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Economist Harry Dent is predicting a stock market crash bigger than the one seen in 2008.
“This bubble has been going on for 14 years. Unlike most bubbles, [going] “It’s been five or six years, it’s been higher and it’s been longer. So we have to be prepared for a bigger crash than we had in 2008-2009.”
Harry Dent, the outspoken financial writer and economist, has no plans to back down from his bold December declaration of “the biggest crash of our lifetimes.”
In a new interview with Fox News Digital, Dent warned that the “everything” bubble has not yet burst and that the crash could be bigger than the Great Recession.
“The 1925-29 bubble was natural. There was no artificial stimulus behind it. So this is new. Nothing like this has ever happened before,” Dent said Tuesday. “If you want to cure a hangover, what do you do? Drink more. And that’s what they’ve done.”
“Pumping extra money into the economy forever may improve the overall economy in the long run, but we won’t know until we see this bubble pop,” he added. “Again, this bubble has lasted 14 years. Unlike most bubbles, [going] “It’s been five or six years, it’s been higher and it’s been longer. So we have to be prepared for a bigger crash than we had in 2008-2009.”
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“The S&P will fall 86% from its peak and the Nasdaq will fall 92%. Hero stocks like Nvidia are great companies, [goes] “It’s down 98%. It’s over,” Dent stressed.
The U.S. economy will remain a top issue in the 2024 election.
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