The only issue I have with these predictions back in 2003 (and it's a big important issue) is that the prices in 2003 where similar to where the markets are trading now.
In other words if you took what the essay is attempting to say and shorted you would have suffered enormous unecessary pain to only be back to the level you got in at. (excluding inflation and interest payments)
As always, timing is paramount in this game and if we look for info on crashes and rallies we will duly find them in all time periods from different sources and in all languages.
Interesting stuff maybe but should be taken with the smallest pinch of salt.