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Another merchant of gloom was Wall Street Analyst John H. Lewis,* a historical parallelist, who had made his reputation in July 1946 by announcing a bear market just as the market started down.

This is called the parallelist theory.

Observation and the testimony of the consciousness seem to attest this dual progress; but they are, according to the parallelist hypothesis, illusions.

Let it be understood that I am here pointing out one of the forms, and that the most usual, of the parallelist theory.

The materialist places the representation after this movement and derives it from the movement; the parallelist places it by the side of the movement and in equivalence to it.