Robert R. Prechter, Jr., Executive Director of the Socionomics Institute, discusses how Elliott Wave market trend analysis is predictive not only of stock markets but also human social behavior, the societal mood as a leading indicator of economic trends and warfare, the correlation between bull markets and bright mini skirts and how the bailouts encourage recklessness on Wall St. by encouraging moral hazard.

MP3 here. (34:08)

Robert R. Prechter, Jr. is president of Elliott Wave International, which publishes analysis of global stock, bond, currency, metals and energy markets. He is also Executive Director of the Socionomics Institute. Mr. Prechter is author, co-author and/or editor of 13 books, including Elliott Wave Principle – Key to Market Behavior , Socionomics: The Science of History and Social Prediction, and Conquer the Crash.