{"id":2137897,"date":"2024-01-01T17:25:01","date_gmt":"2024-01-01T22:25:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-economist-predicts-that-2024-will-prompt-biggest-crash-of-our-lifetime\/"},"modified":"2024-01-01T17:28:53","modified_gmt":"2024-01-01T22:28:53","slug":"u-s-economist-predicts-that-2024-will-prompt-biggest-crash-of-our-lifetime","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-economist-predicts-that-2024-will-prompt-biggest-crash-of-our-lifetime\/","title":{"rendered":"U.S. economist warns of &#8216;massive crash&#8217; in 2024"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-economist-predicts-that-2024-will-prompt-biggest-crash-of-our-lifetime%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2137897&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large is-resized\"><figcaption class=\"wp-element-caption\">(Photo by Mario Tama\/Getty Images)<\/figcaption><\/figure>\n<p>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/elizabeth-volberding\">Elizabeth Volberding<br \/><\/a>2:20 PM \u2013 Monday, January\u2063 1, \u200b2024<\/p>\n<p>American economist\u2064 Harry Dent made an unfortunate prediction about the markets in the new year, claiming that 2024 will bring forth the \u201cbiggest crash of our lifetime.\u201d<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Dent, who\u200c spent a majority of his career analyzing proprietary research, attributed his contrarian forecast to overvalued markets and too\u200d much stimulus spending, making a \u200cdire prediction about the economy in \u200cthe new year. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cSince 2009, this has been 100% artificial,\u2062 unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. This is off the charts, 100%\u200d artificial, which means we\u2019re in a dangerous state,\u201d Dent told the press. \u201cI think 2024 is going to be the biggest single crash year we\u2019ll see in\u200d our lifetimes. I\u2019m the guy that\u2019s \u2062praying for a crash while everybody else is not. We need to get back down to normal, and we need to send a message\u2062 to central banks. This should be a lesson\u200d I don\u2019t think \u2064we\u2019ll ever revisit. I don\u2019t think we\u2019ll ever see a bubble\u2064 for any of our lifetimes again.\u201d<\/p>\n<\/p>\n<\/blockquote>\n<p>Despite the fact that \u2063most recent rallies have led investors to expect\u200d a mild recession, Dent is adamant that the <strong>\u201ceverything\u2062 bubble\u201d will burst sometime in 2024<\/strong>. Historically, stock prices have risen quickly during market bubbles before experiencing a sharp decline.<\/p>\n<p>Additionally, the economist highlighted that this bubble actually began in late 2021 following the peak of the COVID-19 pandemic, with the\u2063 initial signs showing in 2022 when the NASDAQ Stock Market had fallen by \u200d38%.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe Roaring 20s bubble\u2064 was not an everything bubble. [A] real estate barely bubble \u2063 [in 2008], it was \u2062stocks\u200b and \u2062urban real estate that bubbled,\u201d Dent said.<strong> <\/strong>\u201cThis is the one time I\u2019m telling you, do not listen \u200dto your financial adviser. Things are not going to come back to normal in a few \u2063years. We may never\u200b see these levels again. And this crash\u2063 is not going to be \u200ba correction. It\u2019s\u200b going to be more in the \u201929 to\u2062 \u201932 level. And anybody who sat through that would have shot their stockbroker.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThat\u2019s \u2062an 86% crash in the S&#038;P and a 92% crash in the NASDAQ. \u200cAnd crypto, it\u2019s going to be 96%.\u200c So that is a big deal,\u201d the economist continued. \u201cAnd \u2062real estate, by the way,\u200c is only projected, by me, to go back to its 2012 lows\u2026\u2063 but that\u2019s a 50% crash \u2062for the average house, which went down 34% in the last crash, more than the Great Depression, more than \u200bany time in history. That is what\u2019s going to hurt people the most.\u201d<\/p>\n<\/blockquote>\n<p>As the\u2062 Dow Jones Industrial Average ended \u200blast week at 37,000, setting a third record close, Dent chastised investors who had profited from the year-end\u2062 market rally and he urged Americans to\u200d \u201cget out of the \u2064way.\u201d<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cIf I\u2019m right, it is going to be the biggest crash of our lifetime, most of it happening in 2024. You\u2019re going \u200bto see it start and be more obvious by May,\u201d Dent argued. \u2062\u201cSo if you just get out\u200d for six to \u206312 months and \u200dstuff stays at the highest valuation\u200d in history, maybe you miss a little more gains if I\u2019m wrong. If I\u2019m right, you\u2019re going to save \u2064massive losses and be able to reinvest a year or year-and-a-half from \u2064now at unbelievably low prices and\u2063 magnify your gains \u2062beyond compare. We\u2019re still up there. We\u2019re still near the highs, \u2062and that shouldn\u2019t have happened. So you\u2019ve gotten a gift\u2026 you\u2019ve gotten this \u2064rebound where\u2063 you get a second chance to get \u200dout near where you could have before. Boy, [that\u2019s] lucky, lucky, lucky.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe only \u2062reason they had to tighten \u200dso much\u200b is because they stimulated too much over COVID. But that tightening is now going to hit \u2062way more\u2062 in 2024,\u201d he continued. \u201cAnd when you stop that gravy train and reverse the tightening, you\u2019re going to be in a depression within a year, not a mile. All this talk about, \u2018Oh, yeah, now we\u2019re going to have a mild\u2063 recession\u2019 \u2014 not a chance in Hades.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cDepressions \u2063are different\u2063 from recessions. They go much deeper, and they end up in deflation,\u201d he further stated. \u201cIt\u2019s going to bring down a lot of consumer price\u200d inflation, and especially housing\u2026 When this asset bubble bursts and the price of \u2062everything, especially housing, comes back down to reality, imagine, not only can \u2063you buy the house you want at half-off\u2026 \u200cyou can \u2062buy twice \u2063as nice a house here for \u200bthe same mortgage you were going to\u2064 get before. How\u2019s that for a Christmas present?\u201d<\/p>\n<\/blockquote>\n<p>Dent\u2064 issued another warning, stating that the \u201ceverything\u201d bubble will have a \u200clong-lasting slowdown effect for 12 to 14\u200b years. He agreed \u2063that \u201cas the rich get richer\u201d \u200band the \u201cpoor get\u200c poorer,\u201d the wealth gap in America will continue to widen.<\/p>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free. \u200dSubscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Ringing in the new year is a tradition celebrated across the globe.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>From showcasing the Biden Administrations failures to the investigation into the Biden family. House Oversight Committee \u2062Republicans made major strides last year.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Israeli\u2064 hostage Mia Schem gives her first interview since being released by her captors in Gaza.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Calls for the U.S. Supreme Court to intervene and issue guidance on section three of the 14th \u200cAmendment grow louder after Maine\u2019s decision to\u200c remove President Trump from the ballot.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>December 22, 2023\u2063 \u2013 6:05 AM PST HONG KONG (Reuters) \u2013 Chinese regulators announced on Friday a \u2063wide range of rules aimed\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>One of the main bottlenecks for Tesla is the speed it can make the 4680 batteries used in the Cybertruck with its new dry-coating technology.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A group\u2063 of 11 nonfiction authors have joined a lawsuit in\u200d Manhattan federal court that accuses OpenAI and Microsoft of misusing books the \u200bauthors have written to train their models.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>San Francisco police Sergeant David Radford contacted Tesla about data on an alleged stalker\u2019s\u2063 remote \u2062access to a vehicle.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What \u2062are \u2064the specific factors that Harry Dent cites as the basis for his prediction of\u200d a\u2063 major market\u200d crash in \u20632024?<\/h2>\n<p><span>  \u2062Tuned as \u2063we wait to\u2064 see if Harry Dent&#8217;s prediction of \u2064a major market crash in\u200c 2024 comes true. With\u2062 overvalued markets and excessive stimulus spending as his basis\u2062 for this forecast, Dent believes that the economy is \u200bin a dangerous state and \u2064that\u200b 2024 will \u200cbe the biggest crash year in our \u200blifetimes.<\/p>\n<p>Dent&#8217;s assertion is supported by the fact that recent rallies have led investors\u2063 to expect a\u2062 mild recession, but Dent remains \u200bconvinced that the &#8220;everything bubble&#8221; will burst sometime in 2024.\u200d He\u200c points out that historically,\u2064 stock \u200cprices\u200c have\u2063 risen \u200cquickly during\u200c market bubbles before experiencing a sharp decline.<\/p>\n<p>According to Dent, this bubble started in late 2021 following the peak of the COVID-19 pandemic, with initial signs showing \u200cin 2022 when \u2064the NASDAQ Stock Market had fallen by\u2064 38%. Dent emphasizes that this time is different from previous market bubbles, stating that real \u200cestate was \u200dthe focus in the Roaring 20s and the 2008 financial crisis, whereas this bubble \u200dencompasses stocks, urban \u200dreal estate, cryptocurrencies, and more.<\/p>\n<p>Dent predicts an 86% crash in the S&#038;P, a 92% crash in the NASDAQ, a 96% \u200ccrash in cryptocurrencies, and a \u206250% crash in real estate. He warns investors who \u200chave profited from \u200dthe \u200byear-end market rally to get out of\u2063 the way, as this crash will be the biggest of our lifetime and will start\u200c becoming more obvious by May.<\/p>\n<p>Dent \u200cwarns \u2064that the Federal \u2062Reserve&#8217;s effort to tighten monetary policy will hit \u2064even harder in 2024, potentially leading to a depression rather than a mild recession. He believes that depressions are different from recessions, going much \u200cdeeper and ending\u2063 up\u2064 in deflation. Dent suggests that \u200bthe \u200bbursting of this asset bubble will bring the price\u2063 of\u200b everything, especially housing, back\u200d down \u200cto reality, providing \u2064an opportunity \u2063for buyers to\u200c purchase houses \u2063at discounted\u200d prices and magnify their gains in the\u2062 future.<\/p>\n<p>Furthermore, Dent predicts \u2064that \u2063the &#8220;everything&#8221; bubble will result in a long-lasting slowdown\u200d effect for 12 to 14 years, widening the wealth gap \u2062in America.<\/p>\n<p>While Dent&#8217;s prediction may be alarming, it is essential to remember that \u200beconomic forecasts are not always accurate.\u200b Only \u2064time will tell if his prediction holds true or if the markets will defy \u2064his expectations.<\/p>\n<p>In the\u2062 meantime, investors and individuals should\u200d exercise caution and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/class-action-settlement-deadline-to-file-for-6-75-million-linkedin-settlement-in-nine-days\/\" title=\"File for .75 million LinkedIn settlement in 9 days.\">make informed decisions\u200d based<\/a>\u2063 on \u2064their\u2064 own research \u2062and analysis.\u2062 It\u2064 is advisable to diversify portfolios, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-third-round-of-direct-payments-worth-up-to-4555-arrives-in-one-day\/\" title=\"Social Security update: ,555 direct payments arrive in one day.\">seek professional financial advice<\/a>, and stay updated on the latest market trends and developments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American economist Harry Dent predicts that 2024 will witness the &#8220;biggest crash of our lifetime&#8221; in the markets. Dent, known for his extensive analysis of proprietary research, made this unfortunate prediction for the new year. (55 words)<\/p>\n","protected":false},"author":2368,"featured_media":2137898,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2137897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2137897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2368"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2137897"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2137897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2137898"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2137897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2137897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2137897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}