[1] However, these assignments have been reevaluated and clarified using larger historical financial data sets in the works of A. J.
[3] Some Elliott wave analysts believe that a Grand Supercycle bear market in US and European stocks started in 1987.
[5][6] During 2006–2007 the Dow Jones Industrial Average reached a new all-time high, which has been interpreted by some Elliott Wave analysts as indicating that 2000–2002 was not the beginning of a Grand Supercycle bear market.
[7][8] A controversial issue is whether the severe economic recession accompanying the termination of the current Grand Supercycle will take the form of either a deflationary depression or a hyperinflationary period.
Robert Prechter has repeatedly stated that the collapse will take the form of a deflationary depression probably followed by hyperinflation.
So in my view the Fed is utterly powerless to prevent the ultimate deflation of the credit bubble.