Hold onto your hats, folks! Harry Dent, the notoriously bold financial prophet, is back with a dire warning that’s sure to make waves in the investment world.**
Speaking recently to Fox News Digital, Dent doubled down on his ominous “crash of a lifetime” prediction made last December, asserting that the “everything” bubble is still precariously inflated.**
“This bubble might be bigger than the Great Recession,” Dent warned, hinting at an unprecedented economic meltdown.**
Drawing historical parallels, Dent compared today’s economic situation to the 1925-1929 period but pointed out a crucial difference: “There was no artificial stimulus back then. This is new. This has never happened,” he noted on Tuesday.**
He likened the current economic strategy to curing a hangover by drinking more: “That’s what they’ve been doing—flooding the economy with extra money,” he explained.**
Dent emphasized that the bubble, which has been inflating for 14 years, much longer than typical five-to-six-year cycles, is bound to burst more dramatically than the 2008-2009 crash.**
As markets edged closer to mid-year, US stocks saw gains in May, with the tech-heavy Nasdaq up 6.9%, the S&P 500 up 4.8%, and the Dow Jones up 2.3%.**
Nearly two weeks ago, Nvidia’s 10-for-1 stock split sent shares soaring past $1,000, hitting an all-time high.**
But Dent’s predictions are grim: “I think we’re going to see the S&P drop 86% from the top, and the Nasdaq 92%. Even a hero stock like Nvidia could plummet 98%. This is over,” he stated emphatically.**
He highlighted the unprecedented nature of the current situation: “We’ve never seen a government sustain an artificial bubble for this long. This bubble is far larger and longer, and it’s bound to end badly.”**
The timing of the market bottom, according to Dent, is expected between early and mid-2025.**
Central to this looming disaster is the real estate market.**
Dent previously predicted that housing prices would hit 2012 lows this year and reiterated that US homes have already doubled or more in value beyond what they’ll soon be worth.**
“No time in history has housing been so widely owned, with many people having second and even third homes just for speculation,” Dent remarked.**
Countries like China and Japan are also seeing residents buy empty properties as a hedge against a potential market crash.**
Dent cautioned against buying expensive homes at the peak of the market, only to face long downturns, citing historical cycles from ’29 to ’42 and ’68 to ’82.**
Critics have called Dent’s hypotheses “crazy” and accused him of fearmongering, but he remains unfazed.**
“I just say what I see and frankly don’t give a damn if people don’t like it. You have to choose: Are you going to tell the truth, or are you going to make people happy?” he responded defiantly.**
Dent’s radical stance is rooted in historical analysis and the unprecedented power of central banks to print money out of thin air.**
He believes that long-term trends are easier to map than short-term ones, a view that many find controversial.**
“There really is nowhere to hide except the safest bonds in the world,” Dent advised.**
He reassured that the US, as the world’s largest economy, will endure the downturn. “If they can print money to create a bubble, they can print money to pay off their bonds,” he added.**
Dent referenced the Great Depression, where the big crash occurred from 1929 to 1932, followed by another from 1938 to 1942. “It’s reversed now because of all the stimulus we had, making the 2009 crash more minor. The big crash is coming on the back end,” he emphasized.**
This massive correction, he believes, will cleanse the markets of excess and set the stage for a healthier boom for the millennial generation.**
In December, Dent advised investors to pull their capital out of the stock market, suggesting Bitcoin as a potential buy post-crash.**
“Bitcoin’s already been down over 70%. We haven’t had a recession yet, so that’s how volatile it is,” he explained, pointing out that the most volatile assets often lead in new sectors.**
Dent reminded investors that the government’s creation of this bubble was entirely artificial.**
“Injecting a drug to artificially perform stronger is bound to fail. Everything from human life to history shows you don’t get something for nothing, and bubbles always burst,” he concluded.**
Dent’s predictions might seem radical, but they’re grounded in historical analysis and a critical view of government policies.**
His uncompromising stance and fearless forecasts continue to stir debate and captivate the financial world’s attention.**
With a crash of epic proportions on the horizon, Dent’s warnings serve as a stark reminder of the fragility of our economic system.**
Whether you believe in his doomsday scenario or not, one thing is clear: Harry Dent isn’t backing down, and he’s making sure everyone knows it.**