Little did Greenspan know when he made his famous “Irrational Exuberance” speech at “The Annual Dinner and Francis Boyer Lecture of The American Enterprise Institute for Public Policy Research, Washington, D.C. on December 5, 1996”, that the principles of Socioeconomics (as expounded by Robert Prechter) will eventually wipe this froth, and meet the statement in Price and Time!
Following is a post that was made on EWTAA (Yahoo Groups) by the Author on March 15th, 2009, and is reproduced verbatim. Article begins below (originally published on Sunday, March 15th, 2009 5:15:14PM).
“I had a belief based on Socioeconomic principles that for the irrational exuberance to be wiped out, the markets will meet the statement in time & price! Don’t miss the close of 5-Dec-96 on DJIA at 6437.10 and lows of 6-Mar-09 at 6443.27!
October 14th 2008 on www.timeandcycles.com (T&C Message id 36044)
“- I think we got so close to the October 2002 lows last week that I believe they are about to be taken out. Poster1, Poster2 etc. have good EWT targets. Personally, I feel 6600 is various the irrational exuberance statement was issued by Greenspan in 1995/1996 (sic) – I believe we are about to visit that.”
– Chanakya
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