[UTHZzJ6f]

He says we could be headed for Great Depression II. I agree. And we've got the modern-day FDR---Comrade Obama---in charge. He's doing exactly what FDR did then and we're going to get the same results---economic collapse. World War II ended the Great Depression, not FDR. FDR made it worse and dragged it out 7 years longer than it should have lasted. The economy would have recovered almost immediately had it been left alone.

http://www.cnbc.com/id/38253735

Dow May Crash to 7,500 If 10,600 Not Breached

Published: Thursday, 15 Jul 2010 | 1:29 AM ET

By: Daryl Guppy
CNBC Contributor

Seeing there's been quite a bit of interest in my recent comments on CNBC about the historical parallels between the Great Depression and the recent financial crisis, I thought it may be appropriate to elaborate further on the chart technicals behind the observation.

The causes may have been different, but the collapse of the U.S. markets in early 2008 followed the same behavioral patterns as the collapse in 1929. The recovery pattern seen in 2010, is also very similar to that developed in 1930.

The crash of the Dow Jones Industrials in 1929 was signaled by the development of a well defined head and shoulder pattern, seen most clearly in its monthly chart. It is a reliable pattern that captures the behavior of investors who are becoming increasingly disillusioned about the future prospects for economic growth.

The downside pattern targets in the 1929 Dow were exceeded with a fall of around 49% before the market recovered in 1930. The 2008 dow pattern targets were also exceeded with a market fall of around 52%.

In 1930, the market developed an inverted head and shoulder rebound pattern recovery that led to a 46% rise in the market. The Dow rebound in 2009 also developed from an inverted head and shoulder pattern. This was a powerful rise of around 69%.

[Frdsdx26]

Oh no, not another Elliot Wave nutjob. Please.

[Alliopeti]

Anywhere you see a tin foil hat, you'll find Brad.