Bullish a Year Ago, Robert Prechter Now Sees "the Biggest Bubble in History"

Bear Market Armageddon: Why Prechter Might Be Right This Time

In late February last year, Robert Prechter of Elliott Wave International said "cover your shorts" and predicted a sharp rally that would take the S&P into the 1000 to 1100 range. That prediction came to pass. Prechter then urged investors to "step aside" from long positions, and speculators should "start looking at the short side."

With Prechter firmly back in familiar bearish territory, he joined Aaron and Henry again, armed with scary charts that forecast an imminent "grand, super cycle top" and collapse, mirroring the decline after the 1929 crash. A firm believer in deflation on the horizon, Prechter sees commodity prices falling this year into next.

Prechter admits he hasn't always been right. "The disinflationary period lasted longer than I thought," he confesses. But, this time it's different, he promises.

Keynesian economics: dying where it was born

The UK has produced notable economists over the years, but John Maynard Keynes, the guru of government intervention, was one of truly global significance. So it may be fitting that the UK will also become the deathbed of Keynesian economics.

More clarity needed for SGX policy on firms at risk of delisting

Why is it that shareholders’ hopes of recovering their investments in China Printing & Dyeing and FerroChina should be dashed when a restructuring deal looks so close to being sealed?

Operations of key Sino-Environment unit have ceased

Sino-Environment said that all business operations at its main subsidiary in Fuzhou have ceased, leaving its plant and equipment sitting idle.

Sino-Environment issues update following criticism

Embattled Sino-Environment Technology Group has issued a long-awaited update to anxious shareholders, just hours after it received a tongue-lashing from the head of a retail investors’ body.

Sovereign debt crisis on the cards

Ballooning public debt is likely to force several countries to default and the United States to slash spending, according to Harvard University Professor Kenneth Rogoff, who in 2008 predicted the failure of big US banks.

Toyota chiefs blame fast rise, admit recall limits

Toyota’s top US executive has admitted that global vehicle recalls had “not totally” fixed dangerous safety flaws, as angry US lawmakers looked to grill the Japanese auto giant’s contrite president, Akio Toyoda.

US and Europe dig themselves in fiscal hole

The fiscal time bomb is ticking ever louder, from Greece to Japan and from Britain to the United States, not to mention Portugal, Spain and Ireland. But the ominous sound is being muffled by the clamour for economic growth to be maintained at all costs, even at the expense of bankrupting governments.

Oxfam calls halt after ‘warning’

Hong Kong charity suspends training of mainland students until ‘ministry notice’ clarified

Prices steady as home buying starts to wane

Surging home prices on the mainland have shown signs of slowing down as buyers hesitate about entering the market in the wake of government measures to cool property speculation.

Pressures point to fresh yuan appreciation in coming months

In recent days market chatter about the yuan has reached deafening volumes. Lots of people agree; at some point soon Beijing is going to change the way it manages its exchange rate policy.

Mainland tells banks to limit loans to local bodies

Mainland’s banking regulator has told commercial lenders to restrict new credit they provide to local governments’ financing vehicles, to ward off potential risks of default, state media reported on Wednesday.

Hong Kong to Raise Luxury Property Tax

Hong Kong’s government plans to raise the tax on luxury apartment deals and increase land supply to try and prevent the property market from overheating, a trend evident in many Asian markets.

Hong Kong introduces measures to avoid property bubble

Hong Kong said Wednesday that it will introduce a series of measures to cool the overheating property market, including increasing residential land supply and stamp duty for luxury flats.

Crackdown on soccer spreads to top team

One of the mainland’s most successful and popular soccer clubs has been dragged into the sweeping crackdown on the sport, a report said yesterday, as the country’s top football management body announced punishments for three other clubs for match-fixing.

Chinese Flock to Parks for Closer Look at Minorities

Tucked away in China’s steamy tropical southwest are the villages of the Dai people, famous throughout the country for a raucous annual tradition: a water-splashing festival where the Dai douse one another for three days in the streets using any container they can get their hands on — buckets, wash basins, teacups, balloons, water guns.

China could benefit from Swatch threat to halt component supply

Swatch Group’s plan to stop supplying rivals with key components threatens the “Swiss made” seal on which the industry rests and could force watchmakers to source from Asia, notably China, or simply go out of business.

China’s Communists issue ethics code

China’s ruling Communist Party has issued an ethics code to curb the widespread corruption that its leaders see as one of the biggest threats to its long-term survival, state media reported Wednesday.

Beijing government’s tightening package on property

Beijing local government released a policy package to cool down the property market. The key highlights as the following: