs. the majority who will be caught off-guard.

How? Right now, Elliott Wave International is offering a special FREE report with 8 lessons from Conquer the Crash to help you prepare for your financial future.

In this 42-page report, you’ll get valuable lessons on:

  • What to do with your pension plan
  • How to identify a safe haven (a safe place for your family)
  • What should you do if you run a business
  • Calling in loans and paying off debt
  • Should you rely on the government to protect you?
  • Money, Credit and the Federal Reserve Banking System
  • Can the Fed Stop Deflation?
  • A Short List of Imperative Do’s and Don’ts

It’s not too late to prepare yourself for what’s ahead. Get Your FREE 8-Lesson Conquer the Crash Report Now

This article was syndicated by Elliott Wave International and was originally published under the headline The Day of American Austerity: What Will It Look Like?. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Credit Crisis: Are We Set Up for The Perfect Storm?

Robert Prechter discusses what’s backing your dollars
January 26, 2012

By Elliott Wave International

In this video clip, taken from Robert Prechter’s interview with The Mind of Money, Prechter and host Douglass Lodmell discuss “real” money vs the FIAT money system, and what is backing your dollars under our current system. Enjoy this 4-minute clip and then watch Prechter’s full 45-minute interview here >>

Watch the full 45-minute interview FREE

Get even more valuable insights as Mind of Money host Douglass Lodmell interviews Elliott Wave International’s President, Robert Prechter, about how to keep your money safe, the deflation versus inflation debate, and many more topics that are critical to your financial future.

Start watching the free 45-minute interview now >>


What Is Backing Your Deposits in the Bank?

By Elliott Wave International

Is the bank really the safest place to keep your money? Robert Prechter joins the Mind of Money host Douglass Lodmell to discuss what backs bank deposits and how you can keep your hard-earned money safe.

We invite you to watch the interview below. Then read Robert Prechter’s free report, Discover the Top 100 Safest U.S. Banks.

What is the best course of action to safeguard your money?

Read our free 10-page report, Discover the Top 100 Safest U.S. Banks, to learn:

  • The 5 major conditions at many banks that pose a danger to your money.
  • The top two safest banks in your state.
  • Bob Prechter’s recommendations for finding a safe bank.
  • And more!

Download your free report, Discover the Top 100 Safest U.S. Banks, now.

This article was syndicated by Elliott Wave International and was originally published under the headline What Is Backing Your Deposits in the Bank?. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

It’s FreeWeek at EWI: Get Complimentary Commodity Forecasts, Video Analysis, Trading Lessons and More!

Greetings!

Do you happen to be a trader like me? If so, please read on as I’ve got a special freebie to share with you.

Elliott Wave International has just announced the beginning of their popular commodity FreeWeek event, where non-subscribers can test-drive some of their most popular premium services.

Now through noon Thursday, October 27 (Eastern time), you’ll get complete access to all of EWI’s most-promising daily, weekly and monthly opportunities in the world’s leading commodities, plus all the charts, world-class analysis, video forecasts along with a treasure chest of trading lessons and more! (Subscribers normally pay $49/month for these services.)

Learn more and get instant access to EWI’s FreeWeek of commodity forecasts and trading education now — before the opportunity ends for good.

FreeWeek is one of EWI’s most popular programs, and it’s perfect for anyone curious about EWI’s subscription services.

Regards,

Alan

About the Publisher, Elliott Wave International

Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world’s largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.

Get a Act of God Plan

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In light of recent natural disasters around the globe-earthquakes, floods, fires-it seems only to right to recommend having an Act of God Plan, especially if you live in a disaster prone area. Ensuring you have a safety net set up should you get into strife through no fault of your own is paramount to survival, and easy to arrange.

1. Have a Cash Stash

Always have a little amount of cash hidden in your house should you find yourself in a situation where you have no access to money. Flooding will easily cause shortages to cash machine dispensers, and often in a crisis situation many staff will not be working as they’ll be sorting out their own affairs. The only problem with having a wad of cash in the house is the associated temptation. To avoid dipping into the stash when you’re a bit short of money, keep it in a locked up section of your emergency grab bag, and if you’ve already been involved in a natural disaster you won’t need reminding of why it’s important to keep your mitts off.

2. Carry a Credit Card

Even if you don’t normally carry a credit card, it’s a good idea to have one should you find yourself in a sticky situation. Whether you’ve lost your wallet or need to pay for accommodation, clothes or food, having a credit card can make things a little easier in dreadful circumstances. One advantage of having a credit card is their emergency assistance feature-emergency funds can be wired to wherever you are, should you have that function set up on your card.

3. Invest in Insurance

While most of us hate giving money to the insurance companies, it is worth it when you run into problems, be it travel, home or content insurance. The golden key is to read and double read the terms and conditions. Yes, they’re ludicrously boring and often hard to understand, but it will make all the difference when you come to making a claim. Also, talk to someone to clarify their terms if you need to. However, sometimes things happen that you’re just not prepared for so wouldn’t know to ask about, or check. In the Brisbane floods, in early 2011, a number of people who took out flood insurance in good faith were told that their claims would not be awarded because their houses were insured against flooding, not inundation from the river!

4. Emergency Contact Numbers

Pretty much everyone owns a mobile phone these days, and rarely lets it out of their sight. However, when you’re caught in a freak flood and all you think about is hanging on to your nearest and dearest, your phone no longer seems so important. Having a few numbers memorized is a good idea. And while it seems obvious, because most phones are set up to show names not numbers there is little opportunity, or need, to remember other people’s numbers. Just one or two contacts are all you need to let people know you’re safe. They can then contact others on your behalf.

5. Safe Place to Stay

If you’re unfortunate to be caught in a natural disaster, but lucky to be near your family, go stay with them until things start to return to normal. If you live in an area prone to bush fires it’s important to have a substitute home organised prior to fires breaking out, that way you know exactly where to head without having to think about it in an adrenaline fuelled situation. Sometimes things happen that you just can’t plan for, so if you’re travelling in an unfamiliar city and don’t know anyone in the immediate vicinity, head over to any of the disaster relief centres where you’ll be offered a place to stay and support during what could potentially be a terrifying and lonely time.

This article was written by William from Life Insurance Finder. Visit Life Insurance Finder to compare Income Protection Insurance