The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and China’s recent stock market decline – years before they happened – has issued a new earth-shattering statement:
“The Dow is set to embark on a catastrophic plunge…all the way down to 6,000.”
Harry Dent recently explained: “Nations are dealing with aging populations, bubbles based on debt, and the misguided but unrelenting belief of policy makers that if they only try one more monetary policy change, they can turn the economic tide.”
But investors are finally waking up to the fact that we are in an economic winter. With it comes a whole assortment of problems: sluggish demand, falling commodity prices, and a race to devalue currencies to boost exports at the expense of everyone else.
We should heed his warning. He is renowned for his astounding accuracy; having pinpointed nearly every major economic crash over the past 30 years… including the 1991 recession, Japan’s lost decade, the 2001 tech crash, the bull market and housing boom of the last decade and, most recently, the impending demise of China and the fracking industry.
In his , Dent further details the “perfect storm” of economic and demographic realities brewing that will likely make the next few years some of the most trying times in U.S. economic history.
“Housing prices will start to fall by as much as 40% over several years… unemployment will surge… many state and municipal governments will be forced into default…and the federal deficit will balloon to as high as $1.5 to $2 trillion,” warns Dent.
We are approaching what he terms “The Greater Depression”, and the coming months look bleak: “The recession is NOT over yet. $100 trillion of the $225 trillion in loans, bonds and stocks across the world…will simply disappear.”
And this will happen on a worldwide scale, unleashing a tidal wave of destruction across the globe. Dent emphasizes that this is not a concern to simply shrug off and pass onto future generations– he warns: “this global phenomenon has already begun.”
Hopefully most investors have taken steps to avoid some of the carnage.
For those who haven’t taken such steps, the past few days have been one heck of a wake-up call!
Dent says those who prepare and position themselves beforehand could have the opportunity to earn millions through specific “decline-related” investments year after year, over the next decade as well as maximize the next long-term “boom cycle,” which he predicts will begin between early 2020 and late 2022.
The , initially released to a private audience, has gone viral as hundreds of thousands are seeing new evidence for a looming economic crisis, and are heeding Harry Dent’s advice to survive and prosper.