April 23, 2009 By Mark Galasiewski The following is excerpted from Elliott Wave International’s Global Market Perspective. The full 120-page publication, which features forecasts for every major world market, is available free until April 30. Visit Elliott Wave International to download it free . Conventional wisdom says that central banks can influence or even direct financial markets and the macroeconomy. The very existence of Elliott waves challenges such assumptions. For if markets responded to every central bank directive, how could Elliott waves exist? Parallel trend channels, Fibonacci price relationships, the similarity of form between waves of different sizes and time periods—none of that would be possible. Central bank decisions would have to coincide perfectly with turning points in Elliott waves, and we know that just doesn’t happen. But even without using waves, we can expose the conventional wisdom for the fallacy that it is. Take, for example, this assertion in ...
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I read Friedman's "The World is Flat" only recently amidst the ambiance of despondency set in by the recession. Friedman seems to be sanguine giving an impression that everything would fall in place because the world has flattened and whatever has not been so, they will in due course. Time vindicated otherwise.
Otherwise the book is a page-turner. A general purpose book has been presented with the readability of a fiction. It is highly informative, cogently argued and it leaves impact on the readers.
I've reviewed the book on my blog. You may have a look.
Thanks
Nanda
http://ramblingnanda.blogspot.com