US economist predicts 2024 will bring 'biggest crash of our lifetime'

[mystery-ak]

 December 19, 2023 6:00am EST
US economist predicts 2024 will bring 'biggest crash of our lifetime'
Harry Dent warns an 'everything bubble' will burst in the new year

By Kristen Altus FOXBusiness

As the clock ticks closer to 2024, one outspoken economist is making a dire predication about the markets in the new year.

"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," Harry Dent told Fox News Digital. "I think 2024 is going to be the biggest single crash year we'll see in our lifetimes."

"I'm the guy that's praying for a crash while everybody else is not. We need to get back down to normal, and we need to send a message to central banks," he continued. "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."

Dent, who spent the majority of his career analyzing proprietary research, credited his against-the-grain prediction to overvalued markets and excessive stimulus spending. While recent rallies have overwhelmingly provided investors with mild recession expectations, Dent remained firm that an "everything bubble" will burst next year.

Historically, market bubbles are characterized by a rapid rise in stock prices, before being met by a sharp fall.

more
https://www.foxbusiness.com/media/us-economist-predicts-2024-bring-biggest-single-crash-lifetime

[LMAO]

I’m been hearing “biggest crash next year” for the last several years

For sure, we are on an unsustainable path. And without a change of course, it’s only gonna get worse

But humans tend to be geared towards gloom and doom

[libertybele]

December 19, 2023 6:00am EST
US economist predicts 2024 will bring 'biggest crash of our lifetime'
Harry Dent warns an 'everything bubble' will burst in the new year

By Kristen Altus FOXBusiness

As the clock ticks closer to 2024, one outspoken economist is making a dire predication about the markets in the new year.

"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," Harry Dent told Fox News Digital. "I think 2024 is going to be the biggest single crash year we'll see in our lifetimes."

"I'm the guy that's praying for a crash while everybody else is not. We need to get back down to normal, and we need to send a message to central banks," he continued. "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."

Dent, who spent the majority of his career analyzing proprietary research, credited his against-the-grain prediction to overvalued markets and excessive stimulus spending. While recent rallies have overwhelmingly provided investors with mild recession expectations, Dent remained firm that an "everything bubble" will burst next year.

Historically, market bubbles are characterized by a rapid rise in stock prices, before being met by a sharp fall.

more
https://www.foxbusiness.com/media/us-economist-predicts-2024-bring-biggest-single-crash-lifetime

I think we need to allow the economy and market to adjust itself without all the interference from the Feds. Printing more money on an endless basis and raising and lowering rates does more harm than good. I also believe that we need to go back to the gold standard.

[libertybele]

I’m been hearing “biggest crash next year” for the last several years

For sure, we are on an unsustainable path. And without a change of course, it’s only gonna get worse

But humans tend to be geared towards gloom and doom

You are correct; continually printing more money to support other countries wars and the continual flow of ILLEGALS is unsustainable.

[DefiantMassRINO]

Keep an eye on bank insolvencies caused by falling collateral values.

In 2008, it was falling real estate collateral values that caused bank insolvencies.

In early 2023, it was falling 30 year treasury bond values that caused a couple of bank insolvencies.

If the Fed raises rates too fast, that won't give banks enough time to unwind their portfolios of low-yielding treasury bonds and improve their solvency by diversifying their collateral assets and investment instruments.

It will be interesting to see what the next black swan may be.

[DB]

2024 is an election year. A Republican doesn't hold the executive office.

The swamp will do whatever it takes to pump things up until the election is over.

After 2024 is when to watch out...

[LMAO]

You are correct; continually printing more money to support other countries wars and the continual flow of ILLEGALS is unsustainable.

Printing money and running massive deficits to support anything is unsustainable

[Free Vulcan]

Keep an eye on bank insolvencies caused by falling collateral values.

In 2008, it was falling real estate collateral values that caused bank insolvencies.

In early 2023, it was falling 30 year treasury bond values that caused a couple of bank insolvencies.

If the Fed raises rates too fast, that won't give banks enough time to unwind their portfolios of low-yielding treasury bonds and improve their solvency by diversifying their collateral assets and investment instruments.

It will be interesting to see what the next black swan may be.

While interest costs on the FedDebt are going vertical and will bring the reckoning soon, govt debt problems are a slow roll compared to what happens when the banking system fails, which as you said is not exactly in the best financial shape either.

[catfish1957]

I challenge anyone to give me a plausible reason why a 38K DOW is real and sustainable.

To the excellent comments around about saying the crash is next year, every year.......

All I got to say, is kicking the can down the road is only an option until the can crumbles.