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New York: Tuesday, June 18, 2024
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Politics: Consumer Sentiment Sees Big Drop

POLITICS: Economist Predicts Big Stock Market Crash

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Economist Harry Dent is predicting a stock market crash bigger than the one seen in 2008.

Dent said, “And again, this bubble has been going 14 years. Instead of most bubbles [going] five to six, it’s been stretched higher, longer. So you’d have to expect a bigger crash than we got in 2008 to ’09.”

Fox Business reported:

Harry Dent, the outspoken financial author and economist, isn’t reversing course from his bold “crash of a lifetime” declaration this past December.

Speaking in an updated interview with Fox News Digital, Dent cautioned that the “everything” bubble has still yet to burst, and it may be a bigger crash than the Great Recession.

“In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened,” Dent said on Tuesday. “What do you do if you want to cure a hangover? You drink more. And that’s what they’ve been doing.”

“Flooding the economy with extra money forever might actually enhance the overall economy long-term. But we’ll only see when we see this bubble burst,” he added. “And again, this bubble has been going 14 years. Instead of most bubbles [going] five to six, it’s been stretched higher, longer. So you’d have to expect a bigger crash than we got in 2008 to ’09.”

“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.

The US Economy remains a top issue for the 2024 election.



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