Renowned US economist sees market Armageddon coming. Stock market hiccups are nothing new, they virtually seem to happen every fifth day or so. However, a complete stock market meltdown, or a market Armageddon, is not something that is easily forecast. But the renowned 71-year old US economist Harry Dent has gone on record to say, ”This is all over”! Dent says that the US stock market crash is coming and it will be worse than the one in 2008, which caused so much destruction of wealth across the world, leaving many people virtually on the streets with nothing but the clothes on their back and that too without jobs. It caused many suicides. The market crash then had sent economies across the world reeling from the blow that the governments struggled to cope with for years. And now, here comes a prediction of something “worse” than even the “Great Recession”, and Dent referred to it as the “bubble of all bubbles”.
According to Dent, who is the founder of HS Dent Investment Management, the US stock markets will suffer such a crippling blow that Nasdaq will fall 92% and the S&P itself will plunge by as much as 86%. Dent was predicting the next stock market crash while speaking to Fox News in an interview. Considering that the stock markets are not really showing any signs of problems, Dent said that he considers it simply the calm before the storm. He explained that the only thing that has delayed the crash is the “artificial” stimulus – injecting extra money into the economy by the authorities.
He also said that when the stock market crash comes, it will be the “crash of a lifetime”. Dent kept on elaborating on his nightmarish theme and simply said that the “everything” bubble hasn’t burst as of yet. Explaining further, he said, “In 1925 to ‘29 (the Great Depression), it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened.”
Notably, Dent has been a long term critic of the way stock markets are run and function. In fact, the book he published in 2009 called “The Great Depression Ahead” acquired so much popularity that it got featured on the New York Times Bestseller List.
And is anyone really working on a solution or a soft landing? Dent was totally unconvinced about that, sarcastically saying, “What do you do if you want to cure a hangover? You drink more. And that’s what they’ve been doing.”
The cumulative effect of all this, or the result, as he sees it, will be worse than anything that happened before. He said, “So you’d have to expect a bigger crash than we got in 2008 to ’09.”
Renowned US economist Harry Dent’s horror stock market crash prediction has it that it will be worse than the one in 2008. Expects Nasdaq to fall 92%, S&P 86%! Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
