“You Can’t Listen To Your Damn Stock Broker” – Forecaster Warns Of 70% Stock Market Crash And New Great Depression

by Mac Slavo | Jul 31, 2016 | Headline News | 106 comments

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Economic forecaster Harry Dent has been analyzing the economy and trading markets for decades. Utilizing a wide breadth of research that includes capital flows and demographics, he has accurately called market tops, turning points and asset price movements.

Dent recently joined CrushTheStreet.com to discuss his thoughts on the current economic, monetary and financial landscape and the news isn’t pretty. According to Dent, a new great depression is coming and we may well be on the cusp of a massive downturn as the the world’s numerous bubbles start bursting.

Every time in history that we’ve seen a debt bubble, we’ve seen financial asset bubbles… sometimes it’s more in real estate, sometimes more in stocks…

This time it’s everything… We’ve got bubbles everywhere and these bubbles are going to have to collapse and deleverage.

And it means, for investors, just once in your lifetime you can’t listen to your damn stock broker.


(Watch At Youtube)

All we’ve done since 2008 is stop the next Great Depression from happening with endless money printing.

It looks like it’s getting ready to unravel because you can only keep an economy going artificially with free money for so long because free money causes its own excesses, and greater bubbles, and mis-investment. 

…

I’m not a Republican or Democrat… I’m not a bull or a bear… I’ve been the most bullish economist in history and now I’m one of the most bearish because we’re in a bubble economy… and bubbles have to burst… they don’t correct… they don’t go down slowly… they crash and burn… In typical bubbles commodities and stocks are 80% give or take before they bottom and in real estate 50% – 60%…

We’re not going to get a 20% correction when this stock bubble bursts… It’s going to be worse than 2008… It’s going to be a 70% correction. 

…

I think now or in the next six months these bubbles, the final bubbles in stocks and bonds, are going to burst. We’re going to see several years of the worst downturn since 1929-1932. 

If you don’t see it coming you’re going to be shocked…

Buckle up, because if Harry Dent is right we are about to witness an unprecedented investor panic across the world.

For more interviews like this one visit CrushTheStreet.com

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