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Top Economist Predicts ‘Crash of a Lifetime’ Worse Than 2008 Recession

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Harry Dent, the outspoken financial author and economist, isn’t reversing course from his bold “crash of a lifetime” declaration this past December.

Speaking in an updated interview with Fox News Digital, Dent cautioned that the “everything” bubble still has not burst, and it may be a bigger crash than the Great Recession.

“In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened,” Dent said Tuesday. “What do you do if you want to cure a hangover? You drink more. And that’s what they’ve been doing.”

“Flooding the economy with extra money forever might actually enhance the overall economy long-term. But we’ll only see when we see this bubble burst,” he added. “And again, this bubble has been going 14 years. Instead of most bubbles [going] five to six, it’s been stretched higher, longer. So you’d have to expect a bigger crash than we got in 2008 to ’09.”

As markets inch closer to the halfway mark of the year, US stocks ended the month of May with gains as the tech-heavy Nasdaq stole the show, finishing up 6.9%. The S&P 500 was up 4.8% and the Dow Jones was up 2.3%. (Read more from “Top Economist Predicts ‘Crash of a Lifetime’ Worse Than 2008 Recession” HERE)

Economist: 2024 Will See ‘Biggest Single Crash’ of Our Lifetime

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As Americans struggle to cope with Bidenflation, one US economist has an ominous forecast of a looming depression.

Economist Harry Dent was unfortunately not full of holiday cheer in his comments to Fox News Digital. “Since 2009, this has been 100% artificial, unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. This is off the charts, 100% artificial, which means we’re in a dangerous state,” Dent argued. “I think 2024 is going to be the biggest single crash year we’ll see in our lifetimes.” Of course, as we all know, economists can be wildly wrong in their predictions. But it’s undeniable that America is deeply in debt, over-printing money, and, under Biden, laboring under disastrous economic and financial policies

American families living paycheck to paycheck might take exception to Dent’s comment that he’s “praying for a crash while everybody else is not.” But he explained further: “We need to get back down to normal, and we need to send a message to central banks. This should be a lesson I don’t think we’ll ever revisit. I don’t think we’ll ever see a bubble for any of our lifetimes again.” While many are optimistically indicating a mild recession for investors, Dent thinks the “everything bubble” begun in late 2021 is about to burst and rain disaster. He predicted that, for some time, the poor will get poorer and the wealth gap will widen.

“This is the one time I’m telling you, do not listen to your financial adviser,” Dent insisted. “Things are not going to come back to normal in a few years. We may never see these levels again. And this crash is not going to be a correction. It’s going to be more in the ’29 to ’32 level. And anybody who sat through that would have shot their stockbroker.” According to Dent, there’s no chance of a soft landing based on the Federal Reserve’s rate trajectory.

He continued, “That’s an 86% crash in the S&P and a 92% crash in the NASDAQ. And crypto, it’s going to be 96%. So that is a big deal.” He then prophesied bad news for real estate, “And real estate, by the way, is only projected, by me, to go back to its 2012 lows… but that’s a 50% crash for the average house, which went down 34% in the last crash, more than the Great Depression, more than any time in history. That is what’s going to hurt people the most.” (Read more from “Economist: 2024 Will See ‘Biggest Single Crash’ of Our Lifetime” HERE)

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Harvard Economist: Expect Inflation for the Next 2 Years

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One Harvard University economist is warning that high inflation will remain through 2023.

Last week, the Bureau of Labor Statistics reported that in December consumer prices rose by 7% over the previous year — the highest rate in roughly 40 years. Likewise, “real average hourly earnings” — which consider the effect of inflation — decreased by 2.4% from December 2020 to December 2021, slashing the purchasing power of American consumers.

In an interview with Fox Business, Kenneth Rogoff — a Harvard economist and chess Grandmaster — explained that “it’s not so easy to raise interest rates to fight inflation when public and private data is high, when the stock market is high, when housing prices are high, when the economy is still weak.” Central bankers willing to do so would have “a lot of stomach.”

Rogoff added that policymakers at the Federal Reserve must balance the need to cut runaway inflation while avoiding a recession. “And I think the question is: How much are they going to have to step on the brakes to really slow inflation down?” he said, predicting that the Federal Reserve will be conservative in their rate increases.

As the central bank has not used rate hikes to kill high inflation for decades, Rogoff said “it’s not clear how it’s going to work.” (Read more from “Harvard Economist: Expect Inflation for the Next 2 Years” HERE)

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