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Harry Dent, a veteran financial author and economist, is maintaining that the stock market will experience the “crash of a lifetime” after first making the prediction this past December.
During a recent interview with Fox News, Dent warned that the “everything” bubble has still yet to burst and may end up leading to a more damaging crash than the 2008 financial crisis.
““In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened,” Dent said. “What do you do if you want to cure a hangover? You drink more. And that’s what they’ve been doing.”
“Flooding the economy with extra money forever might actually enhance the overall economy long-term. But we’ll only see when we see this bubble burst,” he added. “And again, this bubble has been going 14 years. Instead of most bubbles [going] five to six, it’s been stretched higher, longer. So you’d have to expect a bigger crash than we got in 2008 to ’09.”
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