Harry Dent, the outspoken financial writer and economist, is n’t reversing lessons from his strong” collapse of a lifetime” charter this past December.
Speaking in an updated interview with Fox News Digital, Dent cautioned that the “everything” bubble , also has no burst, and , it may be a bigger fall than the Great Recession.
” In 1925 to ‘ 29, it was a natural balloon. That was not unnatural trigger, as it was. So this is fresh. This has never happened”, Dent said Tuesday. ” What do you do if you want to treat a migraine? You drink more. And that’s what they’ve been doing”.
” Fooling the market with extra cash for the long term may actually improve the overall economy. But we’ll just notice when we see this balloon burst”, he added.  ,” And suddenly, this balloon has been going 14 times. Instead of most bubbles]going ] five to six, it’s been stretched higher, longer. But you’d have to expect a bigger accident than we got in 2008 to ‘ 09″.
As markets inch closer to the halfway mark of the year, US stocks  , ended the month of May with gains  , as the tech- heavy Nasdaq stole the show, finishing up 6.9 %. The S&, P 500 was up 4.8 % and the Dow Jones was up 2.3 %.
Nearly two weeks before, technology- and AI- large Nvidia announced a 10- for- 1 inventory split,  , propelling shares past$ 1, 000 , three days later, marking an all- time higher.
” I think we’re going to see the S&, P go down 86 % from the top, and the Nasdaq 92 %. A hero stock like Nvidia, as good as it is, and it is a great company, ]goes ] down 98 %. Boy, this is over”, Dent stressed.  ,
” We have never seen]the ] government sustain a totally artificial bubble for a decade and a half, and see what happens after that”, he continued. ” But I can tell you, there has not been one bubbles, and this is much larger and longer, one big bubbles in history that has not ended hard, time”.
The only adjustment to Dent’s forecast is the timing, which suggests that marketplace bottoms are likely to appear somewhere between first and mid-2020.
The real estate industry is at the centre of the balloon. Dent had recently predicted that casing would experience 2012 lows this season, and he made a claim on Tuesday that US homes have already increased by two or more times what they’ll soon be fair.
No other time in history has housing been so frequently owned, and there are as many people buying vacant homes as collateral for a potential market crash, according to Dent, pointing out that more and more people are finding themselves in this situation.
” If you understand what the real cycles are, you do n’t have to buy the most expensive home in history right at the top of the market and then moan for 14 years while it goes through the next downturn, like’ 29 to ‘ 42 or ‘ 68 to ‘ 82″, the author expanded, “or what would have been, without all this$ 27 trillion stimulus, 2008 to 2022”.
Dent also responded to critics who have called his theories” insane” and accused him of fearmongering.
” I just say what I see and, frankly, do n’t give a damn if people do n’t like it, because you ]have ] got to choose: Are you going to tell the truth, or are you going to make people happy”? he reacted. ” They call me a’ perma- keep.’ This is totally, uncategorically BS”.
” Looking at it from past and standing up, nothing’s more clear”, Dent continued. ” Many other bubble in history simply do not have the slope or the scale. Why? We have never been aware of how powerful central banks are to simply display funds from thin air.
People find him “radical” for thinking that tracking lengthy- word trends is “easier” than in the short term, according to the financial writer.
” There really is nothing to conceal besides the safest bonds in the world,” Dent said. ” We’re the largest economy in the world. We may experience this decline. And if they can display money to make a balloon, they may print money to pay off their bonds as well.
” In the Great Depression, the big crash came]from ] 1929 to ‘ 32, and then the follow- up ]was ] ‘ 38 to ‘ 42. It’s reversed]now], because all the stimulus we had]made ] the 2009 crash more minor. The great crash is going to appear on the rear end”, Dent emphasized. This will remove all this extra from the markets and bring the markets back to where they should be, so that the younger generation can experience a growth that is healthier and that they can put their savings toward for retirement.
Dent recently advised investors in December to shift their money out of the stock market anticipating the “bubble of all balloons.” If he had to possess a new brand,  , he’d get bitcoin.
” Because it’s in a leading market that is still in its early stages that has bubbled the most. That’s how you know a major industry: It crashes. Bitcoin’s already been down over 70 %. We have n’t had a recession yet, so that’s how volatile it is”, he explained. If I could get one thing close to the bottom in two or three years, it crashes the most.
But Dent wants investors to recall:” The authorities created this balloon 100 % … entirely artificial, injecting a medication to deliberately do stronger. And again, everything from human life to history shows, you do n’t get something for nothing, and bubbles always burst … it’s a much, much higher possibility than anybody gives it”.
