{"id":2264277,"date":"2024-06-10T17:18:02","date_gmt":"2024-06-10T21:18:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-economist-predicts-crash-of-a-lifetime-is-near-worse-than-2008-this-has-never-happened\/"},"modified":"2024-06-10T17:22:20","modified_gmt":"2024-06-10T21:22:20","slug":"top-economist-predicts-crash-of-a-lifetime-is-near-worse-than-2008-this-has-never-happened","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-economist-predicts-crash-of-a-lifetime-is-near-worse-than-2008-this-has-never-happened\/","title":{"rendered":"Leading Economist Foresees Unprecedented Crash, Predicts It Will Surpass 2008 Downturn"},"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\">22<\/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%2Ftop-economist-predicts-crash-of-a-lifetime-is-near-worse-than-2008-this-has-never-happened%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=2264277&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>Economist Harry Dent has predicted an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-refuses-to-answer-how-it-spent-1-billion-in-taliban-controlled-afghanistan\/\" title=\"White House Refuses to Answer How It Spent  Billion in Taliban-Controlled Afghanistan\">imminent economic collapse<\/a> that he terms the &#8220;crash\u2063 of a \u200blifetime,&#8221; which he believes will be more\u2063 severe\u2064 than the 2008\u2064 financial crisis. According to Dent, this downturn has been fueled by the government&#8217;s heavy financial stimulus, creating what he considers a &#8220;totally artificial bubble.&#8221; Despite the strength of the current stock\u200c market, he sees the bubble as unsustainable and predicts a much more significant crash. Dent compared today&#8217;s scenario to historical \u200ceconomic crises, emphasizing that this is the first time the government has sustained such an artificial bubble for over a decade. \u2062He forecasts a drastic fall in the\u200c S&#038;P and Nasdaq indices and severe losses for \u2062major companies like Nvidia by early to mid-2025. Dent&#8217;s views, consistent since his initial prediction last December, foresee a shift from recession to depression following the burst of this prolonged economic bubble. Meanwhile, fellow economist Albert Edwards also echoes the sentiment of an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-dismisses-recession-concerns-ahead-of-looming-gdp-report\/\" title=\"Biden admin. dismisses recession concerns ahead of looming GDP report\">impending economic downturn<\/a>, adding to the grim economic outlook.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/news\/\">  News <\/a>  <\/p>\n<h2>Top Economist Predicts &#8216;Crash of a Lifetime&#8217; Is Near, Worse Than 2008 &#8211; &#8216;This Has Never Happened&#8217;<\/h2>\n<p> <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/%20\"><span>Jack Davis<\/span><\/a> <\/span> <span>   June 10, 2024 at 1:14pm <\/span> <\/span>  <\/header>\n<section>\n<p>Economic bubbles burst, and when this one does, the \u201ccrash of a lifetime\u201d will follow, economist Harry Dent predicts.<\/p>\n<p>Dent made his initial projection in December, and despite a roaring stock market, says he has seen nothing to make him change his mind, according to <a href=\"https:\/\/www.foxbusiness.com\/media\/economist-harry-dent-predicts-stock-market-crash-worse-2008-crisis-bubble-bubbles\" target=\"_blank\" rel=\"noopener\">Fox Business<\/a>.<\/p>\n<p>\u201cThe government created this bubble 100 percent\u2026 totally artificial, injecting a drug to artificially perform stronger. And again, everything from human life to history shows, you don\u2019t get something for nothing, and bubbles always burst\u2026 it\u2019s a much, much higher possibility than anybody gives it,\u201d he said, predicting that what comes next will be worse than the Great Recession of 2008.<\/p>\n<p>He noted that the <a href=\"https:\/\/www.westernjournal.com\/warren-buffets-major-stock-moves-set-off-alarm-bells-us-economy-recession-right-around-corner\/\" target=\"_blank\" rel=\"noopener\">current economic cycle<\/a> \u201cwould have been, without all this $27 trillion stimulus, 2008 to 2022.\u201d<\/p>\n<p>Instead, the federal government pumped money into the economy to stave off a day of reckoning.<\/p>\n<p>\u201cWe have never seen [the] government sustain a totally artificial bubble for a decade and a half, and see what happens after that,\u201d he said. \u201cBut I can tell you, there has not been one bubble, and this is far larger and longer, one major bubble in history that has not ended badly, period.\u201d<\/p>\n<p>\u201cAnd again, this bubble has been going 14 years. Instead of most bubbles [going] five to six, it\u2019s been stretched higher, longer. So you\u2019d have to expect a bigger crash than we got in 2008 to \u201909,\u201d he said.<\/p>\n<p>Dent said he expects <a href=\"https:\/\/www.westernjournal.com\/doom-spending-bidenomics-blame-americas-crippling-spending-obsession\/\" target=\"_blank\" rel=\"noopener\">the crash<\/a> to hit hard in early to mid-2025<\/p>\n<p>\u201cI think we\u2019re going to see the S&#038;P go down 86% from the top, and the Nasdaq 92%. A hero stock like Nvidia, as good as it is, and it is a great company, [goes] down 98%. Boy, this is over,\u201d he said.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Is America going downhill?<\/p>\n<\/p><\/div>\n<p>He said a government-fueled bubble has never happened before.<\/p>\n<p>\u201cIn 1925 to \u201829, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new. This has never happened,\u201d Dent said. \u201cWhat do you do if you want to cure a hangover? You drink more. And that\u2019s what they\u2019ve been doing.\u201d<\/p>\n<p>Dent knows his opinions clash with the mainstream.<\/p>\n<p>\u201cI just say what I see and, frankly, don\u2019t give a damn if people don\u2019t like it, because you [have] got to choose: are you going to tell the truth, or are you going to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chrissy-teigen-quits-twitter-never-forget-that-your-words-matter\/\" title=\"Chrissy Teigen Quits Twitter: \u2018Never Forget That Your Words Matter\u2019\">make people happy<\/a>?\u201d he said, adding, \u201cA lot of other bubbles in history just do not have the steepness or the magnitude. Why? We\u2019ve never realized the power that central banks can have to just <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-reasons-making-taxpayers-pay-off-student-loans-is-a-rotten-idea\/\" title=\"5 Reasons Making Taxpayers Pay Off Student Loans Is A Rotten Idea\">print money<\/a> out of thin air.\u201d<\/p>\n<p>\u201cThis thing has gotta blow,\u201d Dent said, according to <a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/stock-market-crash-recession-economic-depression-bubble-2008-financial-crisis-2024-6\" target=\"_blank\" rel=\"noopener\">Business Insider<\/a>.<\/p>\n<p>\u201cWe\u2019ve got to see a crash of about 40% to say, OK, the bubble\u2019s finally let off the steam. And once it gets that much momentum, I think it\u2019s hard to stop,\u201d he said.<\/p>\n<p>\u201cBubbles are not followed by recessions. They\u2019re followed by depressions,\u201d Dent said. \u201cI can tell you there has not been one bubble \u2014 and this is far larger and longer \u2014 one major bubble in history that has not ended badly, period.\u201d<\/p>\n<p>Economist Albert Edwards is also warning that what has been going up could come <a href=\"https:\/\/www.westernjournal.com\/biden-killing-economy-inflation-remains-high-consumer-spending-weakens\/\" target=\"_blank\" rel=\"noopener\">crashing down<\/a>, according to <a href=\"https:\/\/www.businessinsider.com\/stock-market-crash-recession-sp500-gdp-inflation-unemployment-societe-generale-2024-6\" target=\"_blank\" rel=\"noopener\">Business Insider<\/a>.<\/p>\n<p>\u201cAs GDP growth disintegrates, equity investors should be worried,\u201d Edwards said in a recent note to clients. \u201cThat recession might yet arrive after all.\u201d<\/p>\n<hr>\n<div>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>We who work here at The Western Journal have fought for years against Big Tech and the elites who want to shut us down and then shut America down. <\/span><\/i><\/p>\n<p><i><span>Make no mistake \u2014 nothing will be the same after November 2024. Will you help us fight? Will you <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>help us expose the America-hating elites<\/span><\/i><\/a><i><span>  who will do everything they can to steal this election? <\/span><\/i><\/p>\n<p><i><span>We\u2019re a small group of people fighting to save the country for our readers and for our own family and friends. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Can we count on your help?<\/span><\/i><\/a><\/p>\n<p><i><span>At this point, Big Tech has cut off our access to 90% of advertisers. Imagine if someone took 90% of your paycheck and there was nothing you could do. They\u2019re trying to starve us out.<\/span><\/i><\/p>\n<p><i><span>Donations from readers like you have literally helped keep our lights on, and <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>we need you<\/span><\/i><\/a><i><span>  now more than ever. <\/span><\/i><\/p>\n<p><i><span>We operate on a shoestring budget, but with that budget, we terrify the globalists. Please help us continue the fight. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Stand with us<\/span><\/i><\/a><i><span>, and we will never surrender.<\/span><\/i><\/p>\n<p><i><span>Thank you for reading The Western Journal and for believing in America. <\/span><\/i><\/p>\n<p><i><span>It is a pleasure to serve you.<\/span><\/i><\/p>\n<p><i><span>P.S. Please don\u2019t let the America-hating left win. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Stand with us today<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-44685\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/russdavis\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-44685\">Summary<\/label><label for=\"more-info-tab-radio-44685\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-44685\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-44685\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Jack Davis is a freelance writer who joined The Western Journal in July 2015 and chronicled the campaign that saw President Donald Trump elected. Since then, he has written extensively for The Western Journal on the Trump administration as well as foreign policy and military issues.<\/p>\n<\/p><\/div>\n<div>\n<p>  Jack Davis is a freelance writer who joined The Western Journal in July 2015 and chronicled the campaign that saw President Donald Trump elected. Since then, he has written extensively for The Western Journal on the Trump administration as well as foreign policy and military issues. <br \/> Jack can be reached at jackwritings1@gmail.com. <\/p>\n<p>  Location <\/p>\n<p>  New York City <\/p>\n<p>  Languages Spoken <\/p>\n<p>  English <\/p>\n<p>  Topics of Expertise <\/p>\n<p>  Politics, Foreign Policy, Military &#038; Defense Issues <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Top economist Harry Dent forecasts an unprecedented economic crash, surpassing the 2008 crisis. Dent, who initially predicted this in December, warns that the impending burst of current economic bubbles will lead to a catastrophic downturn<\/p>\n","protected":false},"author":661,"featured_media":2264278,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/leaking-money.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2264277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/leaking-money.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2264277","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\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2264277"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2264277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2264278"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2264277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2264277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2264277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}