Central Banks Buying Equities

The survey of 60 central bankers, overseeing a combined $6.7 trillion, found that low bond returns had prompted almost half to take on more risk. Fourteen said they had already invested in equities or would do so within five years. Those conducting the annual poll had never before asked that question.

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Central Banks Fighting Deflation Worldwide

Central banks in Europe, Japan and  the U.S. are fighting deflationary forces by easing monetary policy and financing government debt.  This may change their roles and expectations in the future as they move closer to the areas of fiscal policy which governments are incapable of setting for themselves.

“It is important to recognize that the role of an independent central bank is different in inflationary and deflationary environments,” Bernanke said. In times of deflation, “a more cooperative stance on the part of the central bank may be called for.”

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Elliott Wave Tracking Page 2013

This is the Robert Prechter Elliott Wave Tracking page for 2013. This page tracks articles on Robert Prechter and his prognostications found in the major news websites. For all news articles on Robert Prechter from the 1980s to 2012, go to this page.


January 11, 2013
Bears not buying recent market rally

Although most economists, portfolio strategists and analysts remain optimistic about prospects for stock market returns this year — as I’ve highlighted in several recent columns — some see plenty of pain ahead.

The doomsayers include perma-bears such as Robert Prechter Jr., whose Elliott Wave Financial Forecast has a large following. The latest edition of Prechter’s publication is as gloomy as ever.

“The stock market started 2013 with an opening-day bang, but the blast higher should end soon,” he warns. “Stocks’ ‘sigh of relief’ rally supposedly results from a fiscal-cliff deal, which will turn out to be a stop-gap that gives way to genuine fiscal calamity.”

Prechter believes a bear market will soon take hold, driving stocks “much lower” for the rest of the year. Gold and silver will also drop, he predicts, while the U.S. dollar rallies.

Economist and author Gary Shilling, a longtime columnist for Forbes magazine, is also in the bearish camp. He sees another global recession and stock market crash coming — one that will drive the S&P 500 down to the 800 level, or about 45 per cent below Friday’s close.

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BS on Wallstreet: Why You Get to Keep What the Bulls Leave Behind

According to Paul B. Farrell it’s 13 times more likely that you will hear a lie from Wall Street rather than a truth. He picks the “17 stupidest statements made by Wall Street’s leading minds to illustrate their tendency 93% of the time to mislead and manipulate investors using hype, happy talk and pure biased B.S.” Starting with :

March 1999: Harry S. Dent, author of “The Roaring 2000s.” “There has been a paradigm shift.” The New Economy arrived, this time really is different.

October 1999: James Glassman, author, “Dow 36,000.” “What is dangerous is for Americans not to be in the market. We’re going to reach a point where stocks are correctly priced … it’s not a bubble … The stock market is undervalued.”

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Fed Weighs Cutting Interest on Banks’ Reserves After ECB Move

“They are at the end of their rope and are probably searching for every last option for what they can do,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York  and a former economist for the Fed Board in Washington. “You can’t rule anything out because they’re going to flail around and try every last thing they can.”

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Selling State Treasures to Run the State

With their treasuries empty and their finances in the worst condition that any politician alive can remember, European states are selling their state treasures to enable them to run the state. Yet no one really understands the how long and how deep this economic decline is going to be that is hitting them. This is not the middle. This not the end. This is just beginning. The indoctrination of Malthusian concepts over the decades will prevent most of the establishment from seeing this from a demographic perspective and thwart the needed measures to counter the economic and social decline. What else will the European states sell when they reach a point where the priceless treasures, and almost everything else, are deemed worthless?

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Canadian Prime Minister Stephen Harper Doesn’t Want to Sound Alarmist But…

“I do think in a sense, here, I don’t want to sound too alarmist, but we are kind of running out of runway here,” Harper said Monday. “And in terms of structure of the eurozone and in terms of addressing some of these problems, we do need to see the broader game plan.”


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