By Daily Crux Editor Justin Brill:

We've only seen the first phase of this crisis according to Robert Prechter, president of Elliott Wave International. Despite widespread talk of recovery, he says the deflationary trend and "the march towards depression" remain intact.

Prechter believes the next phase will leave investors with few places to hide, and recommends individuals purchase only the "safest possible investments," like U.S. dollars and cash equivalents.

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