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Dire warning on 'Black Tuesday' anniversary


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From: WorldNetDaily
Sent: Thursday, October 29, 2009 10:38 AM
Subject: Dire warning on 'Black Tuesday' anniversary
Look ahead – not back – on key Depression date, author advises

Wisdom is usually hard-earned. But the sage economic insight author Vox Day offers in "The Return of the Great Depression" is a downright bargain. Readers have recognized that and pushed the title to the top of best-sellers at, where the ebook is going for only $1.99.

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On this 80th anniversary of the "Black Tuesday" stock market collapse, some analysts are experiencing déjà vu, warning a major crash in the stock market is imminent.

Graham Summers, senior market strategist at OmniSans Research, wrote in the firm's daily e-letter yesterday that the markets may finally be on the verge of the crash he has been predicting for more than two months.

"Well, judging from the market's action today, I believe we may be within 48 hours of getting the "Official Sell" signal I've been waiting for," he wrote in "Gain, Pains, and Capital."

The Dow Jones Industrial Average lost 119 points yesterday, or 1.2 percent, while the NASDAQ lost 2.7 percent. The Russell 2000 index of smaller companies dropped 3.5 percent.

Summers explained in an online piece Tuesday that he has been watching an ominous pattern develop in which the trading range shrinks as stocks rise higher. In the past, that pattern has led to a sharp downturn, he said.

"I've been forewarning of a potential crash for months now. And the market's current action is precisely what you would expect for a major top (increased volatility)," Summers wrote.

Author and WND columnist Vox Day, asserts in book released last week, "The Return of the Great Depression," that the U.S. is entering the early stages of the Second Great Depression.

Day's credibility is bolstered by his prediction seven years ago of the collapse of the housing market and the destruction of the financial services industry, in addition to some remarkably precise market forcasts.

In a Sept. 23, 2002, WND column, he wrote:

There can be little doubt that the implosion of the equity markets will soon be followed by the pricking of the credit and real estate bubbles. As great financial houses such as Citigroup and JP Morgan Chase teeter on the edge of bankruptcy, it is well within the realm of possibility that the triple whammy of the equity, credit and real estate implosions will lead to the collapse of the entire global financial system.

Day told WND he "wrote the book in order to give people a means of understanding what created the present economic situation and why there is a severe dislocation between what they are experiencing in the daily lives and what the government and the financial media are telling them."

"The Return of the Great Depression" examines the financial disaster of 2008 and provides vital new insights, including:

  • The possibility that it could be 2032 before the economy fully recovers;

  • The ominous similarities between the American economy of today and the crushing Japanese economic crash of 20 years ago;

  • How Obama's stimulus plan was actually smaller than Hoover's-and likely to be just as ineffective.

"The Return of the Great Depression" issues a somber warning: the widespread expectations of an imminent recovery are based on false hopes and bad economic theory.

"You don't have to be an economist, trader or sophisticated investor to appreciate the profound wisdom and insight in this book," said Joseph Farah, co-founder and CEO of WND Books. "It's presented in such a straightforward, easy-to-comprehend fashion that almost anyone can read it and everyone should. That's why right now we're selling the ebook for only $1.99."

NEW! THREE ways to buy:

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While limited supplies last, all copies of "The Return of the Great Depression" sold at the WND Superstore will be autographed by Vox Day—at no extra cost!

About the Author:
Vox Day Vox Day graduated in 1990 from Bucknell University with degrees in Economics and East Asian Studies. The infamous Internet Superintelligence first went viral on WorldNetDaily in 2001 and has been nationally syndicated twice, by Chronicle Features and Universal Press Syndicate.

He is a member of the SFWA, Mensa, and IGDA, and was a founder of the techno band Psykosonik. He transmits contagious memes on a daily basis from the Vox Popoli blog.


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