I finally finished the huge 40 page Elliott Wave Theorist for July-August where Mr. Prechter does a study correlating the career of the Beatles and relates it to waves of social mood. It is a fascinating study and well worth your time if you have any interest in trying to enter politics, create works of art for mass consumption or otherwise enter a field that is reliant upon mass cultural trends to support your efforts.
Different people will take various lessons away from this study. Some key points I homed in on were:
- "Social Mood" won't do your work for you. If you are planning to catch a bottom in mood and then try and start a business or write a novel you think fit for the mood and times or find the right entry point to start a political career, you have to get working now (yesterday would have been better) and build up your skills to take advantage of the rolling waves of change we are going to have to surf in the coming decades. Don't just think you can whip up a novel intertwining paranoia, conspiracy theories, murder and anti-heroes and expect a hit. Writers write. Get to it. Same for a political career. Start small now. Get on a board or commissions. Network. Preparation is key.
- Keep track as best you can of where you are in the wave count. The era we are going to live through will have massive waves of pessimism and anger wash through it. We may have to see or endure horrible things before it is all over. Know that this too shall pass and be ready to act a rock of sanity when things get crazy, behave with reason and fortitude when others are succumbing to magical thinking and enjoy the moments that the coming phase will offer you. Times of negative mood bring out toughness and serious actions. Small-scale living, tight-knit communities and the joys of less stuff and more real social interactions are not all bad things. Enjoy the moment.
- Know that the this phase of negative mood is going to break up a lot of "bands" - whether it be marriages, political parties or entire countries. Don't ignore this. Be ready for it and be prepared to build up new and hopefully better structures from the ruins.
Those are just some thoughts this article provoked. If you subscribe to EWT and have had a chance to read it, feel free to leave a comment of what you took away from it. Enjoy the weekend.