This book was easy to follow. Published in 1983, Fred Harrison analyzed
the economic trends in terms of the 18 year cycle in prices that could
be traced to the land market. With the previous trough in 1974, 18
years of growth would be terminated in "yet another deep seated
depression of even greater magnitude that the structural recession which
began in 1974.
That dated the next trough to 1992, as per the published forecast.
History proved the forecast correct. In Britain, the bottom of the
depression was acknowledged to be in the first quarter of 1992. There
was no magic about the prediction said Fred later: "It merely required
an unprejudiced analysis of those factors that destabilize the