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Before Obama: How Bush Became “The Worst President Ever”
By Nico Isaac - Wed, 05 Nov 2008 19:45:00 ET

In the wake of Democratic senator Barack Obama’s historic rise to the ranks of United States President, it’s difficult not to acknowledge his predecessor George W. Bush’s precipitous fall from that very position.

Fact is, public opinion of Bush has undergone one of the most radical about faces in recent memory: From first-term “Cowboy” with the highest approval rating in the Gallup Poll’s entire 70-year history — TO — second-term whipping boy with a record-low approval rating of 27%.

In the words of one November 5, 2008 Wall Street Journal: “It seems no matter what Mr. Bush does, he is blamed for everything.” And, according to the experts, “W” will undoubtedly go down in the book as the “Worst President Ever.”

Contrary to popular belief(s), according to socionomics – the new science of history and social prediction based on the Elliott Wave Principle – the REAL reason behind Bush’s fall from grace is not “policy” (say the leftists), “scapegoating” (say the rightists), or a “breakdown of bipartisanship” (say the middle-ists). It is: A downturn in mass social mood, as reflected by the bear market decline in the Dow Jones Industrial Average.

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It’s a sign of hard-fought wisdom when you hear yourself say, ‘If only I knew then what I know now.’ In fact, many of us are saying to ourselves right now, ‘If only I knew a few months ago that the stock market would turn so bearish…’

Subscribers to Bob Prechter’s Elliott Wave Theorist often get the flip side of that feeling, as in, ‘Boy, am I glad I was prepared for what’s happening in the economy and the markets today.’ Let’s look at three examples taken from Bob’s Theorist of just over a year ago in September 2007, which he titled, Fasten Your Seat Belt. This is the best way I know to point out that those who got Bob’s message one year ago have been well prepared for the fiasco that the markets and the economy find themselves in now.

Excerpted from the September 2007 Elliott Wave Theorist by Bob Prechter

FASTEN YOUR SEAT BELT

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Trading the Elliott Waves Winning Strategies for Timing Entry & Exit Moves

The best teachers go beyond mere instruction — they actually make learning fun and easy. Once you’ve watched this DVD, originally recorded at the Trader’s Hall of Fame conference in Las Vegas, you will be saying that about Bob Prechter.

Over the course of two hours Bob tells you most of what he knows about the Elliott Wave Principle – and he does it without a single dull moment.

As Bob himself tells you in this DVD, the Wave Principle “… helps you avoid major investment disasters,” and will often alert you to major opportunities – in the financial markets and beyond.

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Most of us think the term “deposits” mean funds that you deliver to the bank for safekeeping, but for nearly 200 years, the courts have sanctioned an interpretation of the term “deposits” to mean a loan to your bank.

Elliott Wave International, the world’s largest market forecasting firm, has just released a free report, Discover the Top 100 Safest U.S. Banks.

The free report will show you:

- The Top 100 Safest U.S. banks (two for each state)

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The following was adapted from Bob Prechter’s 2002 New York Times and Amazon best seller, Conquer the Crash – You Can Survive and Prosper in a Deflationary Depression.

Deflation requires a precondition: a major societal buildup in the extension of credit (and its flip side, the assumption of debt). Austrian economists Ludwig von Mises and Friedrich Hayek warned of the consequences of credit expansion, as have a handful of other economists, who today are mostly ignored. Bank credit and Elliott wave expert Hamilton Bolton, in a 1957 letter, summarized his observations this way:

In reading a history of major depressions in the U.S. from 1830 on, I was impressed with the following:

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