When Money Gets Scarce

When Money Gets Scarce
Robert Prechter assess the prospects for deflation in this editorial for Barron's Other Voices.

To anticipate great waves of change, investors need indicators that are ahead of events. From 2000 to 2008, leading indicators such as debt expansion, debt quality, extremes in leverage and record investor optimism warned of an approaching sea change. In applying leading indicators, my book Conquer the Crash—You Can Survive and Prosper in a Deflationary Depression was early in expecting the turn. But its scenario—which was until then widely considered impossible—is playing out.

In the past two years, even lagging indicators have showed signs of deflation. But Americans lived in a climate of monetary inflation for three-quarters of a century.

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