In a recent episode of Robert Kiyosaki's radio show, Harry Dent said that a brutal market crash and economic depression are inevitable because of excessive stimulation.
The market historian and newsletter writer said that it's not possible to just print money and grow an economy. He was referring to the Federal Reserve.
Dent claimed that the Fed has beenshoring up the US economy since the beginning of the financial crisis. The US government's aid packages only made the problem worse, he said.
He said that if that doesn't tell you something's wrong, you better wake up.
The author of "The Great Depression Ahead" believes that stock prices have peaked.
He said that he expected the stock market to tank by over 40% by the end of the year or early in the next decade.
Dent thought that an economic slump was a good development.
I'm not sure what recession is to me. He said the economy needs to sleep, bad debts need to be restructured, and the worst companies need to be weeded out. I'm pleased to see a downturn.
He said that this is not going to be a recession. It will take a couple years to work out the depression.
A market crash as a chance for young people to invest at reasonable prices, earn solid returns, and save for retirement was framed by Dent.
A guest of Kiyosaki recommended investing in long-dated Treasury bonds before asset prices crash. If the housing market collapses and home financing dries up, residential buildings such as duplexes and apartment blocks will be in high demand. He said that government bonds were a haven until better opportunities emerged.
Dent predicted that inflation would peak around 10% and that it would not be a problem for at least 50 years. During the dot-com bubble, he said, the most popularcryptocurrencies could lose all of their value before they reach the point where they are worth much more.
A growing number of indicators show that the housing-market slowdown is starting to look more similar to the 2008 crash than previously thought.
All Rights Reserved © 2024
