Related Topics

Are You Prepared for Widespread Bank Failures?

“This time, the world economy appears to be on much shakier footing”

by Bob Stokes
Updated: October 11, 2022

The ideal time to prepare for most anything in life, especially a potential circumstance that's adverse, is before it happens.

The problem is: Many people don't know what will happen in their lives ahead of time.

However, sometimes warnings are provided yet they're ignored or not taken seriously. A current warning from Elliott Wave International which people are urged to take very seriously is that the economic slowdown could morph into something far worse than a garden-variety recession.

Here's what Robert Prechter's Last Chance to Conquer the Crash has to say:

In 2008-2009, some U.S. banks came under pressure of insolvency, just as the first edition of Conquer the Crash predicted. Fed bailouts kept most of them open. In the next depression, bank runs and mass closings are far more probable.

Indeed, a troubling sign for the banking industry has already started to develop.

Here's an Oct. 3 headline (Business Insider):

Credit Suisse is fending off concerns about its financial health, fanning fears of another Lehman Brothers moment that could roil the global financial system...

The next day (Oct. 4), Barron's had the straightforward headline:

Credit Suisse Is In Deep Trouble.

In a nutshell, the Swiss banking giant plans a massive restructuring and executives recently had to reassure major clients and investors about the bank's liquidity.

Concerns about the financial health of Credit Suisse doesn't mean that a systemic banking crisis will start tomorrow or next week. However, it may be a good idea to check out the financial health of the bank or banks with which you do business, especially considering the broad backdrop -- as represented by these headlines:

  • Global Manufacturing Index Contracts for First Time Since 2020 (Bloomberg, Oct. 3)
  • IMF presents 'darkening outlook' for global economy (UPI News, Oct. 6)

Days before that global economy headline published, our October Elliott Wave Financial Forecast showed this chart and said:


This chart of Global Real Economic Activity... shows that the world economy is heading into an extraordinary period of economic contraction. The trendline points out a long-term divergence from the last peak, in May 2008, which followed the Dow Industrials' October 2007 top by eight months. The latest peak in the index came in October 2021... This time, the world economy appears to be on much shakier footing.

Now is the time to prepare for what may be just around the corner.

Indeed, Elliott Wave International has put together a special report titled "Preparing for Difficult Times," which discusses safe banking, storing precious metals and even insights on how to stay physically safe.

Learn how you can access this special report for free via a special offer by following the link below.

The Fed Cannot Stop the Bear Market

Here's a quote from our recently published October Elliott Wave Financial Forecast:

Eventually, the bear market will engender a widely held view that the Fed is clueless and harmful. This sentiment appears to be emerging.

Learn why the worst -- both financially and economically -- may be ahead by reading our flagship Financial Forecast Service -- which includes the thrice weekly U.S. Short Term Update and two monthlies: The Elliott Wave Theorist and The Elliott Wave Financial Forecast.

You get coverage of major U.S. financial markets, including near-, intermediate- and long-term analysis of U.S. stocks.

Plus, via a special offer, you get free access to our special report, "Preparing for Difficult Times."

Just follow the link below.

Financial Forecast Service


All month long, Financial Forecast Service helps you stay ahead of the waves in the U.S. markets on the timeframes that matter the most. FFS covers the stock indexes, bonds, gold, silver, the U.S. dollar, as well as market psychology and cultural trends. It is our most popular service.

Comprises the monthly Elliott Wave Financial Forecast, 3x-per-week Short Term Update and at least 12x-per-year Elliott Wave Theorist.

Limited Time: Get instant access to Robert Prechter’s report, Preparing for Difficult Times -- a $50 value. Learn how to bank safely, store your precious metals, stay safe physically and much more. A must-read report.


"A Classic Bearish Reversal Sequence"

In this clip from our Commodity Pro Service, editor Jim Martens highlights a "classic" Elliott-wave setup that can lead to a high-confidence trend change. In Jim's words, "A classic bearish reversal sequence I always mention. I want to see this before I'm confident that the trend has changed." The good news, you can apply this lesson to any market!

PTPC: In Harmony with Social Mood -- The Genius, King, Godfather and Poet Laureate

Ray Charles. Elvis. James Brown. Chuck Berry. These four pop music icons need no introduction. Music historians have told their individual stories many times. But when we zoom out and look at their careers collectively, we see the indelible influence of social mood on their bouts of triumph and tumult.

Trends, Turns and Dollar Index Opportunities Since 2021

Sentiment indicators can help you anticipate huge turns in financial market trends. See exactly what Short Term Update subscribers saw at the start and the end of a two-year move in the Dollar Index.