Global Economic Collapse Of “Staggering Proportions” Warned Imminent

By: Sorcha Faal, and as reported to her Western Subscribers

Grim economic warnings are being sounded from the United States today after one of their top market forecasters and social theorists named Robert Prechter [photo top left] advised everyone to abandon the stock markets over what he says will be one of the largest financial crashes (of “staggering proportions”) to occur in over 300 years rivaling the Great Depression, the Panic of 1873, and the collapse of the South Sea Bubble in 1720, a crash so catastrophic it deterred people “from buying stocks for 100 years.”

Important to note about Prechter’s dire warning is its being based upon what is called the Elliott Wave Principle developed by Ralph Nelson Elliott (1871-1948) that is a form of technical analysis that investors use to forecast trends in the financial markets by identifying extremes in investor psychology, highs and lows in prices, and other collective activities.

Elliott, in turn, had based his new principle on the findings of the great Russian evolutionary theorist Peter Kropotkin (1842-1921) who in his book titled “Mutual Aid: A Factor of Evolution” countered Charles Darwin’s (1809-1882) “survival of the fittest” evolutionary theory by concluding that cooperation and mutual aid are as important in the evolution of the species as competition and mutual strife, if not more so.

Elliott was also greatly influenced by Kropotkin’s greatest work “The Conquest of Bread” that lays bare the defects of the economic systems known as Feudalism and Capitalism by showing how they thrive on and maintain poverty and scarcity, in spite of being in a time of abundance thanks to technology, while promoting privilege.

Simply put, where Darwin’s theories advocated a World where men are pitted against their fellow men for survival, Kropotkin stated that only through mutual cooperation with each other could our human race survive and prosper with no man every having to live in poverty or despair.

Kropotkin, though being praised by many in his lifetime, including the great Irish poet and author Oscar Wilde (1854-1900) who called him “a man with a soul of that beautiful white Christ which seems coming out of Russia”, the “Anarchist Prince”, as Kropotkin became to be known, saw his theories lose out those of Darwin’s who were backed by the powerful and moneyed interests of the Western Empires.

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