Monday Oct 15, 2018
Saturday in ACCT 5308 we discussed the Wave Theory pioneered by Accountant Ralph Nelson Elliott.
postulates that social mood determines social outcomes. This is contrary to the conventional wisdom that external events determine mood and therefore events.
Politicians like to claim credit for any positive thing that happens during their watch. Bill Clinton claimed credit for the stock market rise of the 1990s.
But take a look. Eliott's five waves pattern exactly what Clinton experienced in office. It was excessive positive mood that buoyed the market and therefore his popularity allowing him to survive the Monica Lewinsky episode. Had that happened in say the Jimmy Carter era of negative mood, a President would not likely have stayed in office.
Carter is an example of a series of Presidents, Johnson, Nixon, Ford, and Carter, none of whom survived the negative mood of 1966-1982.
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