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Is the Dow Jones Going to 2,000? An Interview with Robert Prechter

by on September 25, 2010 · 5 comments

FTMWeekly Financial Radio Show: An Interview with Robert Prechter - Is the Dow Going to 2,000? - Deflation or Hyperinflation? - Financial News RadioFTMWeekly Financial Radio Show: An Interview with Robert Prechter - Is the Dow Going to 2,000? - Deflation or Hyperinflation? - Financial News Radio

Is the Dow Jones Going to 2,000? An Interview with Robert Prechter

On this week’s program, FTMWeekly Financial Radio host Jerry Robinson gives a financial news and market recap and talks about the performance of his stock recommendation from last week.

In our special guest interview, Jerry sits down with Robert Prechter, author,  popular financial commentator, and president of Elliott Wave International. Robert explains why he believes that deflation – not inflation – lies ahead for America. Robert’s book, Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression, outlines his views on deflation.

Also, precious metals advisor, Tom Cloud, provides his weekly insights and commentary on the gold and silver markets in this week’s “Precious Metals Market Update.”

And in our popular weekly segment, “Financial Strategies with John Bearss“, Jerry and John discuss retirement planning.

Finally, Jerry closes with his Stock Pick of the Week.

Special Guest Interview: Robert Prechter discusses his economic and investment outlook and his book, Conquer the Crash. (

(Author, Financial Commentator, Elliott Wave International)

Robert Prechter is the president of Elliott Wave International, which publishes analysis of global stock, bond, currency, metals and energy markets. Robert has been publishing The Elliott Wave Theorist, a monthly forecasting publication, since 1979. He is also has 13 books to his credit including the New York Times best-seller, Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression. You can learn more about Robert Prechter on the web at

Precious Metals Market Update

Tom Cloud, Precious Metals Expert
(Turamali, Inc., President)

Thomas Cloud is the Chairman of the Board of Turamali, Inc. and has a long and successful advisory track record in both financial planning and tangible assets. His expertise as an financial counselor and thorough knowledge of the products he recommends has attracted an impressive list of individuals and major institutions from across the United States. Since 1977, Mr. Cloud has devoted his attention to all areas of tangible asset investing offering a “hands on” approach to each and every Turamali, Inc. client.

Special Segment: Financial Strategies with John Bearss

John Bearss, Tax and Retirement Specialist
(Christian Financial Advisor Network)

John R. Bearss is a Retirement Specialist with the Christian Financial Advisor Network. He has been helping clients and financial professionals understand financial strategies for 24 years..


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{ 5 comments… read them below or add one }

Larry September 25, 2010 at 6:24 pm

How much money do we PM believers need to make before Robert is wrong. The PMs are rising due to eroding confidence in the USD and all other currencies as each country tries to devalue their currency to assist their economy relatice to the others. Yes, gold will retrace in 1Q or 2Q 2011, but between now and then, and then again after the a major retracement the PMs will rise into a bubble. SO I ask the community, what has to happen before we can confidently stop listening to this guy and claim him wrong. I finally just “claimed him WRONG at minute 26″ and stopped listening… I suggest you all do the same. Listen to someone like Peter Grandich, Peter Schiff and even David Weidemier. Listen to Prechter when you want to hear a different opinion, but he is and has been wrong to date. Peace…. Larry


Jerry Robinson September 26, 2010 at 6:58 pm


I appreciate your insights and comments. While I disagree with Mr. Prechter’s views, I thought his insights would help clarify the deflationist’s viewpoint for those of us who don’t often hear their reasoning.

Jerry Robinson


Bruce C. September 25, 2010 at 7:01 pm

First of all, why has Prechter changed his prediction for the DOW low? As of his April 2010 EWT newsletter he predicted DOW to go below 1000.

Anyway, my biggest question of his theory concerns his bizarre, if not invisible, assumption that the US dollar will survive. He never addresses the fact that fiat currencies never last. The dollar has been, and continues to be, brutalized. The FED purposely wants to deflate its value. That is the only deflation that I see, which translates into inflated prices on just about everything (except labor, due to globalization). How can he think that the dollar will be hunky dory after the FED does everything in its power to deflate it? I disagree with his analysis in Conquer the Crash. The FED can do virtually whatever it wants to, and that includes buying any and every “asset” in site to maintain or reflate its dollar value. Gold, for example, may be up in dollar terms, but has dropped in every other currency. He seems to be, as most others are as well, dollar-centric, unable to see beyond the dollar. He’s like other “gold bugs” who can’t wait to sell their gold when its reaches, say, $3000 per ounce, or whatever. Why would one want dollars then?

Prechter is a salesman. He has been wrong in his predictions at least as often as he’s been right, and his timing has almost always been wrong or premature. To use the US Great Depression of the 30′s as a proxy for what’s going on now begs so many questions, at best. Both in the US and globally debt is unprecedented and the central banks are not going to go down without a fight. To say that they cannot create enough currency/”money” to offset the vast debt levels is like challenging one to type out a number that’s larger than, say, 1000,000,000,000,000 (that’s 1000 trillion). Of course one can, and that is why and how dollars along with every other currency will be devalued to oblivion.

Personally, I have both cash and precious metals, and if I had to choose one or the other going forward, my gut says go with the gold (and silver). Considering all the debt and unfunded liabilities and globalization and forseeable wars in the offing, the prospect of the dollar – an undefined, unconstitutional fiat fabrication (i.e., Federal Reserve Note) – surviving, let alone prospering – is anathema. Prechter is an academic who may be so smart that he’s stupid.


Jerry Robinson September 26, 2010 at 7:02 pm

Thanks for the comments Bruce. My view is that we are heading towards massive inflation and that gold, silver, palladium, some agricultural commodities, and some select stocks will be the only real hedging strategy that will work. But Mr. Prechter is entitled to his views even if they don’t agree with our own.


Scott Scholz October 30, 2010 at 8:27 am

Thanks for airing this perspective, Jerry. I appreciate your willingness to bring us information from ‘the other side of the street.’ It used to be important to be well rounded, collecting information from all perspectives, so we could then make the best decision for ourselves. It seems our culture, these days, doesn’t welcome this anymore, but instead wants to be fed only what reinforces their beliefs or paradigms or what they want to hear; and that there is such a driving desire to be ‘right’ that we jump at the chance to call others wrong or stupid because they have a different point of view. We should welcome the contrary case, especially if it reinforces the correctness of our core beliefs.
The increasingly militant intolerance and divisiveness in our society today smacks too much of self righteous justification and/or vindication.
Doesn’t seem like a Christian attitude toward life, does it?


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