{"id":29166,"date":"2012-04-19T17:24:56","date_gmt":"2012-04-19T21:24:56","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=29166"},"modified":"2012-04-19T17:24:56","modified_gmt":"2012-04-19T21:24:56","slug":"how-to-handle-an-economic-implosion","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/04\/19\/how-to-handle-an-economic-implosion\/","title":{"rendered":"How to Handle an Economic Implosion"},"content":{"rendered":"<h3><span style=\"font-size: small;\">By Elliott Wave International<\/span><\/h3>\n<p>I came across some research on the subject of worry. Here&#8217;s how it was presented:<\/p>\n<p>Things People Worry About:<\/p>\n<ul>\n<li>things that never happen &#8211; 40%<\/li>\n<li>things which did happen that worrying can&#8217;t undo &#8211; 30%<\/li>\n<li>needless health worries &#8211; 12%<\/li>\n<li>petty, miscellaneous worries &#8211; 10%<\/li>\n<li>real, legitimate worries &#8211; 8%<\/li>\n<\/ul>\n<p>Of the legitimate worries, half are problems beyond our personal ability to solve. That leaves 4% in the realm of worries people <strong>can<\/strong> do something about.<\/p>\n<p>I thought about our gigantic national debt and weak economy. These seem to fit into both subcategories of &#8220;real&#8221; worries. You <strong>can&#8217;t<\/strong> do much as an individual to solve the nation&#8217;s debt and economic problems, yet you <strong>can prepare<\/strong> for a worsening economic downtrend.<\/p>\n<p>Do we see evidence for an economic turn for the worse?<\/p>\n<p>Well, consider that the evidence is so overwhelming that it took 456 pages of the second edition of Robert Prechter&#8217;s book, <em>Conquer the Crash<\/em>, to cover it. And since that book published, Prechter has consistently devoted his monthly <em>Elliott Wave Theorist<\/em> to the facts and evidence behind his forecast.<\/p>\n<p>Here&#8217;s a chart from the book that was updated by Elliott Wave International in March 2012:<\/p>\n<blockquote><p><img decoding=\"async\" src=\"http:\/\/www.elliottwave.com\/images\/freeupdates\/Image\/1929Molehill.jpg\" alt=\"\" \/><\/p>\n<p>The downturn from 2008 is critically important, as it shows that after an almost unbroken 60-year climb, the contraction is underway. It surely has much further to go, because it is still a third higher than it was at the outset of the last debt deflation in 1929.<\/p>\n<p>&#8212; <em>The Elliott Wave Financial Forecast<\/em>, March 2012<\/p><\/blockquote>\n<p>The rating agencies are well aware of what the above chart means. You probably know that Standard &amp; Poor&#8217;s downgraded U.S. debt from the nation&#8217;s long-standing triple-A to AA+. Now, another rating agency has taken their rating even lower:<\/p>\n<blockquote><p>Rating firm Egan-Jones cuts its credit rating on the U.S. government to &#8220;AA&#8221; from &#8220;AA+&#8221; with a negative watch, citing a lack of progress in cutting the mounting federal debt.<\/p>\n<p>&#8212; <em>CNBC.com<\/em>, April 5<\/p><\/blockquote>\n<p>Robert Prechter&#8217;s bestseller, <em>Conquer the Crash<\/em>, provides practical information about what you can do to protect your finances in the coming economic implosion. And right now, Elliott Wave International is offering 8 lessons from <em>Conquer the Crash<\/em> in a free 42-page report that covers:<\/p>\n<ul>\n<li>What to do with your pension plan<\/li>\n<li>How to identify a safe haven<\/li>\n<li>What you should do if you run a business<\/li>\n<li>A Short List of Imperative &#8220;Dos&#8221; and Don&#8217;ts&#8221;<\/li>\n<li>And more<\/li>\n<\/ul>\n<p>In every disaster, only a very few people prepare themselves beforehand. Discover the ways you can be financially prepared and safe.<\/p>\n<p><span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.elliottwave.com\/r.asp?acn=9cp&amp;rcn=aa262&amp;dy=aa041112&amp;url=http:\/\/www.elliottwave.com\/club\/protect-yourself.aspx?code=27742%26articleid=3045\"><strong>Get Your FREE 8-Lesson &#8220;Conquer the Crash Collection&#8221; Now &gt;&gt;<\/strong><\/a><\/span><\/p>\n<div>\n<p><em>This article was syndicated by Elliott Wave International and was originally published under the headline <a href=\"http:\/\/www.elliottwave.com\/r.asp?acn=9cp&amp;rcn=aa262&amp;dy=aa041112&amp;url=http:\/\/www.elliottwave.com\/freeupdates\/archives\/2012\/04\/10\/How-to-Handle-an-Economic-Implosion.aspx%26articleid=3045\"><strong>How to Handle an Economic Implosion<\/strong><\/a>. EWI is the world&#8217;s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.<\/em><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Elliott Wave International I came across some research on the subject of worry. Here&#8217;s how it was presented: Things People Worry About: things that never happen &#8211; 40% things which did happen that worrying can&#8217;t undo &#8211; 30% needless health worries &#8211; 12% petty, miscellaneous worries &#8211; 10% real, legitimate worries &#8211; 8% Of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2012\/04\/19\/how-to-handle-an-economic-implosion\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;How to Handle an Economic Implosion&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-29166","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/29166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=29166"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/29166\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=29166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=29166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=29166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}