Where are your long term trading advice figures at? Please post them so that you can make a more compelling argument against someone else that is selling something on the internet like you are. I don’t see any links to performance history on your website.

Prechter missed the bull market of the 90′s, common knowledge, of course his returns are going to trail. Hulberts rating service reports that The Theorist exceeded the performance of the Wilshire 5 over the 13 1/2 year period ending December 31, 1993, he missed the bull market of the 90′s probably the biggest mistake he will ever make.

Besides, what I posted above wasn’t even from him, it was just in his latest letter.

I also find his books on socionomics more than interesting, even better than books for dummies.

Now, as for your article, first of all, the Elliot Wave Financial Forecast is written by Steve Hochberg and Peter Kendall currently , not Prechter so I find it odd that the data track is run all the way to 2009 and then is given to Prechter. Prechter writes the Theorist letter, not the EWFF. Also, I’m a little confused b/c you state in your article that the forecast is tracked back to 1985 but I subscribe to EWFF and in a very recent article it just celebrated it’s 10th anniversary. Are they lying about that?

Next, you don’t even provide a link to Hulberts study so that readers can review it. For example, the EWFF reviews the dow, nas, s&P, gold, silver, and treasuries, was this study only applied to the stock picks? If it did I find it very interesting since you yourself made comment to BR many weeks ago, about the importance of diversification did you not?

I also like the language you use when describing his 87 prediction, or your chuckle towards Roubini.

The icing on the cake your article is the last para though. You are a tool.

http://www.erictyson.com/articles/20090616

“As things stands, we seem to be blithely following the same path that the Roman Empire followed. Our leaders are unable to understand complex systems and continue to implement solutions that worsen the problem. As the wise druid was trying to tell to Marcus Aurelius, building walls to keep the barbarians out was a loss of resources that was worse than useless. But I can see the politicians of the time running on a platform that said, “Keep the barbarians out! More walls to defend the empire”. It is the same for us. Tell a politician that we are in trouble with crude oil and he/she will immediately say “drill deeper!” or “drill, baby, drill!” Negative feedback kills.”

It started earlier than that. By the early 1980s, Solomon already had a massive lobbying force in Washington and so did the other major iBanks and big banks. Securitization of the housing market was in full swing and the congress had already pushed through a bunch of legislation to make borrowing an important part of people’s lives and corporate capital structures.

Some of the labor arbitrage is/was useful in that it was organic. But I think some of it was aided by tax incentives and a general war against unions not to mention the slave labor of China. Of course it was all done in the name of improving the bottom line, again for the investor class.

@onlooker
I am often derided when I speak about economics to those who are in denial. Most people simply do not want to hear the facts or truth. They do not acknowledge it, are too caught up in living each day to its fullest.