{"id":163602,"date":"2023-04-13T09:18:42","date_gmt":"2023-04-13T13:18:42","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=163602"},"modified":"2023-04-13T09:19:04","modified_gmt":"2023-04-13T13:19:04","slug":"major-investment-management-founder-expects-biggest-crash-in-our-lifetime-to-hit-between-now-and-mid-june","status":"publish","type":"post","link":"https:\/\/stateofthenation.co\/?p=163602","title":{"rendered":"

Major Investment Management Founder Expects Biggest Crash in Our Lifetime to Hit Between Now and Mid-June<\/b><\/h2>"},"content":{"rendered":"

<\/p>\n

Economist Harry Dent Expects Biggest Economic Crash in Our Lifetime<\/strong><\/h1>\n

by Kevin Helms
\nBitcoin.com<\/p>\n

\"Economist<\/div>\n
<\/div>\n

Harry Dent, economist and author of several best-selling books, has warned that the biggest crash in our lifetime is \u201cgoing to hit between now and about mid-June.\u201d He stressed: \u201cPeople are going to know this is not a big correction \u2014 it is a major crash, one that you have not seen \u2026 in your lifetime.\u201d<\/strong><\/p>\n

Harry Dent\u2019s \u2018Biggest Crash\u2019 Warning<\/h2>\n

The founder of HS Dent Investment Management and author of several best-selling books, Harry Dent, warned in an interview with David Lin, published Friday, that the biggest crash in our lifetime will likely happen by mid-June. Dent stressed:<\/p>\n

We won\u2019t see this again. We will not see a bubble economy, our kids will probably not even see a bubble economy decades and decades from now \u2026 It happens once in a lifetime at most.<\/p><\/blockquote>\n

He explained that the biggest crash that he is predicting is what the 2008-2009 crash should have been, noting that the S&P 500 was down 57% at that time. \u201cAbout a year and a half into that crash, central banks just stepped in and just started printing money at unprecedented rates \u2026 So that recession didn\u2019t really do its job of flushing out the greatest debt bubble in history,\u201d Dent described, adding:<\/p>\n

I am predicting as much as 86% [decline] for the S&P 500 in this crash and 92% on the Nasdaq \u2026 Bitcoin will go down more like 95%, 96%.<\/p><\/blockquote>\n

Dent expects the crypto market to crash alongside stocks, with\u00a0BTC<\/a>\u00a0falling 95%-96% from its November 2021 high. \u201cBitcoin will fall from $69,000 to about three to four thousand,\u201d he said, adding that \u201cIt\u2019s exactly what Amazon and the dot-coms did.\u201d<\/p>\n

The economist has\u00a0repeatedly warned<\/a>\u00a0about the biggest crash in a lifetime. He pointed out that after his previous warning, the Nasdaq went down 38% in October last year. \u201cThat\u2019s just the first wave down. There\u2019s two more to follow \u2026 We have already started the next wave down which could take the Nasdaq down to $8,000 just in this next wave, not the end of it. That\u2019s gonna be down a little over 50%,\u201d he detailed.<\/p>\n

\u201cThat\u2019s when people are going to know this is not a big correction \u2014 It is a major crash, one that you have not seen \u2026 in your lifetime, and the one that even the millennials will not see a bigger crash than this,\u201d Dent opined.<\/p>\n

Addressing why the recent crash happened later than he previously predicted, the economist clarified that the reason was due to central banks declaring war on recession. \u201cNever before \u2026 have central banks declared war, literal war, on recession, and said: \u2018We will not let the economy fall.’\u201d However, Dent noted that even with all the unprecedented money printing, \u201cwe keep falling back into the recession.\u201d He stressed: \u201cThe economy underneath is really really weak and really needs to get rid of a lot of really bad debt and zombie companies and the central banks won\u2019t let the economy do its thing \u2026 The central banks have declared war on the free market. That\u2019s the problem.\u201d<\/p>\n

The economist cautioned, \u201cWe are about to hit this third wave,\u201d emphasizing that he does not believe that the Federal Reserve will be able to stop it. \u201cI think it\u2019s going to creep up on them before they can reverse the tightening,\u201d he predicted, adding:<\/p>\n

We have not cleaned up the massive debts and overvaluations of the biggest financial assets bubble in everything. We have never had a financial asset bubble in everything like this. This bubble has not been allowed to burst and clear out its excesses which we need to do. And I think we are into that process now.<\/p><\/blockquote>\n

Noting that the Federal Reserve overstimulated the economy, and now they have to \u201ctighten strong,\u201d Dent stressed that the Fed has \u201cpushed up interest rates and tightened\u201d more recently than they ever did since the early 80s. \u201cSo this is serious tightening,\u201d he exclaimed. \u201cNow they\u2019re tightening and they\u2019re thinking well the economy underneath can handle it.\u201d However, Dent argued: \u201cNo, the economy underneath has been weak since 2008 and does not get strong until a few years from now.\u201d<\/p>\n

\n
<\/div>\n<\/div>\n

Dent further explained that what looks like a correction will turn into \u201ca crash more like 1929 to 1932, down 86% on the S&P 500,\u201d emphasizing that it is his \u201cbest forecast at this time.\u201d The economist clarified: \u201cYou get a first wave down, a second wave bounce which we\u2019ve seen, we\u2019re already into the third wave just starting.\u201d He elaborated:<\/p>\n

The third wave is usually the strongest and hardest wave and I think most of that\u2019s going to happen between now and the end of the year. And the biggest part of that third wave of the third wave. It\u2019s going to hit between now and mid-June.<\/p><\/blockquote>\n

\u201cIt\u2019s not easy to time the market as most people know, but this is so important that I am timing the market,\u201d Dent said.<\/p>\n

___
\nhttps:\/\/news.bitcoin.com\/economist-harry-dent-expects-biggest-crash-in-our-lifetime-to-hit-between-now-and-mid-june\/<\/a><\/p>\n

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