In the most recent Wall Street Journal survey (conducted Sept. 4-8) of top economists, 78% say "the recession is over" and that the economy is already growing.
Yes, this "consensus" will be obvious to anyone who has followed the news recently. After all, the financial media has fed us a steady diet of "worst is over" stories for months. Even so, there are times when it's important to state the obvious. Think ahead 6-12 months. In the near future, the recession that supposedly is "over" may in fact be far worse. In turn, the people who today say it's "over" will claim, "No one could have seen it coming!"
That will feel like deja vu all over again -- in more ways than one.
What I mean is this: For the past two years, "No one saw it coming" has been the chorus of an entire class of individuals -- policymakers, politicians, economists, fund managers, etc. They could have warned investors and the public about the economic upheaval that did come. But, if anything, they said the opposite. As late as July 2007, a top financial magazine declared "The Greatest Economic Boom Ever."
That is one way you can expect deja vu in the near future, and here's another: Someone did see the upheaval which began in 2007 coming. His explicit warnings filled an entire book in 2002. It was a New York Times bestseller, and over 100,000 people read it in time to protect their wealth.
I'm talking of course about Bob Prechter and Conquer the Crash. No analyst -- repeat, no analyst -- forecast the debacle as early and in as much detail as he did. So I'll cut to the chase: Prechter has written a second edition of Conquer the Crash, and you can pre-order it below, right now. Amazon and other online booksellers will ship pre-ordered copies in a few short weeks.
Since you're reading this page, you probably know Bob Prechter by reputation. For what it's worth, he's been my colleague, friend and employer since 1992. I assure you that if Bob thought a whole new book would help, he'd have written one. But Conquer the Crash is a book-length forecast that's still coming true-- only some of the future has caught up with the forecasts he published back then. There is more to come. That means more danger, but also great opportunity.
And if you already own or have read the previous edition, please know this: Conquer the Crash, 2nd edition includes 188 new pages (480 pages total).
Many of those new pages draw from Bob’s most important Theorist writings and allow him to spell out his unique arguments for deflation (and a lot more). He proves that every market offers a story, if you know where to look and how to tell it -- that is Bob's exceptional gift. No financial story could be more compelling than the stock market's manic climb to the 2007 peak, and Conquer the Crash, 2nd edition includes an entire chapter to tell it. If you think you remember this period, wait till you read his description.
In every disaster, only a very few people prepare themselves beforehand. Think about investor enthusiasm in 2005-2007, and you'll realize it's true. Even fewer people will be ready for the soon-approaching, next leg down of the unfolding depression.
Bob warns that the doors to financial safety are closing all over the world. He believes prudent people need to act while they can.
Conquer the Crash, 2nd Edition readers will receive exclusive access to the Conquer the Crash Readers Webpage, where Prechter continually updates the book's recommended services and institutions.
As I mentioned above, you can pre-order the book right now. Please also know that if you
do pre-order
Conquer the Crash, 2nd Edition, you can receive free online access to the first 13 chapters (150 pages) so you can start reading immediately. You can also get $30 off a new subscription to our
Financial Forecast Service, which includes Bob Prechter's monthly
Elliott Wave Theorist.
Click here and follow the simple steps.