‘Crash Of A Lifetime’; Top Economist Predicts Major Collapse In Stocks

Harry Dent, a veteran financial author and economist, is maintaining that the stock market will experience the “crash of a lifetime” after first making the prediction this past December.

During a recent interview with Fox News, Dent warned that the “everything” bubble has still yet to burst and may end up leading to a more damaging crash than the 2008 financial crisis.

““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. “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.”

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While major indexes like the S&P 500, the Dow Jones and the NASDAQ recorded growth last month, Dent has refused to budge on his most ominous positions.

“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,” the economist warned. 

“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 bubble, and this is far larger and longer, one major bubble in history that has not ended badly, period.”

Fox News noted that the only update to Dent’s predictions was the timetable, as he is now predicting a market crash between early and mid-2025. Much like 2008, Dent believes housing will play a crucial part in the supposedly looming financial meltdown.

“No time in history has housing been so widely owned and so many people having second and sometimes third homes just for speculation,” Dent said. “If you understand what the real cycles are, you don’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 went on to say, “or what would have been, without all this $27 trillion stimulus, 2008 to 2022.”

He also responded to critics who have dismissed his predications and have accused him of fear-mongering.

“I just say what I see and, frankly, don’t give a damn if people don’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 responded. “They call me a ‘perma-bear.’ This is absolutely, uncategorically BS.”

“Looking at it from history and standing back, nothing’s more obvious,” Dent continued. “A lot of other bubbles in history just do not have the steepness or the magnitude. Why? We’ve never realized the power that central banks can have to just print money out of thin air.”

In December, Dent urged investors to take their assets out of the stock market due to the “bubble of all bubbles” that will supposedly cause markets to collapse.

“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 big crash is going to come on the back end,” Dent emphasized. “This is going to wash all this excess out of the markets, bring the markets down to where they should be so that the millennial generation can have a boom that is healthier and that they can invest their savings into for retirement.”

Dent concluded by stressing that “the government created this bubble 100%.”

“Totally artificial, injecting a drug to artificially perform stronger. And again, everything from human life to history shows, you don’t get something for nothing, and bubbles always burst … it’s a much, much higher possibility than anybody gives it.”