Financial author Harry Dent has once again predicted an imminent market crash, which he believes will surpass the severity of the 2008 recession. In an interview with Fox News Digital, Dent highlighted the prolonged “everything” bubble, suggesting that its burst could have devastating effects.
Dent explained that unlike the natural bubble of 1929, today’s economic bubble is artificially sustained by extensive financial stimulus. “Flooding the economy with extra money might enhance it long-term, but we’ll see when this bubble bursts,” he remarked. He predicts that this bubble, which has been inflating for 14 years, will result in a more significant crash than that of 2008.
Despite recent gains in the U.S. stock market, with the Nasdaq up 6.9%, the S&P 500 increasing by 4.8%, and the Dow Jones rising by 2.3% in May, Dent foresees dramatic declines. He forecasts the S&P to drop 86% from its peak and the Nasdaq to fall 92%, with stocks like Nvidia potentially plummeting by 98%.
Dent argues that the government’s artificial economic bubble, sustained for over a decade, is unprecedented and bound to end badly. He expects market bottoms to become evident between early to mid-2025.
He previously warned that the housing market would see 2012 lows this year, claiming that U.S. home prices have more than doubled their actual value. He pointed out that widespread home ownership and speculation are significant contributors to this potential crash.
In response to critics, Dent insisted, “I just say what I see and don’t give a damn if people don’t like it.” He criticized central banks’ ability to print money, arguing that “no major bubble in history has ended well.”
Dent advises investors to pull their capital out of the stock market, suggesting that Bitcoin could be a valuable investment in the future due to its volatility and growth potential. He warned that the government-created bubble will inevitably burst, reinforcing the lesson that “you don’t get something for nothing.”
