Figures comparable to 1930s, “central bankers have stood in the way of recovery” Steve Watson Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC Monday that he sees the stock market bottoming out in October as the world has entered significant financial depression. "Equities are for losers and bond markets for winners. Equities are simply for people who like losing money," Griffiths said. "A double-dip is inevitable and imminent, as Keynesian stimulus measures have never worked anywhere. We are in the equivalent of a Great Depression following 3 years of credit crisis," he added. Griffiths also says he has charted a 20-year secular downturn in the West, which we are currently halfway through. Griffiths’ comments echo those of other notable economists and experts who have concluded that zero growth, mass unemployment, and devastating monetary tightening spells depression on a 1932 level. With real measures of unemployment having been at around 20% and rising for some time, other analysts have pointed out that the numbers are in the same ballpark as the Great Depression. The number of Americans relying on food stamps is at a record level of over 40.8 million, that is one out of every eight, with the figure projected to rise to 43.3 million next year. At the height of the Great Depression, the rate was just one out of thirty-five Americans. Furthermore, the M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the all the stimulus activity. July’s dismal jobs report and forecasts of even weaker job growth ahead, along with signs of food inflation, also signals an era of stagflation is upon us, a phenomenon not seen during even the Great Depression. Other economists are beginning to pin the blame for the continuing spiral into depression at the feet of the central bankers: "The major problem is that quantitative easing has been counter-productive." Brendan Brown, head of research at Mitsubishi UFJ Securities tells CNBC. "The central banks have stopped prices from falling. When prices fall, people buy but by shoring up asset prices the central bankers have stood in the way of recovery," he added. "The big risk is that the Fed reacts to its own depression. The Fed could over-react and would be better off going on holiday rather than announcing yet more QE," Brown said on the eve of a Fed meeting to discuss more QE. The mid-summer rally is over and stocks will begin a downward leg before bottoming in October, as the world economy is in what looks like a Great Depression, Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC Monday. "Equities are for losers and bond markets for winners. Equities are simply for people who like losing money," Griffiths said. "A double-dip is inevitable and imminent, as Keynesian stimulus measures have never worked anywhere. We are in the equivalent of a Great Depression following 3 years of credit crisis," he added. But there will be some winners or relative outperformers in the stock markets, according to Griffiths. "Firms like Caterpillar [CAT 72.07 "I also like the German market. Exports are doing well and will be further boosted by the performance of the euro over the last 12 months," Griffiths said. German exports rose by a higher than expected 3.8 percent in June following strong demand from across the world for German goods, according to data released Monday. http://www.bloggingstocks.com/2010/08/04/technical-analyst-foresees-10-years-in-decline/ Posted Aug 4th 2010 1:00PM by Connie Madon Griffiths has a unique way of putting it. He says that: "We should own in the East and rent in the West. In the East, you can own equities in countries like India and Brazil and without watching them too closely, will be sitting on returns of over 100% over the long term." In the West, Griffiths says that you should only hold stocks when they are rallying. Contrast these views with those of Laszlo Birinyi. His studies indicate that analysts who use patterns in price and volume to forecast gains and losses fail to make investors money. He went on to say: "Most indicators are descriptive, not indicative. They tell what is going on, but seldom predict future moves." Birinyi follows the money flow in and out of stocks. Presently, he is bullish on the market. Which analyst do you agree with? The West is only half the way through a 20-year secular downturn that will not end until the children of the US baby boomers begin to flex their financial muscle in about 10 years time, according to Robin Griffiths, a technical strategist at Cazenove Capital. Investors should therefore own in the East and rent in the West, Griffiths said. "The market in the West is in a 20-year downturn and you only hold stocks in the developed world when stocks are rallying during this 20-year down trend," he told CNBC. "In the East you can own equities in countries like India and Brazil and without watching them too closely, will be sitting on returns of over a 100 percent over the long-term," Griffiths added. But there are stocks from the developed world investors can own to play the growth story in the East, according to Griffiths. "I like Standard Chartered [STAN-LN 1835.00 not because it is a bank, but because it is doing business in the correct geography, the East," he said. The summer rally is about to come to an end as real live orders - orders made by human fund managers rather than computers - see money pouring out of stocks and into bonds, Griffiths predicted.Hey werent we all saying this a long time ago
Economists Herald New Great Depression :
Figures comparable to 1930s,
“central bankers have stood in the way of recovery”
Date:Tue, 10 Aug 2010
http://www.infowars.com/economists-herald-new-great-depression/Economists Herald New Great Depression
Infowars.net
Monday, Aug 9th, 2010
The world is currently experiencing the modern day equivalent of the Great Depression, according to a prominent economist who has added his voice to scores of others now forecasting ongoing economic doom on a scale not seen since the 1930s.http://www.cnbc.com/id/38620283
We Are in Equivalent of Great Depression: Strategist
0.51 (+0.71%) 
] will do well, America has some great companies and CAT is one of them, able to export anywhere in the world as it has good products people want to buy," he said.Technical Analyst Foresees Another 10 Years in Decline
Filed under: Analyst Reports, Forecasts, India, Brazil, Market Matters, Technical Analysis
Technical analyst Robin Griffiths of Cazenove Capital has come up with a dire prediction for the West. Using his charting method, he foresees a 20-year secular downturn in the West. We are halfway through this period.West Is Halfway Through 20-Year Decline: Chartist
CNBC Senior News Editor
-11.00 (-0.6%)] ,
Tuesday, 10 August 2010
Published: Monday, 9 Aug 2010
Published: Monday, 2 Aug 2010 | 8:56 AM ET
By: Patrick Allen
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