A well-known economist is foretelling of an upcoming major crash in the markets. Harry Dent stated that the market growth over the last 15 years has been “100% artificial, unprecedented money printing, and deficits” totaling roughly $27 trillion. This has resulted in our current dangerous state and he believes that the year 2024 will bring the biggest economic crash in our lifetime.
Dent’s prediction that the market will crash is feared by many investors who have witnessed the consistent mild recession expectations over the past few years, as a result of the stock market rallies. However, Dent argues that excessive stimulus spending and overly priced markets have created an “everything bubble” with a high risk of bursting.
The economist’s career in proprietary research provides him with the knowledge and expertise to forewarn investors of the impending crash. His stance has been that investors should set aside their greed and pray for an economic decline, rather than holding onto an unsustainable level of prosperity.
Dent reveals that his sole objective is to bring the market back to normalcy, and to convey a message to central banks to avoid revisiting this scenario in the future. He emphasizes the importance of learning from this current economic climate and taking preventative measures to avoid future market crashes.
It has become evident that markets have been significantly overvalued due to the stimulus spending and low-interest rates that have allowed investors to buy in with confident optimism. However, it is essential to note that Dent’s prediction arises from the understanding of the unsustainable state of the current market, which is purely artificial and unsustainable.
Dent believes that a market crash would send a powerful message to central banks and prevent an occurrence like this in the future. He insists that investors must not underestimate the gravity of a market crash, and rather brace for the inevitable, putting safety measures in place to protect their investments.