Dan Curtis of Nomad Capitalist recently sat down with Harry Dent of HS Dent Investments, known for being one of America’s most outspoken financial advisors. Dan got his thoughts on his ‘Everything Bubble’ theory, its potential impact on the economy and his predictions for the financial markets.
After the latest rate hike by the Federal Reserve at the end of 2022 and experiencing the worst half-year since the Nixon administration of the 1970s, Dan posed the question to Harry, where do we go from here?
Are you worried about the latest forecast of an impending recession? Nomad Capitalist is ready to help you prepare and create a holistic Action Plan to meet your needs.
Who is Harry Dent?
Harry Dent is an American businessman and investor who specializes in stock market analysis and forecasting. The American financial newsletter writer is the founder and president of Harry Dent Research and HS Dent Investment Management.
Harry Dent is one of the most famous financial advisors known for his passionate outbursts and recession predictions. The Harvard Business School alumnus has been featured in Business Week, Wall Street Journal and Investor’s Business Daily and is a regular guest on shows such as Good Morning America.
“Bestselling” author
Harry published popular books on financial planning and investing in the 90s and early 2000s, making him a best-selling author.
His book, The Demographic Cliff, discusses demographics, particularly the West, compared to emerging markets such as India, Cambodia and Africa.
Harry Dent’s previous predictions
As far back as the 1970s, Harry Dent made predictions. Some of his most famous and accurate predictions include Japan’s 1989 bubble burst and recession, the bursting of the dot-com bubble, and predicting the surge of support that propelled Donald Trump into the presidency.
Market Bubbles
Mr. Dent predicts another big future boom ahead, but it won’t come until around the beginning of 2031-2037, but that in the meantime we will still experience a weak global economy driven by a stimulus.
For 2023, he predicts that we will experience a “big wave down” until early 2024. He compared this predicted coming recession to the 2008 crash and said it would be 50% worse.
A Kondratiev wave is a type of economic cycle, and these waves are characterized by long-term trends in economic activity that follow a predictable pattern. These cycles typically have a long period of relatively stable economic conditions followed by a period of rapid growth and then a period of slower growth.
Mr. Dent explained that in a bear market, when prices fall, there is a pattern of five waves down. We are currently somewhere around the 3rd/4th wave, and mr. Dent predicted that this will be the collapse of our lifetime.
Harry Dent Predictions 2023
Mr. Dent went on to say that even gold, generally considered the more stable commodity, has lost its luster and bubbled and topped stocks, making it one of the biggest bubbles in fact.
The Property Market
As well as bonds and stocks, real estate will be significantly affected. Harry said the property market was down 34% and will be down 50% in the coming months. This can be the most painful part of the downturn, with most people having a significant portion of their assets in property.
Global Markets
Mr. Dent said that markets are going to fall globally, but maybe not as much as the United States because it has a bigger stock bubble than anyone else. The real estate bubble is global, with China at the top of the world’s real estate bubble. Other countries that will be hit hard include New Zealand and Australia.
He further stated that the real estate market will see lows equivalent to the 2011/2012 financial markets.
Bitcoin And Crypto Predictions
Dent predicts that Bitcoin and cryptocurrencies in general will be the hardest hit assets in the coming economic crash, but it’s not all doom and gloom as he’s still bullish on the long term.
Check out our article on things to consider with the Crypto Bear Market.
Prepare for the all-bubble
So what if Harry Dent’s latest predictions are correct? What can you do to protect your money and plan effectively?
As investors, everyone can agree that it’s been a bumpy ride over the past few years, and there’s clearly still a lot of uncertainty ahead. And while no one can predict what’s to come, being prepared and diversified can help you weather the worst storm.
Nomad Capitalist offers holistic solutions in a single personalized action plan. It covers everything from immigration and second citizenship to tax reduction, and asset protection, so you’re prepared for whatever happens. Check out the full Harry Dent interview here.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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