The founder of HS Dent Investment Management and author of several best-selling books, Harry Dent, warned that the biggest crash in our lifetime will likely happen by mid-June. He explained that the biggest crash that he is predicting is what the 2008-2009 crash should have been, noting that the S&P 500 was down 57% at that time. As much as 86% [decline] for the S&P 500 in this crash and 92% on the Nasdaq … Bitcoin will go down more like 95%, 96%, according to him.
The economist has repeatedly warned about the biggest crash in a lifetime. He pointed out that after his previous warning, the Nasdaq went down 38% in October 2022
Source: www.youtube.com
According to Dent, we have not cleaned up the massive debts and overvaluations of the biggest financial assets bubble in everything. This bubble has not been allowed to burst and clear out its excesses.
Dent further explained that what looks like a correction will turn into “a crash more like 1929 to 1932, down 86% on the S&P 500,” emphasizing that it is his “best forecast at this time.” The economist clarified: “You get a first wave down, a second wave bounce which we’ve seen, we’re already into the third wave just starting.” The third wave is usually the strongest and hardest wave and most of that’s going to happen between now and the end of the year. And the biggest part of that third wave is going to hit between now and mid-June.
There are many doomsday economists these days – Nouriel Roubini is one of them. Nothing is certain. All we could do is to prepare for the perfect storm and trust in God to salvage us through and protect us from harm.
Reference:
Economist Harry Dent expects biggest crash in our lifetime to hit between now and mid-June, https://news.bitcoin.com
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