Economist Predicts 2024 Financial Apocalypse: Brace For The BIGGEST Crash Of Our Lifetime

Written By BlabberBuzz | Monday, 25 December 2023 12:00 PM
1
Views 3.6K

As we approach the year 2024, renowned economist Harry Dent has issued a stark warning about the impending state of the markets.

"Since 2009, we've been riding on an entirely artificial wave of unprecedented money printing and deficits, amounting to $27 trillion over 15 years. This is an off-the-charts, 100% artificial situation, which puts us in a precarious state," Dent informed Fox News Digital. "I predict that 2024 will witness the most significant single crash year we'll ever experience in our lifetimes."

While most are hoping to avoid a crash, Dent is praying for one. "We need to return to normalcy and send a clear message to central banks," he stated. "This should serve as a lesson we'll never forget. I don't believe we'll ever witness a bubble of this magnitude again in our lifetimes."

 WATCH: HOW WAS JURY SELECTION HANDLED IN TRUMP'S TRIAL?bell_image

Dent, who has dedicated most of his career to analyzing proprietary research, attributes his unconventional prediction to overvalued markets and excessive stimulus spending. Despite recent rallies that have led investors to anticipate a mild recession, Dent remains steadfast in his belief that an "everything bubble" will burst next year.

 WATCH: "WE WILL OPEN YOU UP LIKE A SOFT PEANUT"bell_image

Market bubbles are typically marked by a swift increase in stock prices, followed by a sharp decline. Dent pointed out that this particular bubble began in late 2021, at the peak of the COVID pandemic, with the first signs appearing in 2022 when the Nasdaq fell by 38%. He predicts that the new year will usher in the "B wave" of the crash.

 A LOOK INSIDE DEMOCRATS' PLAN TO WIN BACK THE HOUSE WITH RECORD INVESTMENTbell_image

"The Roaring 20s bubble was not an everything bubble. It was primarily stocks and urban real estate that bubbled," Dent explained. "This is the one time I'm advising you not to heed your financial adviser's advice. Things are not going to return to normal in a few years. We may never see these levels again. This crash will not be a mere correction. It's going to be on par with the '29 to '32 level. Anyone who lived through that would have fired their stockbroker."

 DEMS' LAST-MINUTE BID TO SAVE SEATS AMID SOUTHERN BORDER TURMOIL!bell_image

Dent predicts an 86% crash in the S&P, a 92% crash in the NASDAQ, and a 96% crash in crypto. "And real estate is projected, by me, to revert to its 2012 lows... but that's a 50% crash for the average house, which is more than the Great Depression, more than any time in history. That is what's going to hurt people the most."

 FOX NEWS COLUMNIST TEARS APART MTG'S "RECKLESS AGENDA"bell_image

Dent criticized investors who have participated in a year-end market rally where the Dow Jones Industrial Average ended last week with its third record close after crossing 37,000. He urged Americans to "get out of the way."

"If I'm right, this will be the biggest crash of our lifetime, with most of it occurring in 2024. You're going to see it start and become more apparent by May," Dent warned. "So if you just get out for six to 12 months and things stay at the highest valuation history, maybe you miss a little more gains if I'm wrong. If I'm right, you're going to save massive losses and be able to reinvest a year or year-and-a-half from now at unbelievably low prices and magnify your gains beyond compare."

 ARMY FINANCIAL ADVISOR'S DOUBLE LIFE: HOW HE DUPED GRIEVING MILITARY FAMILIES FOR MILLIONSbell_image

Last week, the Federal Reserve hinted at ending its historic campaign to curb inflation, sparking a new streak of records for the Dow. Policymakers, in their annual projections, priced in the potential of three rate cuts, with the federal funds rate falling to a range of 4.4% to 4.9%, down from the current 5.25% to 5.50%.

 ICE BLUNDER: AFGHAN NATIONAL SUSPECTED OF TERROR TIES ESCAPES U.S. TRACKING PROGRAM IN DAYS...bell_image

Dent argued that there's "no chance" of a soft landing given the Federal Reserve’s rate trajectory. He believes continued disinflation will turn into deflation for the first time since the 1930s, and that the central bank is dealing with a "weak" economy.

 TESLA'S UNSETTLING SHAKE-UP: MUSK ADMITS MISTAKE IN SEVERANCE PACKAGESbell_image

"The only reason they had to tighten so much is because they stimulated too much over COVID. But that tightening is now going to hit way more in 2024," Dent said. "And when you stop that gravy train and reverse the tightening, you're going to be in a depression within a year, not a mile. All this talk about, 'Oh, yeah, now we're going to have a mild recession' — not a chance in Hades."

 MAYOR ERIC ADAMS POINTS FINGER AT BIDEN: BLAMES ADMINISTRATION AMID MIGRANT PROTESTSbell_image

Dent cautioned that the "everything" bubble will have a lasting slowdown impact for 12 to 14 years. During that time, he agreed that America’s wealth gap would widen as the rich get richer and the poor get poorer.

"This is going to hurt the rich a lot more than the average person. The average person is going to lose their job for six months to two years. The average rich person is going to lose 50% to 80% of their lifetime accumulated net worth," Dent said. "They're going to see the biggest comedown to reality. And then the next stage of the boom is the millennial boom, which will not be as long as the baby boom, but it'll go into 2037 before we slow down again. That boom will be less rich-get-richer, it will be more the middle class catching up again."

X