Prechter on Grand Supercycle Peak Belief in Bailouts

"It is a sign of a Grand Supercycle-degree peak that governments even care what happens in the stock market. This orientation is a death trap for politicians. If people think their government is to be credited for a rising market, they will blame it for a falling one." [...]

People keep asking, “What effect will the next central-bank plan have on the stock market’s behavior?” This is the wrong question. The socionomic orientation turns the question around: “What effect will the next stock market move have on the central bank’s behavior?” [T]he authorities are not pushing the stock market around; the stock market is pushing the authorities around.