Elliott Wave predicting major down move and Steve Keen on Europe
On Tuesday, the US military said strikes by air force fighter planes, armed drones, and allied aircraft hit 22 targets in parts of Syria controlled by the Islamic State, also known as ISIS or ISIL. Five Arab countries including the United Arab Emirates, Jordan, Bahrain, Qatar, and Saudi Arabia helped carry out these airstrikes in Syria. But the big question now is: Were these strikes successful? Erin weighs in.
Then, Erin is joined by Steve Keen, head of the School of Economics, History, and Politics at Kingston University in London to discuss the UK and European economies. The mortgage credit accelerator has the UK decoupling from Euroland, which could be sinking into a debt deflation. Dr. Keen thinks this divergence cannot last.
After the break, Erin talks to Steve Hochberg, chief market analyst at Elliott Wave International, to discuss Elliott Wave Theory. Hochberg says Elliott Wave analysis is telling us we are on the precipice of a major down move in the markets. He sees this as another down move in a secular bear market that began at the beginning of this millennium.
And in The Big Deal, Erin is joined by Edward Harrison to talk about the Fed and the ECB. Edward sees the ECB making the latest salvo in the currency wars due to the lack of options to get credit growth re-animated. The debt super cycle which began in 1981 is coming to a close, limiting the power of monetary policy as a tool to reflate the economy.
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