Monday, May 20, 2024

Harry Dent, a famous economic expert who wrote several popular books, stated that soon from now to around the middle of June, we will go through our biggest crash ever. He explained that this would be no ordinary dip in the economy but a big crash like we have never seen before in our lifetime.

Harry Dent Predicts S&P 500 Could See 86% Drop in Upcoming Crash

Harry Dent, a famous author and the founder of HS Dent Investment Management, recently said in an interview with David Lin that there could be the biggest crash ever within this lifetime by June. He believes that since a crash like this only occurs once-in-a-lifetime, our kids probably won’t even get to experience something like it in future.

He said that the upcoming crash he’s predicting is going to be bigger than what happened in 2008-2009 when the S&P 500 dropped by 57%. Instead of allowing this recession to do its job and get rid of all the debt, central banks stepped in and started printing a lot of money. This stopped the recession which was supposed to help clear away all the debt.

I’m predicting that the S&P 500 could decrease as much as 86% and the Nasdaq by 92% during this crash. Bitcoin’s value will drop even more: it could be down 95-96% from its November 2021 peak. It could go from being worth $69,000 to only a few thousand dollars, which is pretty much what happened with Amazon and other companies during the dot-com bubble back in the day.

An economist recently warned there could be the biggest crash of our lifetimes. He mentioned that last October, after he made his warning, the Nasdaq stock market dropped 38%. He then made a new prediction, saying that it might drop another 50%, all the way down to around $8,000.

“People will eventually realize what we’ve got into isn’t just a small drop in value, but instead a big crash. It’s bigger than any that you or even the millennials have experienced before in your lives”.

The economist said the crash happened later than what he predicted because of something called central banks that declared war on recession. Central banks had never did this before and they tried to stop the economy from falling by printing a lot of money, but it still wasn’t enough. The problem is that underneath all this, the economy is really weak and needs to get rid of bad debt and zombie companies, but the central banks won’t let it do so – kind of like they’re waging war against free markets.

The economist warned us, “We’re about to go through a tough third wave.” He said that the Federal Reserve probably won’t be able to stop it. “It will become more powerful before they can turn things around,” he suggested.

“We haven’t moved past the large debt and prices of all the financial assets that are too high. We have never seen a bubble like this before. It hasn’t been able to burst and get rid of what we don’t need, but I think it is happening now.”

The Federal Reserve (the Fed) gave our economy extra money to help it grow in the past, but now they have put the brakes on. The steps they are taking are more serious than anything they did since the 1980s. The Fed thinks the economy will be okay with these measures, but really it has been weak since 2008 and won’t correctly recover until a few years in future.

Dent predicted that the US stock market would suffer a massive fall, similar to what happened between 1929 and 1932. During this time, the S&P 500 will go down by about 86%. So far, we’ve already seen two major drops but now we’re entering the third wave.

Harry Dent predicted that the third wave, which is usually the biggest and most powerful one, will occur between now and mid-June. He said it isn’t easy to forecast when a market shift like this happens but he still does it because it’s very important. What do you think about Harry’s predictions? Let us know in the comments section below!

The photos used in this passage came from Shutterstock, Pixabay, Wiki Commons, and lev radin.

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