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July 7, 2010
Global Economic Collapse Of “Staggering Proportions” Warned Imminent
By: Sorcha Faal, and as reported to her Western Subscribers
Grim economic warnings are being sounded from the United States today after one of their top market forecasters and social theorists named Robert Prechter [photo top left] advised everyone to abandon the stock markets over what he says will be one of the largest financial crashes (of “staggering proportions”) to occur in over 300 years rivaling the Great Depression, the Panic of 1873, and the collapse of the South Sea Bubble in 1720, a crash so catastrophic it deterred people “from buying stocks for 100 years.”
Important to note about Prechter’s dire warning is its being based upon what is called the Elliott Wave Principle developed by Ralph Nelson Elliott (1871-1948) that is a form of technical analysis that investors use to forecast trends in the financial markets by identifying extremes in investor psychology, highs and lows in prices, and other collective activities.
Elliott, in turn, had based his new principle on the findings of the great Russian evolutionary theorist Peter Kropotkin (1842-1921) who in his book titled “Mutual Aid: A Factor of Evolution” countered Charles Darwin’s (1809-1882) “survival of the fittest” evolutionary theory by concluding that cooperation and mutual aid are as important in the evolution of the species as competition and mutual strife, if not more so.
Elliott was also greatly influenced by Kropotkin’s greatest work “The Conquest of Bread” that lays bare the defects of the economic systems known as Feudalism and Capitalism by showing how they thrive on and maintain poverty and scarcity, in spite of being in a time of abundance thanks to technology, while promoting privilege.
Simply put, where
Kropotkin, though being praised by many in his lifetime, including the great Irish poet and author Oscar Wilde (1854-1900) who called him “a man with a soul of that beautiful white Christ which seems coming out of Russia”, the “Anarchist Prince”, as Kropotkin became to be known, saw his theories lose out those of Darwin’s who were backed by the powerful and moneyed interests of the Western Empires.
What spurred Elliot’s great interest in Kropotkin’s theories is that the great Russian had not only predicted the Panic of 1873, but also the Great Depression. Kropotkin, however, did not live to see the Great Depression but Elliot did, and by expanding on Kropotkin’s theories discovered that while stock market prices may appear random and unpredictable, they actually follow predictable, natural laws and can be measured and forecast using Fibonacci numbers.
So completely did Elliot examine and expand upon Kropotkin that in 1946, two years before his death, he published one of the most important books of the 20th Century titled “Nature's Law - The Secret of the Universe” that, in part, shows:
“Rhythm In Nature, Egyptian Pyramids size - ratios and scaling are based on Natural Laws involving Fibonacci numbers, Sunflower research on how Sunflowers and their seeds conform to exact Fibonacci ratios, How the Washington Monument & US History is ruled by Natural Laws & Fibonacci numbers, Wave knowledge can be applied to stocks-bonds-grains- cotton -coffee & others, Stock market cycles and waves, Corrections, Complex corrections, Triangles, Thrust breakouts, Wave extensions, Correct wave counting, Sideways movements, Irregular tops, Scaling of charts, 13-year triangles, Dow Jones Industrial Avg Analysis and charts, How retracements and patterns maintain 62% ratios, Price of gold, Waves in gold prices, Gold chart and waves for 685 years from the year 1250 thru 1932.
Human activities and patterns also run in waves, more Dow Jones and London Industrials chart analysis, Dow Jones Railroad Index chart and analysis from 1906 thru 1944, Why news events are merely the tardy recognition of natural laws and waves, Natural laws discount the value of sudden major events, Detailed suggestions on maintaining charts, Daily range charts, Hourly charts, Chart paper and chart size, Weekly range charts, Monthly charts, Investment timing, Wave analysis foretells markets future direction, The fact sudden news has little long term effect because it's already reflected in the waves and cycles.”
It goes without saying, in the Western World at least, and especially the United States, that Prechter’s dire warning is going virtually unreported on even as the Baltic Dry Index (BDI) and the American stock markets are mirroring those of the Great Depression year 1932 and pointing to an even greater economic apocalypse to come.
Even worse for the American people are new reports showing their National Debt by the end of the year will soar to its highest level since the end of World War II and represent a crushing 62% of their entire National economy.
Unlike those years after World War II, however, when America was the sole economic and industrial powerhouse of a World nearly completely shattered by that conflict, the United States today stands on the precipice of near total economic collapse as over 20% of its workers remain unemployed, nearly 8 million jobs are said to be lost forever, nearly 1 in 3 of their homes are in foreclosure, all of these factors leading the Nobel Prize winning American economist Paul Krugman to warn this past week the US was now entering its Third Great Depression and that “tens of millions of unemployed workers, will go jobless for years, many will never work again”.
And as bad as it is now it is going to get worse as the ECRI leading indicator produced by the Economic Cycle Research Institute plummeted yet again last week to -6.9, dropping faster that at any time in the post-World War II era, and pointing to a contraction in the US by the end of the year as bond traders begin warning that the US Federal Reserve is preparing for a “monster” printing of American dollars to keep their economy from totally collapsing.
The United Nations, growing increasingly concerned over the
Interesting to note in all of these events, and exactly like Elliot’s wave principal and Kropotkin’s theories have warned, “the rich grew richer last year, even as the World endured the worst recession in decades”, according to the latest Merrill Lynch-Capgemini World Wealth Report.
Kropotkin once stated that “there are
no shortcuts to moral insight” and that “the
answers to such questions must be found within us, not in nature”. Perhaps
some of the wisest words we can ponder on as not only this great economic
crisis faces us all, but also the catastrophic oil spill in the
© July 7, 2010 EU and US all rights reserved
[Ed. Note: Western governments and their intelligence services actively campaign against the information found in these reports so as not to alarm their citizens about the many catastrophic Earth changes and events to come, a stance that the Sisters of Sorcha Faal strongly disagrees with in believing that it is every human beings right to know the truth. Due to our missions conflicts with that of those governments, the responses of their ‘agents’ against us has been a longstanding misinformation/misdirection campaign designed to discredit and which is addressed in the report “Who Is Sorcha Faal?”.]