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Chapter 9: The New View of the Economy Helped Us Predict the Current Bubblequake, So Why Don't Some People Like It?

This new way of understanding the economy based on the Theory of Economic Evolution, which is part of the broader STEP Evolution, made it possible for us to see what others were (and still are) missing. It made it possible for us to accurately predict, in 2006, Phase I of the Bubblequake of 2008 and 2009 (we also predicted Phase II and Phase III in that book, but they’re still in the future). And it is directly responsible for our current prediction about the coming Phase II, the Aftershock, in this book. In fact, we even know what Phase III will look like (see next chapter) and Phase IV (see next book).

However, many other economists and financial analysts didn’t see and still don’t see these phases coming and most of them will not agree with this book. How come? Why will some people not see what seems pretty straightforward and obvious to us?

The reason is the six psychological stages of dealing with the Bubblequake and Aftershock that we first told you about in Chapter 3. We have been in the first stage (Denial) for a long time, and now we are entering the second stage (Market Cycles), in which most experts believe things will get better soon.