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5.0 out of 5 stars
Dead Accuracy, Oct 10 2002
This review is from: Conquer the Crash - You Can Survive and Prosper in a Deflationary Depression (Hardcover)
What Prechter has been predicting is rolling out before our very eyes. This book provides the reasons Prechter believes that the crash of the 30's was a walk in the park compared to what we will live through. In particular, he examines an area that not one in 10,000 of us understands according to Prechter. That's the role of the Fed in creating the most enormous credit bubble in world history. The changes our Congress made in the 90's gave the Fed the power to create virtually unlimited credit expansion and to monetize the debt of agencies and organizations on recommendation of the President. All this is why nobody talks about "printing" money anymore. The Fed just issues check books now. Prechter believes that our social mood determines the fate of our markets. Knowing that, one can watch this whole economic disaster unroll and understand why. You will miss a valuable education and new insights into the world of economics that may save your skin, if you miss this book.
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1.0 out of 5 stars
Book will be forgotten in a few months.., Sep 10 2002
This review is from: Conquer the Crash - You Can Survive and Prosper in a Deflationary Depression (Hardcover)
As a stock analyst by trade with a degree in Finance, I can honestly say that Prechter's book is not worth the paper it's printed on. This book is typical of the gloom and doom books that get written during every economic downturn and then utterly forgotten about whenever the cycle changes. There were dozens of these written in the early 1990's slowdown. The Elliot Wave Principle, like every other market-predicting tool, is generally useless. You might as well use astrology, it's about as accurate. Bottom line: If there's a way to predict the market, neither I (or anyone else) is going to reveal the secret. Yes, to the shock and horror of those Americans who were taken in by the greed of the 1990's, markets do indeed go down. To quote a popular wall street phrase, 'Bulls and Bears make money, but the Pigs will always get slaughtered'. Each successive downturn in our history has become less and less severe as government and industry work on minimizing the effects of the problem. However, for those of you who belive the glass is always half empty, you may as well head for the hills, hide under your bed, get out your radiation suit and buy lots of gold. The rest of us will be quietly continuing to work on getting rich slowly through prudent risk-taking and careful investing.
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1.0 out of 5 stars
Conquer Your Fears, Aug 12 2002
This review is from: Conquer the Crash - You Can Survive and Prosper in a Deflationary Depression (Hardcover)
Robert is a very glib person who the press understands and consequently they adore him. How can one descibe The Federal Reserve System in a a few simple chapters when the world's leading econmists can't even predict interest rates ? The Fed is more powerful than he thinks. He is using scare tactics more than common sense. The only truth or solid fact is that an investor can purchase 90 day US Treasury bills and keep rolling them over. In 1960 TREASURY BILLS YIELDED .50% and in 1932 at one point they had a negavtive yield because the buyer was sure he could redeem the bills at par value.($1000) at maturity. Save your money and find an honest banker or broker who charges a fair rate. ( $50 -$75). Cheerio!!!
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