re: let the blowoff begin Bob Prechter from an interview...

re: let the blowoff begin Bob Prechter from an interview published last week:

"I think it’s vitally important that gold, silver and the DJIA peaked within
the same 24-hour period in May. The Dow topped on May 10, the metals on May 11. I have been
making the case that liquidity has been driving all the hot markets together, and that
includes real estate, copper, oil, foreign currencies and junk bonds. I further contend that
when deflation hits, these markets are likely to go down together. So there will be no
“hedge” investment, no markets in which to get rich while other suffer as there were in the
1970s. The only refuge will be safe cash equivalents, and they are few and far between. If
you want to get safe from the crash, I spelled out how to do so in Conquer the Crash. Look
around. Real estate is slumping fast. Gold and silver are down from their highs. The S&P
is still 15 percent below its 2000 high, and its rally from 2002 looks tired. The hype on
oil is relentless and deafening, but its net gain for the past year is zero. Despite massive
credit inflation, grain prices have been falling. I think these are warning signs of the
crash I’ve been talking about. Gold bugs say that the Fed can inflate the economy out of any
difficulty. I guess we’ll soon find out."